The three parcel assemblage in the heart of the Mission consisting of 35,734 sf of land and a 20,000 sf industrial building is now entitled for 117 units of multi-family product.

The property had three separate zoning designations (UMU, RH-3 and RH-2) which each allowed for different density. The project also shared a property line with a public park which required the design solution to not impact the park with any shadows from new development. In addition, the existing tenant had a lease expiration that went well beyond the proposed entitlement period and required a lease termination negotiation.

The property was marketed using a managed bid process which generated seven written offers, the majority of which adhered to the strict criteria required by the seller. The property was sold unentitled and achieved premium pricing.