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BAY AREA NEWS
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Pacific Eagle Holdings Corp Buys San Francisco Dev Site from MacFarlane Partners

6/04/15

Pacific Eagle Holdings Corporation has purchased 1125 Market St, a 12.4k sf development site in San Francisco. The site, reportedly the last remaining vacant lot in San Francisco’s rapidly transforming Central Market area, between 5th and 10th Streets, is zoned C-3-G, permitting both residential and commercial development.

The land is located directly in front of the Federal Building, across the street from UN Plaza and just east of The Strand Theater, a historic former movie house that the American Conservatory Theater is reviving as live-performance venue and education center. The neighborhood has long been a center for entertainment, arts and retail, and is seeing a renaissance with large employers such as Twitter, Dolby, Square, One King’s Lane, and Zoosk flocking to the area.

The sale price was not disclosed. CBRE represented the seller, MacFarlane Partners, in the transaction.

“This transaction was a well-timed opportunity for us to capitalize on the strong demand for land in the heart of San Francisco and enables us to deploy resources to our other development projects,” said Dirk Hallemeier, a managing director with MacFarlane Partners and president of its development affiliate, MacFarlane Development Company.

MacFarlane Partners is currently completing construction of Tam Ridge Residences, a 180-unit apartment community in Corte Madera, CA; developing three multifamily residential projects in Seattle’s South Lake Union neighborhood; and planning a high-profile, multifamily development adjacent to Pershing Square in downtown Los Angeles.






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