Stephen Curry Pays $8.5M For Vacant Property In San Francisco's Dogpatch Neighborhood
Golden State Warriors star Stephen Curry dribbled into the ailing Dogpatch to buy a piece of his beloved city for $8.5M.
Curry is the new owner of 600 20th St., a vacant two-story office building within walking distance of Chase Center, where the Warriors play basketball, according to the San Francisco Chronicle. The purchase price, which works out to about $923 per SF, is nearly six times more than what the asset sold for in 2021.
There have been no office sales in the Mission Bay or Dogpatch submarkets in the past two years, according to JLL, which got its data from Real Capital Analytics.
Touchstone Commercial Real Estate Partners brokered the transaction. Touchstone didn't respond to Bisnow's request for comment.
According to the San Francisco Planning Department, a request was filed in April to demolish the two-story, 9,200 SF structure and replace it with a five-story, 25K SF mixed-use building with lab, office and residential space.
Curry plans to relocate Thirty Ink — his eight-business enterprise consisting of athletic, lifestyle, technology and philanthropy brands — from a Howard Street building in SoMa to 600 20th St.
A representative from Thirty Ink told the Chronicle the move will hopefully bolster the revitalization of the Dogpatch, a San Francisco neighborhood hit hard by the pandemic.
“It’s in a prime location near the Pier 70 redevelopment,” Calco Commercial founder Scott Mason said.
Mason's firm specializes in properties in Dogpatch, SoMa and Mission Bay.
Plans for the 28-acre Pier 70 redevelopment call for between 1,100 and 2,150 residential units, retail space and 90K SF of art facilities and studio space.
In addition, 600 20th St. is across the street from Restoration Hardware, which took up occupancy of the historic Bethlehem Steel building in 2022.
“The Dogpatch isn’t in a recovery period yet because we have too much vacancy,” Mason said.
But he said a brand like Curry's would have a positive impact on the submarket, which has seen a “boost in activity” in recent months. There is an unprecedented number of interested tenants in the market touring properties and kicking the tires, but it hasn’t translated into closed transactions.
