San Francisco-based Paceline Investors acquired 1270 Bush & 1200 Larkin Street from the Vrionis Family Trust for $12.9 mm. The 37,812 sf, two-story property was the long-time home to Firestone Tires and is located on a high-profile corner on the well-trafficked Bush Street.
Jay Atkinson, managing principal of Paceline Investors, said, “Paceline Investors saw the opportunity to acquire a large, prominent corner one block from the Polk-Gulch thriving retail corridor and short blocks from the new California Pacific Medical Center along the Van Ness corridor. The property offers maximum flexibility with a retail and commercial lease-up options given its location and large 18,000 sq. ft. floor plates as well as long-term residential / mixed-use development potential. We are excited about transforming this property to achieve its full potential.”
The Seller was represented by Marcella Harrison and Kate Schmitz of Kidder Mathews. The Buyer was represented by David Wientjes and Max Sander of Kidder Mathews.About Paceline Investors
Paceline Investors acquires underperforming commercial real estate assets in the greater Bay Area and executes active repositioning strategies to increase value for its investors and to develop to a higher and better use for its communities. Paceline Investors focuses on creating places that appeal to today’s users through renovation, releasing, place-making, and entitlement strategies.About Kidder Mathews
Kidder Mathews is the largest independently owned commercial real estate firm on the West Coast, with 800 real estate professionals and staff in 22 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, project & construction management, and debt & equity finance services for all property types. The firm performs $9 billion in transactions, manages over 53 million square feet of space, and conducts 1,600 appraisals annually. For more information, visit kiddermathews.com.