San Francisco, CA, November 19th, 2019 – Lift Partners announced today that it has completed the purchase of 6000 3rd Street in San Francisco and 1950 Marina Blvd. in San Leandro for $35.3 million on behalf of Lift Real Estate Partners Fund I, LP.
Located along the 3rd Street corridor in San Francisco, 6000 3rd St is a two-acre site with a 45,000 SF industrial building that is currently 20% occupied and zoned PDR 2 which permits a 5.0 FAR and a 65’ height limit. The sale was brokered by Jay Cahan and David Becker of HCM Commercial.
1950 Marina Blvd. is a 106,000 SF industrial building located in the supply constrained San Leandro market. The property was delivered vacant at closing but shortly after close Lift Partners signed a lease for 100% of the property with a credit tenant. The sale was brokered by Jay Hagglund and Grant Hyjer of Cushman and Wakefield who also led the leasing effort on behalf of Lift with Dave Black and Bob Ferraro of CBRE representing the tenant.
About Lift Partners
Founded in January 2015, Lift Partners (“Lift”) is a full-service real estate investment company focused on value-add industrial and office opportunities on the West Coast. Lift is currently investing on behalf of Lift Real Estate Partners Fund I, L.P a $102 million discretionary Fund. Lift’s portfolio to date has included over $350M in gross investments, $75M+ of construction projects and 1.5M+ square feet of assets in the Bay Area, Seattle & Southern California.