150 Powell Street, San Francisco, California
Sold Date: December 1, 2006
Parcel Size: 43,000 square feet
Tenant: H & M (Hennes & Mauritz), a Swedish based retailer of chic but inexpensive clothing, has leased the entire property for ten (10) years on a triple net basis.
H & M operates approximately 1,100 stores in over 20 countries. In 2004 H & M had sales in excess of $8 billion and net income of over $1 billion.
Pro Forma Net Operating Income: $3,045,000
About the Area: San Francisco’s Union Square District is a world famous destination. Other major retailers in the area include: Macy’s, Sak’s, Neiman Marcus, Bloomingdales, Hermes, Tiffany’s, Armani and Nike Town.