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| Potrero Business Center, San Francisco, CA |
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| Steven Golubchik |
SAN FRANCISCO, CA – HFF announced it has closed the sale of Potrero
Business Center, a three-building, 135,000-square-foot office and
industrial/flex business park in San Francisco, California.
HFF marketed the property on behalf of Morrison Street
Capital, LLC. SF Industrial 1, LLC,
which was advised by Zurich Alternative Asset Management, LLC (“ZAAM”),
purchased the property free and clear of existing debt.
The property 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 percent 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.
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| John Simerlein |
The ZAAM 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. As a buyer of commercial real
estate, the firm invests with precision and a hands-on management
approach.
As a secondary lender providing preferred equity, B notes,
bridge loans and mezzanine debt, the firm possesses extensive knowledge of
local real estate markets throughout the western United States and has a
commitment to integrity, flexibility and ingenuity.
Zurich Alternative
Asset Management, LLC is the alternative investment advisor to Zurich North
America and (“Zurich”) its affiliates, responsible for the group’s hedge fund,
private equity and US real estate investments.
Dating back to 1997, Zurich, advised by ZAAM and predecessor
entities, acquired more than $2 billion of assets directly with a focus on high
quality commercial properties with high grade tenancy.
ZAAM currently manages approximately $2.5 billion of
commercial real estate exposure in the Unites States for its various affiliated
balance sheets.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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