Mission's New Retail Corner
How fitting it is to learn about a hot incoming retail property during ICSC week. We found out the Mission's 3140 16th St just sold to a private investor for $8.7M. Its underperforming life as an old auto body shop wasn't the best use for that street, says Urban Group's Louis Cornejo, who repped the seller (the city wanted the property to go the retail route anyway). The 16th Street strip has transformed big time over the years to welcome more foot traffic (as opposed to the wheel traffic that would utilize a body shop), thanks to new food options like Thai and hipster staples like Kilowatt next door. The property has tremendous character with high ceilings and is a real gem for that corner, Louis tells us. At 20k SF, it could easily house four or five stores, he guesses. Stay tuned for more Mission news later this week.
