Cassidy Turley BT Commercial Investment Division Significant Deals – August 17, 2011

Published on August 17, 2011


Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today.....

Edwardian San Francisco Hotel Sold for $4.2 Million: 28 Room Boutique Hotel

August 17, 2011 –  Eric Gunderson with Cassidy Turley BT Commercial’s Hospitality Group and based in the firm’s San Francisco office has brokered the sale of the Edwardian San Francisco Hotel for a price of $4,187,500. The 28-room European-style boutique hotel was built in 1913 and consists of five stories with interior corridors. It’s centrally located at 1666-1668 Market Street, only 2 blocks from the future Twitter Headquarters. The hotel is close to many popular attractions including Union Square, Moscone Center, The Castro District, Hayes Valley, The Mission District, and City Hall.

Thehotel displays extremely high occupancy and at $85, it is also well below the ADR (average daily rate) for lodging in the San Francisco/San Mateo market, allowing plenty of rate upside. The hotel further benefits from its proximity to the new Twitter campus, future housing development projects on Market Street and the huge tourism impact that is anticipated from America’s Cup being hosted in San Francisco in 2012-1013.

The hotel was renovated in the summer of 2008 to showcase the quaint ambience of a European style hotel. Each of the rooms is individually decorated, and features private bathrooms, fresh flowers, cable TV and wireless internet. The hotel also has a newly opened wine bar serving international wines and Mediterranean food. It was voted as the New York Times “Budget Choice”. For more information about the hotel, visit http://edwardiansfhotel.com/

 

Investor Pours in $10.7 Million for Cott Beverages Facility in Midwest

August 17, 2011 – Andy Bogardus, Doug Longyear, Chris Sheldon and Tom Baginski with Cassidy Turley BT Commercial’s Net Leased Investment Services and based in the firm’s San Francisco office represented both parties in the sale of a 305,500-square-foot manufacturing/distribution facility in the Midwest for $10,675,000 ($35 per square foot). Built in 1970, the facility is fully leased on a net lease basis to Cott Beverages, the world’s largest brand beverage company.

 

23,379 SF Office Building in Downtown Mountain View Sold for $8.8 Million

August 17, 2011 – Brian Henry with Cassidy Turley BT Commercial Palo Alto represented both buyer and seller in the sale of a 23,379-square-foot office building in downtown Mountain View for $8,888,888 ($380 per square foot). The three-story, multi-tenant building is located at 215 Castro Street, providing easy access to the array of amenities of downtown Mountain View: shopping, dining, entertainment/night life, financial and professional services, and public transportation (CalTrain). It is also conveniently located nearby Highways 85, 237, 101 and El Camino Real.

 

Investor Seals Deal for 65,000 SF Industrial Facility in Southwest

August 17, 2011 – Doug Longyear, Andy Bogardus and Tom Simons with Cassidy Turley BT Commercial’s Net Leased Investment Services and based in the firm’s San Francisco office sold a 65,000-square-foot industrial property in the Southwest. The property is 100% leased on a triple-net (NNN) basis to John Crane, Inc., part of Smiths Group, a global technology business listed on the London Stock Exchange. John Crane designs and manufactures seals and associated products mainly for the oil & gas, chemical, pharmaceutical, pulp & paper and mining sectors. Longyear, Bogardus and Simons all represented the seller, with Longyear also representing the buyer.

 

45,740 SF FedEx Ground Facility Sold in Midwest

August 17, 2011 – Doug Longyear with Cassidy Turley BT Commercial’s Net Leased Investment Services and based in the firm’s San Francisco office represented both parties in the sale of a 45,740-square-foot industrial property in the Midwest. The property is 100% leased on a triple-net (NNN) basis to FedEx Ground.  

 

27-Unit Apartment Complex in San Francisco Sells for $5.4 Million

August 17, 2011 – Ryan Abel with Cassidy Turley BT Commercial’s Multi-Family Group and based in the firm’s San Francisco office represented both parties in the sale of a 27-unit apartment building in San Francisco for $5,400,000 ($200,000 per unit). The four-story building is located at 2650 Franklin Street at the corner of Filbert Street in the City’s Cow Hollow district, renowned for its beautifully preserved Victorian’s and Edwardians. The building consists of 26 studio units and one (1) 1-bed/1-bath unit and 21 ground floor garage spaces with two extra parking spaces.

 

Rite-Aid Ground Lease Property Sold in Southeast

August 17, 2011 – Andy Bogardus and Chris Sheldon with Cassidy Turley BT Commercial’s Net Leased Investment Services and based in the firm’s San Francisco office and Erik Hallgrimson of Cassidy Turley CPS teamed up to represent both parties in the sale of a 68,793-square-foot parcel in the Southeast. The property is fully ground leased to Rite-Aid, which constructed and operates a 14,750-square-foot store on the property. Sheldon represented the seller and Bogardus and Hallgrimson represented the buyer in the transaction.

 

22-Unit Apartment Complex in San Jose’s Willow Glen Area Sold for $2.6 Million

August 17, 2011 – Scott Kilpatrick and Justin Bautista with Cassidy Turley BT Commercial’s Multi-Family Group and based in the firm’s Palo Alto office collaborated to represent both parties in the sale of a 22-unit apartment complex in central San Jose for $2,620,000 ($119,090 per unit). The well-maintained property is located at 700 Race Street in the city’s Willow Glen area and provides easy access to the famed retail along Lincoln Avenue, Light Rail service and Highways 280 and 17. The horseshoe-shaped complex was constructed in 1964 and is comprised of an attractive mix of five studios, (13) 1-bed/1-bath units, two (2) large 2-bed/2-bath units and two (2) 3-bed/2-bath units. Each unit has assigned covered parking, three units have private garages, plus there is additional street parking. Kilpatrick represented the seller, Glen & Susan Fuller, and Bautista represented the buyer, Cypress Glen LLC, in the transaction.

 

CVS/pharmacy Ground Lease Property Sold in Midwest

August 17, 2011 –Chris Sheldon with Cassidy Turley BT Commercial’s Net Leased Investment Services and based in the firm’s San Francisco office represented both buyer and seller in the sale of an 86,205-square-foot parcel in the Midwest.The property is fully ground leased to CVS/pharmacy.  


Advanced Auto Property Drives In Price of $1.9 Million in Midwest

August 17, 2011 –Rick Sanner and Bob Sanner (The Sanner Team) with Cassidy Turley BT Commercial’s Net Leased Investment Services and based in the firm’s San Francisco office and Jamie D’Alessandro of the firm’s Palo Alto office represented both parties in the sale of a 10,000-square-foot retail building in the Midwest for $1,911,000 ($191 per square foot). The property is fully leased to Advanced Auto.  

 

Dollar General Property in Southeast Sells for $1.59 Million

August 17, 2011 –Rick Sanner and Bob Sanner (The Sanner Team) with Cassidy Turley BT Commercial’s Net Leased Investment Services and based in the firm’s San Francisco office represented the seller in the sale of a 9,014-square-foot retail building in the Southeast for $1,590,000 ($176 per square foot). The property is fully leased to Dollar General (DG).

 

AutoZone Property in Southeast Sells for $1.14 Million

August 17, 2011 –Rick Sanner and Bob Sanner (The Sanner Team) with Cassidy Turley BT Commercial’s Net Leased Investment Services and based in the firm’s San Francisco office represented both buyer and seller in the sale of a 6,782-square-foot retail building in the Southeast for $1,140,000 ($168 per square foot). The property is fully leased to AutoZone.  

 

8-Unit Apartment Building in Santa Clara Sells for Over $1 Million

August 17, 2011 –Andre Jizrawi and Justin Bautista with Cassidy Turley BT Commercial’s Multi-Family Group and based in the firm’s Palo Alto office represented both parties in the sale of an 8-unit apartment building in Santa Clara for $1,025,000 ($128,125 per square foot).  The property is located at 1621 Nobili Avenue, near the intersection of main thoroughfare El Camino Real and Lawrence Expressway, and consists of all eight (8) 1-bed/1-bath units.  

 

Three Fourplexes (12 Units) Sold Together in Yuba City

August 17, 2011 – Amar Cheema with Cassidy Turley BT Commercial’s Multi-Family Group and based in the firm’s Sacramento office represented both parties in the sale of three (3) fourplexes in Yuba City. The property consists of all 2-bed/1-bath units. The sale price was $750,000.

 

Cassidy Turley BT Commercial provides this information based on best-available knowledge and does not warrant accuracy provided us by 3rd parties. For further verification and/or questions, please contact the brokers listed below with the particular news announcement.

Contact:
Mark Bollozos
415.781.8100

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