SAN FRANCISCO, CA-HFF has closed the sale of Potrero Business Center, a three-building, 135,000-square-foot office and industrial/flex business park near Mission Bay.
HFF marketed the property on behalf of Morrison Street Capital LLC. and SF Industrial 1 LLC, which was advised by Zurich Alternative Asset Management LLC purchased the property free and clear of debt.
The center is located on Cesar Chavez Street between Interstate 280 and Highway 101, adjacent to Mission Bay and in close proximity to the 22nd Street Caltrain station. Situated on 4.57 acres, the property is 94% leased to a wide spectrum of tenants.
The HFF investment sales team representing the seller was led by managing director Steven Golubchik and director John Simerlein. The Zurich team representing the buyer was led by managing director Sean Bannon and director Jesse Faneuil.
“San Francisco represents one of the highest barriers-to-entry markets in the country, with industrial and flex space being particularly scarce,” commented Golubchik.
Founded in 2002, Morrison Street Capital LLC places investment capital on behalf of the Morrison Street series of private equity funds. Zurich Alternative Asset Management LLC is the alternative investment advisor to Zurich North America and its affiliates.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
