This Week's San Francisco Deal Sheet
The weekly compilation of the San Francisco Bay Area metro’s biggest leases, sales, financing deals, construction updates and personnel moves.
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San Francisco’s Market Street could be home to a Rory McIlroy-backed “adult mini-golf facility," following a request filed with the city’s planning department in late July.
Drive Shack Inc. is seeking approval to expand its presence into San Francisco by establishing an outpost at 945 Market St. Drive Shack owns and operates other locations of its concept, called The Puttery, which combines mini-golf with food and drink, elsewhere in the U.S.
The Puttery describes itself as a “social entertainment and mini-golf experience with curated cuisine and crafted cocktails,” according to the San Francisco Business Times.
The planning department filing calls for the venue to occupy 20K SF. Of this, almost 7K SF will be dedicated to the mini-golf course, with over 4K SF dedicated to dining and the rest allocated for a kitchen and bar space.
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SALES
Prospera Hotels acquired a 77K SF Hilton Garden Inn at the end of July for $26.8M, according to The Real Deal. The property, at 765 Airport Blvd. in Burlingame, California, is close to the San Francisco International Airport and is Prospera's ninth hotel across Florida and California.
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Crown Capital acquired the 188-unit Waterford Cove Apartments last week, a multifamily community located in Sacramento’s Pocket-Greenhaven neighborhood. Bridge Partners sold the property for $62M. CBRE represented Bridge in the transaction.
The property is at 7650 Windbridge Drive and holds one- and two-bedroom units averaging 864 SF. The properties were recently renovated to include wood-style flooring, private balconies and stainless steel appliances.
DEVELOPMENT
An eight-story mixed-use complex will rise at 533 Kirkam St. in West Oakland. The project was designed by Solomon Cordwell Buenz, according to SF YIMBY.
The majority of the 254K SF project — 237K SF — will be dedicated to housing, with an additional 3K SF of retail and a 24-car parking garage.
The project is slated to contain 289 residential units including a mix of studios and one- and two-bedroom units.
PEOPLE
RiverRock Real Estate Groups added of two new team members last week. Anne Hill and Nancy Babb both become directors with the company.
Hill and Babb will oversee retail, office and industrial assets. Hill previously served as a director of operations with Brannan Management, while Babb was a senior vice president with Kidder Mathews and a director of property management with Colliers.
The company also promoted two longtime employees, Jessica Rosati and Brianna McHenry, to vice president of engagement.
LEASES
Ellis Partners signed a 10-year lease in downtown San Francisco last week at the One Sansome office building. The company plans to relocate it from its 111 Sutter St. location at the start of next year, moving into One Sansome’s 15th floor.
Newmark represented the landlord, while Cushman & Wakefield represented Ellis Partners. Ellis Partners will occupy just under 7K SF.
THIS & THAT
StubHub announced that it would close its office in San Francisco at the end of 2022, leaving the space it occupies at 199 Fremont St. in the city’s SoMa district.
StubHub plans to center its corporate offices in Los Angeles and New York City, according to SFGate.
