An industrial property developer and owner with global operations has been quietly buying into San Francisco's Bayview District.
Goodman North America, which is headquartered in Irvine and is a subsidiary of Australia's largest industrial property developer, acquired three industrial properties in the neighborhood late last year for $110 million, public records show. One of the purchases is a 30,000-square-foot former U.S. Postal Service distribution center located on a roughly 5-acre site at 180 Napoleon St., for which Goodman paid about $83 million. The company also picked up two smaller, nearby properties at 25 and 251 Napoleon streets for $27 million.
The deals come about six months after the company shelled out $70 million to purchase an urban infill site a mile away at 2270 Jerrold Ave. The property, known as the Goodman Industrial Center, is home to three industrial buildings totaling 13,200 square feet. The sales price was reported as representing of theGoodman did not immediately respond to a message seeking comment on Wednesday.
All four properties are zoned for production, distribution and repair , meaning that future redevelopment could accommodate a range of permitted uses, including light manufacturing and laboratories.Goodman has listed 2270 Jerrold Ave. as available for leasing on its website.
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Source: SFBusinessTimes - 🏆 78. / 68 Read more »