The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
October 20, 2020
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



BAY AREA NEWS
Printer-friendly Version   Email an Associate
Warehouse Building in South San Francisco Trades for $239/sf

3/19/18

A partnership between PCCP LLC and Lift Partners has purchased a 117.5k sf warehouse building in South San Francisco for $28.05 mil ($239/sf). The property, which is situated adjacent to Hwy 101, was sold by the former owner-user of the building.

Located at 100 Utah Ave, the property is just north of San Francisco International Airport, and five miles south of the City of San Francisco. The property is within the Brisbane and South San Francisco industrial market, which totals approximately 17.8 msf with very little available product.

“This is a unique asset,” said Mike Murray, a partner with Lift. “There are very few blocks of industrial space over 100k sf available on the Peninsula, we expect this project to achieve premium rents.”

Mark Melbye of Kidder Mathews brokered the deal on behalf of both parties and will handle leasing the asset, which is immediately available. “The supply of industrial space continues to shrink on the Peninsula as buildings are demolished for higher and better use. At the same time, we’re seeing increased demand with last-mile delivery and advanced manufacturing requirements. We expect to see a lot of activity on the asset,” said Melbye.

The San Francisco Bay Area industrial market remains one of the strongest in the nation. A dearth of new supply has led to record-setting land prices, rents, and property trades in core Bay Area submarkets. The South San Francisco market is one of the most supply-constrained areas within the entire Bay Area industrial market, having seen virtually no new industrial construction for the past 20 years, despite exceptional tenant demand for close‐in San Francisco distribution locations.





Return to the Archive page


 


 


 
 
 





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2020 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media