Building leased to arts-minded organization sold to Fortress Investment Group
San Francisco, CA– July 14, 2022 – Leading diversified professional services and investment management company Colliers recently facilitated the sale of a 44,968 square-foot office, warehouse and manufacturing building in San Francisco’s Dogpatch District leased to Minnesota Street Project. Colliers’ Mike Davis and CBRE’s Kevin Hatcher co-represented the landlord, Trinity Investments, and buyer Fortress Investment Group. The building sale was finalized on June 7, 2022 for $24,999,015.
“A stabilized asset of this size and caliber in San Francisco is a rarity,” said Davis. “Both parties were very satisfied with the outcome of this transaction while keeping the The Minnesota Street Project’s mission and vision in mind throughout the transaction.”
The Minnesota Street Project is a for-profit organization dedicated to creating economically sustainable spaces for art galleries, artists and related nonprofit organizations. 1150 25th Street is one of three warehouses occupied by the organization along Minnesota Street. This particular building hosts a variety of galleries open to the public at varying times during the week and serves as dedicated space for Minnesota Street Project Art Services which offers unique storage services for private collectors, galleries and institutions.
1150 25th Street’s lot encompasses 52,386 square-feet and has a PDR-1-G zoning. The building was constructed in 1967 and underwent renovations in 2000 and again in 2016. The building’s office and warehouse capabilities are fully utilized, with the office space taking up two-stories and 13,995 square-feet. Other features include, clear heights ranging from 24 to 40 feet, 4,000 amps of power, HVAC throughout most of the building, four 16-foot grade level doors and on-site parking and truck access. Public transportation is within walking distance for employees, gallery users and patrons as well as access for Interstate 280.
Allison+Partners for Colliers Northern California
Colliers is a leading diversified professional services and investment management company. With operations in 62 countries, our 17,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of 20% for shareholders. With annual revenues of $4.3 billion and $77 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.