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2/04/26
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Lift Partners has acquired a 117.5k sf industrial building in South San Francisco for $31.8 mil ($270/sf) in a sale/leaseback deal with Goodwill San Francisco. The transaction was financed with $26.9 mil in first mortgage debt provided by Mesa West Capital.
Goodwill will continue to operate a clearance center at the building, which sits on 4.4 acres at 100 Utah Ave, on the east side of Hwy 101 just north of San Francisco International Airport. Built in 1950, the property features a 24’5” clear height, eight dock-level doors, four grade-level doors and parking for 20 cars.
The South San Francisco submarket is one of the region’s most strategically important industrial hubs given its location to major transportation corridors including San Francisco International Airport and US Highway 101. It’s proximity to innovation clusters and a skilled labor pool also attract ongoing tenant interest. Land suitable for industrial development in the market is in short supply resulting in limited inventory for large buildings available for lease. According to CBRE, the San Francisco industrial market has seen no new deliveries since 2020.
For Mesa West, this deal marked the firm’s final loan of 2025, capping a year in which the Los Angeles-based private lender saw a notable surge in transaction activity toward the end of the year with origination volume surpassing $550 mil in the fourth quarter.
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