Northwood acquired a 1.2-acre infill development site located in the South Financial District of San Francisco.
The development site was at the intersection of First and Mission Streets, across Mission Street from the Transbay Terminal and proximate to the existing BART station on Market Street. At acquisition, the site comprised four existing low-rise office buildings totaling 245,000 square feet on a portion of the property, and the zoning of the site allowed for approximately two million square feet of new development in two towers. The new development was envisioned for an 850-foot tall commercial tower and a 605-foot tall residential tower.
Investment Period: June 2013 – February 2014
