CBRE Sells 106 Stall Union Square Garage for $12,500,000
San Francisco, CA – July 2012 – CBRE announces today the sale of 433 Mason Street on July 17, 2012. CBRE served as exclusive agent to the seller. The property was purchased by Commercial Capital Holdings, LLC from a local family for $12,500,000. The seller was represented by CBRE’s David Noravian and Don LeBuhn.
Located between Post and Geary in San Francisco’s Union Square district, the 433 Mason Street garage is a 106 stall garage with a 3,060 square foot retail component. The 10,475 square foot site could also allow for future redevelopment opportunity as current zoning allows for a 6 to 1 Floor Area Ratio.
Until 2008 the property served as the downtown San Francisco location for Hertz Rent a Car. The garage is currently managed by ProPark, and the retail space is leased to Blazing Saddles Bike Rentals and Tours.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2011 revenue). The Company has approximately 34,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at www.cbre.com.