SAN FRANCISCO, CA,May 29, 2013 – Marcus & Millichap Real
Estate Investment Services, the nation’s largest real estate investment
services firm, has the exclusive listing for 347-359 Grant Ave./507 Bush
St., a mixed-use retail/residential asset featuring two ground-floor retail
spaces and 56 residential/SRO units, 16 of which are licensed for tourist
occupancy.
 |
| Mark Mason |
Located in the San Francisco’s Union Square district, the
property is listed at $13.9 million.
Mark
Mason, a first vice president investments in the San Francisco office of
Marcus & Millichap, is representing the seller, a local Bay Area real
estate investment group.
“The property generates a diversity of income from two
distinctly different product types and is one of the most attractive investment
offerings in the Bay Area,” says Mason.
“The ground floor is leased to two
national retailers, Starbucks Coffee Co. and American Apparel Inc. The
residential portion is leased to EF Education First Ltd., the world’s largest
international language school,” adds Mason.
The
building is located at the southwest corner of Grant Avenue and Bush Street,
two of San Francisco’s major arterials and one of the city’s top foot-traffic
intersections.
 |
| Union Square district, San Francisco |
The
property received extensive renovations from 2002 through 2008. Improvements
include a seismic retrofit, upgrades to a high percentage of the plumbing and
electrical systems, new HVAC and new fire and life safety systems.
An
ADA-compliant wheelchair lift provides access from the Bush Street entrance to
the first floor residential units and meets San Francisco’s ADA requirements.
For a complete copy
of the company’s news release, please contact:
Ben Johnson,
Marketing Director
(925) 953-1736
No comments:
Post a Comment