The Bay Club Company announced the acquisition of the full city block that has been home to its flagship San Francisco club for nearly five decades, comprising three adjacent properties in San Francisco’s North Waterfront neighborhood, totaling more than 150,000 square feet. Purchased from LaSalle Investment Management, Inc. for $65 million, the acquisition secures Bay Club’s permanent presence in its founding city and cements the heritage that has defined the company for half a century.
Bay Club has called this corner of San Francisco home for nearly five decades, and now, it always will. Since opening at 150 Greenwich Street in 1977 as one of California’s first coed athletic clubs, Bay Club has been woven into the fabric of this city and remains one of San Francisco’s longest-standing private athletic institutions. The acquisition ensures continuity of ownership and operations for decades to come.
The acquired properties span an entire city block bounded by Sansome, Battery, Greenwich, and Lombard Streets in San Francisco’s North Waterfront, among the city’s most desirable submarkets. The three-parcel portfolio includes:
- 1 Lombard St., the 130-year-old historic building totaling approximately 75,000 square feet.
- 150 Greenwich St., the primary club facility and home to Bay Club’s flagship location since 1977, encompassing approximately 45,000 square feet.
- 1444 Sansome St., a dedicated parking structure with approximately 35,000 square feet, offering complimentary access exclusively for members.
The club currently occupies approximately 100,000 square feet of the more than 150,000-square-foot block. Over time, Bay Club plans to thoughtfully expand its footprint as space becomes available.
Bay Club’s corporate headquarters previously operated from the Lombard Street location. In recent years, as member demand increased and programming expanded, the company relocated its headquarters to a new 13,000 square foot office down the block, to prioritize accessible club space and enhance the on-campus member experience.
“We had a simple idea in 1977: build a great club for this city. We’re grateful San Francisco let us, and we’re proud to see it still standing on the same block where it all started,” said Pete Jones, the co-founder of the Bay Club.
What started at 150 Greenwich Street has grown into a network of 35-plus locations and more than 150,000 members — making Bay Club one of the West Coast’s leading sports, outdoor recreation and active lifestyle operators. Bay Club San Francisco remains its heart, serving approximately 12,500 members, with nearly 20,000 members across the Bay Club network actively using its San Francisco locations, underscoring the club’s enduring role as the cornerstone of the Bay Club portfolio.
“San Francisco didn’t just shape Bay Club, it made us,” said Matthew Stevens, the president and CEO of Bay Club. “We were born here, we grew here and we’re not going anywhere. As we approach our 50th year, this acquisition is our commitment, to this city, to our members and to the next half century. San Francisco is our home, and we’re tripling down on it.”
“San Francisco’s comeback is happening, and this investment in our downtown is proof of that,” said San Francisco Mayor Daniel Lurie. “Bay Club began in San Francisco and has been part of our city for 50 years. As our city’s downtown continues to recover, this kind of long-term commitment shows that energy is returning, and we’re continuing to build momentum.”
This acquisition reflects Bay Club’s broader philosophy that owned real estate is foundational to building durable, community-centered infrastructure. Bay Club’s ownership model provides long-term stability for members and employees, enhances capital flexibility, and enables sustained reinvestment in its physical assets.
The acquisition also supports Bay Club’s three-part growth strategy: building interconnected regional campuses, expanding sports, outdoor recreation, and active lifestyle offerings within those campuses, and connecting members across locations through its shared membership model, which allows up to 10 people to join under one flexible membership.
Bay Club’s roots in San Francisco run deeper than its four locations across the city, through its budding partnership with the Boys & Girls Clubs of San Francisco (BGCSF). The partnership includes financial support, weekly on-site volunteering opportunities for Bay Club associates, career pathways, and BGCSF employee access to Bay Club facilities, reinforcing Bay Club’s belief that community investment and institutional ownership go hand in hand.
Bay Club was advised in the transaction by CBRE’s Bay Area Capital Markets team, including Mike Taquino, Kyle Kovac, Jesse Millman, Kati Thabit, Jack Fleischmann and Mindy Nguyen.
“CBRE is pleased to have assisted Bay Club in this strategic acquisition, which reflects the continued resurgence of San Francisco and marks a long-term commitment to the city from a deeply rooted local institution,” said Taquino.
Kristin Macdonald and Sydne Levy of Brownstein Hyatt Farber Schreck, LLP served as legal advisors to Bay Club.
