Swig Company President Connor Kidd will replace outgoing CEO Jim Carbone, the San Francisco-based development company announced Thursday.
Carbone signed on for a five-year stint at the San Francisco-based office and multifamily landlord when he came aboard in 2018, he said in a statement, adding that “a major part of my role at the company was to help position Connor to become the CEO and president of the future.”
Kidd joined Swig in 2011 as an associate on the Investment team and in January 2019 was promoted to director of asset management, overseeing the company’s leasing and property management operations nationwide. He became Swig’s president in January 2022, a position he will continue to hold, according to the press release.
He previously worked at Accenture, Prologis, North Star Realty Finance and Hunter Properties before joining Swig.
In a statement, Kidd thanked Carbone for his “mentorship” and said he looked forward to growing the company’s portfolio.
Swig recently partnered with fellow San Francisco-based firm SKS Partners to buy 350 California Street for $61 million, one of several recent deals in the city where a downtown tower sold for less than half its original asking price.
SKS had originally planned to buy the building with a South Korean equity partner. When the international investor dropped out, Carbone approached Paul Stein, a managing partner at SKS, during an event at UC Berkeley’s Fisher Center, about joining forces to buy the property, according to The San Francisco Standard. Kidd told the Standard that with two local forces now owning the building, the plan is to hold it for at least 10 years and rent the mostly empty 22-story tower for very attractive rents to start, with more investment in the property as rents rise in the years ahead.
Other recent deals by Swig in the Bay Area include the redevelopment of 633 Folsom Street, which it built in the 1960s, and the historic Mills Building, where Gensler recently relocated due in part to the eco-friendly upgrades Swig put into the turn-of-the-century building it has owned since the 1950s. Swig is upgrading buildings it owns across its nearly 8-million-square-foot office portfolio to reach environmental social and governance targets, Kidd previously told TRD.
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