525 JONES STREET
525 JONES STREET
F R A N C I S C O
E
X
E
C
U
T
I
V
E
S
U
M
M
A
R
Y
D O W N T O W N S A N
AN EXCEPTIONAL SAN FRANCISCO DEVELOPMENT OPPORTUNITY WITH IN-PLACE CASH FLOW
EXECUTIVE SUMMARY Beckett Capital Inc as exclusive advisor is pleased to offer for sale the 100% fee simple interest of the 525 Jones Street Garage (the “Property”), a 160 vehicle capacity, three level parking garage located in San Francisco’s Lower Nob Hill. Situated on a 9,526 sf rectangular parcel and benefitting from a 130 height limit, the Property provides a rare opportunity for developers to acquire a prime site that allows for new residential, retail or office development while enjoying strong cash flow from parking operations. The Property is ideally positioned to benefit from the over 18 million visitors that come to visit San Francisco annually and its world class shopping available at Union Square. Located on Jones Street between Geary and O’Farrell Streets, the property is just blocks from San Francisco’s world renowned Union Square. THE OPPORTUNITY
525 Jones offers investors and developers a rare mixed-use development opportunity in one of the most supply-constrained markets in the United States.
OFFERING SUMMARY Address
525 Jones Street San Francisco, CA 94102
Price
Best Offer
Year Built
Number of Levels
1922 Three story garage (Two stories above full lower level)
Number of Striped Stalls
Vehicle Capacity with Valet Service Tenancy
99 stalls 160 vehicles Unencumbered*
525 JO NES ST R EET
* Current lease with Royal Valet Parking expires August 31, 2016 with no options to extend.
1
SITE OVERVIEW Existing Improvements Three story garage (Two stories above full lower level) Net Rentable Area (SF) 28,578 sf Parcel Area 9,526 sf APN 0318/005 Zoning RC-4 (Residential-Commercial, High Density) Height & Bulk 80-130-T Maximum Residential Density Up to one unit per 125 square feet of lot area Maximum Residential Unit Count Up to 76 units Maximum Commercial SF In this Special Use District, commercial is limited to ground floor and first basement floor. Second story commercial may be permitted as a conditional use. Zoning Notes This mixed-use zoning designation would potentially allow for a combination of both the residential and commercial
EX EC U TI VE S UM M ARY
densities outlined above.
2
AMENITIES MAP
525 JONES STREET
1 Rex Hotel
Hotels
2 Mark Hopkins Intercontinental 3 Fairmont Hotel
4 Ritz-Carlton Hotel
5 Marriott Union Square 6 Sir Francis Drake 7 Grand Hyatt
8 Westin St Francis
525 JO NES ST R EET
9 Hotel Nikko
3
1 Metreon
Retail
2 Westfield San Francisco Centre 3 Macy’s
4 Neiman Marcus
5 Nordstrom Rack 6 H&M
7 Disney Store 8 Apple
9 Forever 21
Parking
Restaurants
Coffee & Cafes
1 Union Square Garage
1 Ryoko’s Japanese
1 Coffee Bean
3 450 Sutter
3 Liholiho Yacht Club
3 Workshop Café
2 Grand Hyatt Hotel
4 The Westin St. Francis Hotel 5 Ellis O'Farrell Garage
6 Sutter Stockton Garage
7 Mariott Union Square Hotel
8 The Handlery Union Square Hotel 9 Mason O'Farrell Garage
2 Farm Table
4 Creperie Saint Germain 5 Bistro Burger
6 Shorty Goldstein’s 7 Hops & Hominy 8 Taylor Street 9 Ame
2 Coffee Bar 4 Starbucks
5 Café Ambosia
6 Café de la Presse 7 Café Med
8 Café Tiramisu 9 Cafe Venue
10 Parc 55
10 Barneys New York
10 Hotel Nikko
10 Perbacco
10 Peet’s Coffee & Tea
12 Hotel Zelos
12 Saks Fifth Avenue
12 Olympic Garage
12 Kokkari
12 Andersen Bakery
11 Hotel Pickwick
11 Gucci
11 Post & Taylor Garage
11 Michael Mina
13 Marriott Marquis
13 NikeTown
13 660 Sutter
13 Fino Ristorante & Bar
15 Westin SF Market
15 Crocker Galleria
15 The Donatello
15 Benu
14 Four Seasons
14 Banana Republic
14 Hilton Union Square
14 Proper Food
16 St. Regis
16 Ross Dress For Less
16 Eddy & Taylor Lot
16 Escape from New York Pizza
18 Sheraton Palace
18 JoS. A. Bank
18 Pacific Place
18 B44
20 Galleria Park Hotel
20 Walgreens
20 155 Eddy Lot
20 Bourbon & Branch
22 Omni Hotel
22 H&M
22 400 Taylor
24 Hotel Carlton
24 CVS Pharmacy
24 Hotel Adagio
17 W Hotel
19 HI San Francisco
21 Stanford Hotel
23 Hilton San Francisco
25 Hilton Union Square
17 Golfsmith
19 CVS Pharmacy
21 Northface
23 AT&T
25 Alexander Book Co.
26 Hotel Vertigo
26 Emporio Armani
28 The Scarlet Huntington
28 Urban Outfitters
27 JW Marriott
27 Levi’s
29 Clift Hotel
29 Cable Car Clothiers and Barber
31 Hotel Adagio
31 See’s Candy
30 Hotel Grace
30 Target
17 Parc 55
19 265 Eddy Garage
21 415 Taylor
14 Native Juice Co
Attractions
1 Playhouse
19 Americano
3 Moscone Center West
Public Transportation
1 Cable Car Turnaround
25 550 O'Farrell
3 Montgomery Station
27 433 Mason
13 Cafe Madeleine
17 Perry’s
23 50 Cosmo Place Lot
26 45 Shannon
11 Coffee Bar
2 Powell Street Station
4 Embarcadero Station
2 San Francisco Mint
4 Moscone Center South 5 MLK Memorial
6 Yerba Buena Center for Arts 7 SF Museum of Modern Art 8 Saint Patricks Church
9 Cont. Jewish Museum
Fitness
5 Transbay Terminal (Temp)
6 Transbay Terminal (Future)
1 24 Hour Fitness 2 Equinox
3 Bay Club
INVESTMENT HIGHLIGHTS • Outstanding Redevelopment Opportunity – The Property is a prime redevelopment site located in Lower Nob Hill just blocks from Union Square. It benefits from very favorable, high density zoning (RC-4 – Residential/Commercial High Density) and a 130 foot height limit. This flexible zoning allows for a variety of future uses including residential, well as up to 76 residential units. • Unencumbered by Master Lease – The garage has a short term lease that expires on August 31, 2016. This would allow a new investor to greatly increase efficiencies and revenue at the garage by introducing a new operator. • Proximity to World Class Retail and Hotels – The garage is centrally located and provides excellent access to the high end shopping at Union Square with world-renowned retailers such as Saks Fifth Avenue, Tiffany, Neiman Marcus, and Brooks Brothers among others as well as to Westfield’s San Francisco Centre which features over 180 stores and 1.25 million square feet of retail.
EX EC U TI VE S UM M ARY
retail and office. The Property would allow for up to three levels of new commercial development (retail or office) as
4
525 JONES STREET D O W N T O W N S A N
EXCLUSIVELY OFFERED BY BECKETT CAPITAL INC INVESTMENT CONTACTS: DAVID NORAVIAN Lic 01419471 [email protected] +1 415 627 8364 BECKETT CAPITAL INC 156 2nd Street | 6th Floor San Francisco, CA 94105
F R A N C I S C O
F R A N C I S C O
E
X
E
C
U
T
I
V
E
S
U
M
M
A
R
Y
D O W N T O W N S A N
AN EXCEPTIONAL SAN FRANCISCO DEVELOPMENT OPPORTUNITY WITH IN-PLACE CASH FLOW
EXECUTIVE SUMMARY Beckett Capital Inc as exclusive advisor is pleased to offer for sale the 100% fee simple interest of the 525 Jones Street Garage (the “Property”), a 160 vehicle capacity, three level parking garage located in San Francisco’s Lower Nob Hill. Situated on a 9,526 sf rectangular parcel and benefitting from a 130 height limit, the Property provides a rare opportunity for developers to acquire a prime site that allows for new residential, retail or office development while enjoying strong cash flow from parking operations. The Property is ideally positioned to benefit from the over 18 million visitors that come to visit San Francisco annually and its world class shopping available at Union Square. Located on Jones Street between Geary and O’Farrell Streets, the property is just blocks from San Francisco’s world renowned Union Square. THE OPPORTUNITY
525 Jones offers investors and developers a rare mixed-use development opportunity in one of the most supply-constrained markets in the United States.
OFFERING SUMMARY Address
525 Jones Street San Francisco, CA 94102
Price
Best Offer
Year Built
Number of Levels
1922 Three story garage (Two stories above full lower level)
Number of Striped Stalls
Vehicle Capacity with Valet Service Tenancy
99 stalls 160 vehicles Unencumbered*
525 JO NES ST R EET
* Current lease with Royal Valet Parking expires August 31, 2016 with no options to extend.
1
SITE OVERVIEW Existing Improvements Three story garage (Two stories above full lower level) Net Rentable Area (SF) 28,578 sf Parcel Area 9,526 sf APN 0318/005 Zoning RC-4 (Residential-Commercial, High Density) Height & Bulk 80-130-T Maximum Residential Density Up to one unit per 125 square feet of lot area Maximum Residential Unit Count Up to 76 units Maximum Commercial SF In this Special Use District, commercial is limited to ground floor and first basement floor. Second story commercial may be permitted as a conditional use. Zoning Notes This mixed-use zoning designation would potentially allow for a combination of both the residential and commercial
EX EC U TI VE S UM M ARY
densities outlined above.
2
AMENITIES MAP
525 JONES STREET
1 Rex Hotel
Hotels
2 Mark Hopkins Intercontinental 3 Fairmont Hotel
4 Ritz-Carlton Hotel
5 Marriott Union Square 6 Sir Francis Drake 7 Grand Hyatt
8 Westin St Francis
525 JO NES ST R EET
9 Hotel Nikko
3
1 Metreon
Retail
2 Westfield San Francisco Centre 3 Macy’s
4 Neiman Marcus
5 Nordstrom Rack 6 H&M
7 Disney Store 8 Apple
9 Forever 21
Parking
Restaurants
Coffee & Cafes
1 Union Square Garage
1 Ryoko’s Japanese
1 Coffee Bean
3 450 Sutter
3 Liholiho Yacht Club
3 Workshop Café
2 Grand Hyatt Hotel
4 The Westin St. Francis Hotel 5 Ellis O'Farrell Garage
6 Sutter Stockton Garage
7 Mariott Union Square Hotel
8 The Handlery Union Square Hotel 9 Mason O'Farrell Garage
2 Farm Table
4 Creperie Saint Germain 5 Bistro Burger
6 Shorty Goldstein’s 7 Hops & Hominy 8 Taylor Street 9 Ame
2 Coffee Bar 4 Starbucks
5 Café Ambosia
6 Café de la Presse 7 Café Med
8 Café Tiramisu 9 Cafe Venue
10 Parc 55
10 Barneys New York
10 Hotel Nikko
10 Perbacco
10 Peet’s Coffee & Tea
12 Hotel Zelos
12 Saks Fifth Avenue
12 Olympic Garage
12 Kokkari
12 Andersen Bakery
11 Hotel Pickwick
11 Gucci
11 Post & Taylor Garage
11 Michael Mina
13 Marriott Marquis
13 NikeTown
13 660 Sutter
13 Fino Ristorante & Bar
15 Westin SF Market
15 Crocker Galleria
15 The Donatello
15 Benu
14 Four Seasons
14 Banana Republic
14 Hilton Union Square
14 Proper Food
16 St. Regis
16 Ross Dress For Less
16 Eddy & Taylor Lot
16 Escape from New York Pizza
18 Sheraton Palace
18 JoS. A. Bank
18 Pacific Place
18 B44
20 Galleria Park Hotel
20 Walgreens
20 155 Eddy Lot
20 Bourbon & Branch
22 Omni Hotel
22 H&M
22 400 Taylor
24 Hotel Carlton
24 CVS Pharmacy
24 Hotel Adagio
17 W Hotel
19 HI San Francisco
21 Stanford Hotel
23 Hilton San Francisco
25 Hilton Union Square
17 Golfsmith
19 CVS Pharmacy
21 Northface
23 AT&T
25 Alexander Book Co.
26 Hotel Vertigo
26 Emporio Armani
28 The Scarlet Huntington
28 Urban Outfitters
27 JW Marriott
27 Levi’s
29 Clift Hotel
29 Cable Car Clothiers and Barber
31 Hotel Adagio
31 See’s Candy
30 Hotel Grace
30 Target
17 Parc 55
19 265 Eddy Garage
21 415 Taylor
14 Native Juice Co
Attractions
1 Playhouse
19 Americano
3 Moscone Center West
Public Transportation
1 Cable Car Turnaround
25 550 O'Farrell
3 Montgomery Station
27 433 Mason
13 Cafe Madeleine
17 Perry’s
23 50 Cosmo Place Lot
26 45 Shannon
11 Coffee Bar
2 Powell Street Station
4 Embarcadero Station
2 San Francisco Mint
4 Moscone Center South 5 MLK Memorial
6 Yerba Buena Center for Arts 7 SF Museum of Modern Art 8 Saint Patricks Church
9 Cont. Jewish Museum
Fitness
5 Transbay Terminal (Temp)
6 Transbay Terminal (Future)
1 24 Hour Fitness 2 Equinox
3 Bay Club
INVESTMENT HIGHLIGHTS • Outstanding Redevelopment Opportunity – The Property is a prime redevelopment site located in Lower Nob Hill just blocks from Union Square. It benefits from very favorable, high density zoning (RC-4 – Residential/Commercial High Density) and a 130 foot height limit. This flexible zoning allows for a variety of future uses including residential, well as up to 76 residential units. • Unencumbered by Master Lease – The garage has a short term lease that expires on August 31, 2016. This would allow a new investor to greatly increase efficiencies and revenue at the garage by introducing a new operator. • Proximity to World Class Retail and Hotels – The garage is centrally located and provides excellent access to the high end shopping at Union Square with world-renowned retailers such as Saks Fifth Avenue, Tiffany, Neiman Marcus, and Brooks Brothers among others as well as to Westfield’s San Francisco Centre which features over 180 stores and 1.25 million square feet of retail.
EX EC U TI VE S UM M ARY
retail and office. The Property would allow for up to three levels of new commercial development (retail or office) as
4
525 JONES STREET D O W N T O W N S A N
EXCLUSIVELY OFFERED BY BECKETT CAPITAL INC INVESTMENT CONTACTS: DAVID NORAVIAN Lic 01419471 [email protected] +1 415 627 8364 BECKETT CAPITAL INC 156 2nd Street | 6th Floor San Francisco, CA 94105
F R A N C I S C O
