Kensington buys 28 Second Street for $20M

7 story office building exterior

Kensington Investment Group is pleased to announce the purchase of 28 Second Street in San Francisco. Kensington purchased the 7 story building for $20 million as a part of an exchange. Built in 1914, the building is 27,502 square feet and features exposed brick walls, floor to ceiling windows, and 3,800 square foot floor plates. The property benefits from its close proximity to multiple transportation lines including the Montgomery Muni/BART station and the newly built Transbay terminal. In addition there is an abundance of nearby restaurant, bar, and fitness amenities.


Kensington Investment Group’s principal Robert Jensen says, “This is one of the most dynamic markets in the world and one of the strongest corridors in San Francisco. We know where we are in the real estate cycle but this is a long-term play for us. There will be ups and downs, but in the big picture, we believe in San Francisco.” Kensington is planning both interior and exterior improvements to the building. Upgrades will include seismic work, refreshed common areas, and high-end turn-key interior build outs. Each suite will include open floor plans with new kitchenettes, floor to ceiling glass conference and huddle rooms, exposed duct work, new lighting and high quality finishes.  Rebecca Maher, a principal at Kensington said, “By blending the building’s historic character with modern finishes, 28 Second Street has the potential to set the stage for a really creative working environment.  Beyond the conventional spec suite, we plan to intrigue the senses by playing with natural greenery, background music, and today’s most innovative materials and systems.” The building will be marketed to technology companies, which have dominated the office landscape South of Market.


Rob Dumas, Pat Hubbard, and Zac Anglin of Sansome Street Advisors, Inc. represented Kensington and the seller in the purchase.


Recently, Kensington has also been very active in the Portland MSA. Their most recent acquisitions include the Board of Trade building for $18 Million and 4550 SW Macadam Avenue for $12.25M, both in 2016, and the Pettygrove building in Portland’s Slabtown for $8.65 Million in 2015.