Rare Property Sold for $14.5 Million in Downtown San Francisco's Financial District
Starboard Commercial Real Estate, privately owned and locally-based San Francisco commercial real estate firm, is pleased to announce the sale of 570 Market Street in San Francisco, California.
The building was purchased by Frontier Group LLC for $14.5 Million. The buyer was represented by Starboard Commercial Real Estate's Frank Chiu. Built in 1922, the narrow two-story building is situated in a unique spot north of Market and is currently home to a mix of retail and office tenants, including Daiso Japan, Creative Marketing Concepts, ABC Cleaners, Lucky Nails, Mercury Maintenance and Jack's Shoe Repair.
The new owners are planning to go through an entitlement process to build a 23-story high-rise building, containing public open space, office, retail, hotel rooms, and a restaurant featuring an outdoor patio.
"This property presents a rare opportunity to possibly build a high-rise on Market Street in the Financial District," explained Frank Chiu, broker associate, Starboard Commercial Real Estate. "In this particular area of the city there are little to no inventory for sale that are not registered as a historic resource or already developed."
For more information on available listings, please visit www. starboardnet.com
About Starboard Commercial Real Estate
Starboard Commercial Real Estate is the largest independently owned commercial real estate company in San Francisco, California. Starboard was established in 1991 with a unique vision of what a commercial real estate firm should be. With a combined total of 55 years representing landlords and tenants, members of the firm are devoted to serving clients with the highest ethics and professionalism. By implementing the latest technology, Starboard combines innovative market techniques with hard work, pursuing every opportunity to meet its clients' commercial property goals. Our brokers are highly qualified professionals supported by skilled support staff and a full-service in-house graphic and website design team. Our brokers have access to critical information on existing tenants in San Francisco and more than 1,814 office buildings and over 103 million square feet of office space throughout San Francisco.
In 2000, Starboard became the San Francisco member of TCN Worldwide Real Estate Services, a national affiliation of independent real estate firms located in more than 200 markets with 62 offices in 8 countries, including North and South America, Europe, and Asia. Using national and international real estate expertise, Starboard provides clients with local know-how on a global scale. Hans Hansson, managing principal, previously served on TCN Worldwide's Board of Directors and served as regional vice president for two years. For more information, visit www.starboardnet.com.
Media Contact:
Natalie Wolfrom
PR for Starboard TCN Worldwide
415-609-7092
nwolfrom415@gmail.com