 |
| Chris Gandy |
SAN FRANCISCO, CA ––
Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $15 million
refinancing for 888 Tennessee Street, a 40,000-square-foot industrial building
fully leased to Amazon in San Francisco, California.
Working on behalf of the
borrower, The S.Hekemian Group, HFF placed the 10-year, fixed-rate loan with
Principal Commercial Capital, Principal Real Estate Investors’ CMBS
platform.
Principal Real Estate
Investors is also the primary servicer of the loan, proceeds of which will be
used to refinance the existing mortgage on the property.
888 Tennessee Street is a
warehouse fully-leased to Amazon.
Located one block west of Third Street, the building is in San
Francisco’s Dogpatch neighborhood, an area with multiple restaurants, breweries
and other retail destinations in addition to proximity to Interstate 280.
The HFF debt placement
team was led by director Chris Gandy.
“888 Tennessee is
extremely well located in the heart of the San Francisco’s Dogpatch
neighborhood with convenient access and walkability to restaurants, shops and
transit,” Gandy said.
“This facility acts as the first Amazon Prime
Now location in San Francisco, illustrating the extreme demand for last-mile
facilities from the e-commerce industry.
“We feel that we are in
the infancy of a shift to last-mile distribution facilities in dense, in-fill
urban environments. The property’s
location will only improve over time with the development of Pier 70, the
Golden State Warriors Stadium, Uber’s HQ campus and the continued expansion of
UCSF.”
For
more information on this news release, please contact:
Kristen M. Murphy
Director, Public Relations
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
No comments:
Post a Comment