Just about a year ago, as the San Francisco commercial real estate market was heading into what was then a new high, the Cruz family, which had owned a three building property in San Francisco’s Mission District at 750 Florida Street, decided to place it on the market. In January of this year, that sale closed for $9.1 million, and the buyer was Kunefebaklava LLC, an entity associated with San Francisco-based Bora Ozturk.
The project was marketed by Starboard Commercial Real Estate, a privately owned and San Francisco-based commercial real estate firm, which saw a lot of potential in the asset. “Given the flexible zoning that comes with this property, this presents an attractive opportunity to a variety of buyers who can utilize the space in a number of creative ways. Business owners and investors alike can capitalize on a property located in such a flourishing neighborhood that’s in high-demand,” said Alex Fee, a sales and leasing associate with Starboard Commercial Real Estate, at the time the property was placed up for sale.
The buildings’ flexible zoning could allow the buyer to utilize the space in a variety of ways, including: production, distribution, repair, retail, educational facilities, housing and evening entertainment space.
This three-building investment property was marketed without an asking price and was offered vacant, “as-is.” It offers multiple parking areas, a creatively designed building with high ceilings and exposed beams that is a short walking distance to public transportation.
Ozturk’s LinkedIn profile lists him as the founder and general partner at March Capital Management. No additional information about Ozturk or his intentions with the property are available at this point.