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5/27/26
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Museum Parc, a 36k sf mixed-use property in San Francisco, was acquired by DPI Retail in a $19.25 mil ($535/sf) transaction. The asset was sold by Bridgeton.
Museum Parc, located at 300 3rd St, at the intersection of 3rd and Folsom streets in San Francisco's South of Market neighborhood, sits directly below 234 luxury condominium units. The street-level retail is fully leased and anchored by Crunch Fitness. The remainder of the property features a mix of restaurants and office users, including El Dorado Latin Fusion, Aquabyte, and TowerWAV. The property's tenant mix provides stable cash flow, with 61% of retail space occupied by operators with more than 22 years of tenure.
Museum Parc benefits from its prime location adjacent to Moscone Center, which hosted 34 conventions in 2025 and generated 657,000 hotel room nights. The asset offers exceptional visibility with access to more than 46,000 vehicles per day at the 3rd and Folsom intersection and sits one block from the I-80 4th Street on/off ramps and caters to both office employees as well as the surrounding residential buildings.
San Francisco has experienced significant momentum under new mayoral leadership, with crime at its lowest point in 23 years, hotel room bookings associated with Moscone events up 60 percent and Muni ridership reaching 75 percent of pre-pandemic levels. The city's office market has shown strong recovery with 9.3 msf of leasing activity in 2025, double the transaction volume from 2023.
A JLL Capital Markets Investment and Sales Advisory team led by Managing Director Eric Kathrein, Director Andrew Spangenberg and Associate Allie Repaskey represented the seller in the deal.
The South of Market neighborhood continues to benefit from San Francisco's position as a global technology hub, with the Bay Area capturing 63% of global AI venture capital funding in 2024 and San Francisco's AI footprint reaching 6.9 msf in 2025.
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