Warriors Purchase in Mission Bay Closes at $155.1MM

Warriors, Golden State Warriors, Mission Bay, San Francisco, Salesforce, steelblue, NBA, arena

Mission Bay Warriors Arena

The Golden State Warriors announced a couple of weeks ago that they closed on the purchase of the 12-acre Mission Bay site in San Francisco where they plan to build their new home. Several media reports pinned the sales price around $150 million, but The Registry today learned that the official figure came in at $155.1 million.

The seller was the the CRM platform company Salesforce, which had purchased the land in November of 2010 for $137.5 million. At the time, Salesforce was in the midst of developing plans to build a 14-acre campus in Mission Bay, but then two years later placed those plans on indefinite hold. In the meantime, the company has took a turn toward leasing space it needed instead of building it. At the same time, it began selling off parts of the Mission Bay land.

Plans call for the Warriors to build a privately funded $1 billion-plus, 18,000-seat sports-and-entertainment venue. The project also would include a 5.5-acre public park on the waterfront, 580,000 square feet of office and lab space and 100,000 square feet of retail space along with restaurants, cafes and public plazas. Environmental review for the project is expected to be completed this fall. The Warriors look to open the stadium for the 2018-19 National Basketball Association season. The team’s home court has been Oracle Arena in Oakland for more than 40 years.

“If there were any lingering doubts about our commitment to Mission Bay, purchasing this land should put them to rest,” said Warriors President and COO Rick Welts in a statement. “We love this neighborhood – nobody else is getting this land.”

Along with NBA basketball, the arena will host about 225 other events, including concerts and conventions, each year.

Rendering courtesy of steelblue.

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