1) 1125 Market Street is a residential development site located in San Francisco's Mid-Market area near the Civic Center and Van Ness Corridor districts.
2) The 12,401 square foot site has zoning that allows for residential units at a density of 1 unit per 125 square feet of lot area. Density studies show the site could support around 122 total units.
3) The prime location provides easy access to downtown San Francisco as well as nearby neighborhoods like Hayes Valley. It is well-served by public transit including BART and Muni stations.
1. 1125 Market
1125 MARKET STREET Street
San Francisco, CA
Ma
rke
tS
t
Confidential Offering
Memorandum
St
h
8t
PRESENTED David Wientjes Clayton Jew
BY 415.229.8969 415.229.8920
davidw@kiddermathews.com cjew@kiddermathews.com
LIC #00869637 LIC #00834308
2. t St
rke
Ma
1125 MARKET STREET
ter St
McAllis
Golden Gate Ave
3. NORTH
BEACH
CHINATOWN
NOB HILL
FINANCIAL
DISTRICT
UNION
SQUARE
CIVIC
CENTER
1125 MARKET STREET
HAYES
VALLEY
4. 1125 Market Street | San Francisco, CA
Contents
1. Executive Summary
• Offering Overview
• Project Description
• Investment Highlights
• Location Map
2. Project Description
• Assumptions
• Site Plan
3. Density Analysis
4. Location
• San Francisco Area
• Notable Mid Market Projects
5. Market Overview
• Apartment Market Snapshot
• Downtown San Francisco Residential Pipeline
• Entitled Projects
This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee,
expressed or implied as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification Page 4
of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney,
accountant, or other professional advisor.
6. 1125 Market Street | San Francisco, CA
Executive Summary
OFFERING OVERVIEW
1125 Market Street represents a unique opportunity to acquire a residential
development project in the heart of the Mid Market and Civic Center/Van Ness
Corridor districts of San Francisco. The property benefits from its proximity to
all that San Francisco has to offer with major freeway and mass transit access
points to North Bay and the Peninsula.
Price
1125 Market Street is being offered without an asking price.
Offering Process
All Offers should be delivered to the offices of the Advisor, Kidder Mathews,
attention David Wientjes or Clayton Jew, by fax at 415-229-8987 or e-mail
at davidw@kiddermathews or cjew@kiddermathews.com. We request that
interested parties submit a formal Letter of Intent (“LOI”) on the Offer Date
outlining their company background along with the salient terms by which
they intend to purchase the Property, including purchase price, deposits, due
diligence period, and closing period.
Page 6
7. 1125 Market Street | San Francisco, CA
PROJECT DESCRIPTION • Approved payroll tax incentives on new jobs, luring employers to
immediate area
• Established and highly desirable location
• Lack of developable land and strict land use controls hindering new
• Outstanding demographics
development
INVESTMENT HIGHLIGHTS • In proximity to a number of colleges including the Academy of Art
University, California Art Institute, Hastings College, and Dugoni School of
• 2 blocks from Market Square, headquarters for Twitter
Dentistry
• Existing 12,401 square foot site (no demolition required)
• Within the emerging Central Market Corridor, home of Twitter and notable
residential projects such as Crescent Heights, Avalon Bay and Trinity
Plaza
• Immediately adjacent to the Strand Theater recently purchased by ACT
theater
• Located next to Hayes Valley - noted for outstanding urban living, world
class restaurants and nightlife, urban agriculture and community ethic
• Bordering Civic Center and Van Ness Corridor, the cultural heart of
San Francisco
• BART and Muni entry in front of property
• Economic recovery in full swing
1355 Market Street | Home of Twitter and Yammer
• Easy access to 101 and 280 freeways
Page 7
8. 1125 Market Street | San Francisco, CA
LOCATION MAP
CA Art Residential Development
Proposed SF PUC 50 UN Institute
California
PUC Headquarters Asian Plaza (Federal) 1 1 1 Polk - The Argenta
r S tr e e
t Art
Museum 1125 MARKET STREET 179 Units
M c A ll is te 2 10th & Market - Crescent Heights
ACT
Civic Theatre
2 750 Units
ld l
B era
Center Plaza
16,000 SF retail
g
Herbst
ce d
ffi Fe
Theater (845 Parking
O w
SF Spaces) 3 Trinity Developments
e
N
City Hall
SF Main
Public Library
1,900 Units
60,000 SF retail
t ree
7 3 4 1390 Market - Fox Plaza
li n S t
War Memorial
Opera House S tr e e t 3 230 Units
G ro v e
ue
5 77 Van Ness
Frank
Bill Graham
Aven
Civic
4 48 Units
8t
Auditorium 1275 Market
h
Divco West 6 55 Page Street - The Hayes
S
Davies
ess
tr
Symphony
128 Units
ee
Hall
t
Va n N
Academy
7 SoMa Grand
of Art
4 5
University
et 8 246 Units
S tr e e t e
Hayes Emerald tr 9t 8 55 9th Street - Avalon Bay
S
Fund 1 et h
S
6 260 Units
Development k
400+ Units ar tr
ee
M Market Square t
(Twitter)
eet
F e ll S tr 5 1.1M SF
7
2
8
on
San Francisco
1455 Market
Conservatory i
ss
of Music Hudson Pacific
i
tr e e t
M
Oak S
11
th
City of SF
S
Muni tr
Headquarters ee
t
tr e e t
Page S
6
Page 8
10. 1125 Market Street | San Francisco, CA
Project Description
122 UNIT DENSITY STUDY
Page 10
11. 1125 Market Street | San Francisco, CA
ASSUMPTIONS
Municipal Address 1125 Market Street, San Francisco, CA (Northside, between 7th and 8th Streets)
Zoning (Market Octavia Area Plan) C3G (Downtown General Commercial District)
Parcel Number Block 3702 - Lot 047
Height and Bulk Limit 120-X (No Bulk)
Dwelling Unit Density 1 dwelling unit for each 125 SF of lot area is a permitted use. A greater density, limited by the discretion of the Planning
Commission, is a conditional use. A greater density, limited by the discretion of the Planning Commission, is a conditional use.
FAR 6.0 to 1 (without TDR’s), 9.0 to 1 (with TDR’s)
Maximum FAR 1.5 x basic FAR = 1.5 x 6.0 = 9.0
The gross area of the lot in the C-3-R, C-3-S % C-3-G Distircits may not exceed a floor area that is 1 1/2 times the basic area
limit for the district. Therefore it may only reach a maximum of 9.0 to 1.
Parking Off-Street Parking: Residential - Not required in any C-3 district, Non-Residential - Not required in any C-3 district
Maximum Parking Allowed: Permitted up to one car for each four dwelling units; up to 0.75 cars for each dwelling unit,
subject to the criteria and procedures of Section 151.1(f); not permitted above 0.75 cars for each dwelling unit.
Bicycle Parking: For projects up to 50 dwelling units, one Class 1 space for every 2 dwelling units. For projects over 50
dwelling units, 25 Class 1 spaces plus one Class 1 space for every 4 dwelling units over 50.
Site Size (Per Realquest) 165 feet x 75.167 feet = 12,402.56
Allowable Conditional Uses Residential, Retail, Entertainment, Wholesale
Highest and Best Use Residential Apartments/Condos
Street Frontage Market Street - 75.167’
Page 11
12. 1125 Market Street | San Francisco, CA
SITE PLAN
1125 Market Street is located on the block bounded by 7th and 8th Streets and Stevenson Street. The Property is located and referred to by Assesor’s Numbers
3207-047. The site is a rectangular shape containing ±12,401 square feet (.28 acres) of land.
Page 12
14. 1125 Market Street | San Francisco, CA
Density Analysis
1125 MARKET STREET
San Francisco, CA
Astoria Properties LLC
Heller Manus Architects
March 27, 2012
AREA SUMMARY PARKING OPEN SPACE UNIT MIX
Resid. Unit Resid. Unit Resid. Residential Residential
Level NSF GSF Common GSF Retail GSF Parking GSF Mech. GSF Total GSF Parking Stalls Bicycle Stalls Common Private Retail JR 1 BR 1 BR 2 BR # Units Level
R 560 560 5,856 R
12 6,830 10,045 10,045 7 3 1 11 12
11 6,830 10,045 10,045 7 3 1 11 11
10 6,830 10,045 10,045 7 3 1 11 10
9 6,830 10,045 10,045 7 3 1 11 9
8 6,830 10,045 10,045 7 3 1 11 8
7 6,830 10,045 10,045 7 3 1 11 7
6 6,830 10,045 10,045 7 3 1 11 6
5 6,830 10,045 10,045 7 3 1 11 5
4 6,830 10,045 10,045 7 3 1 11 4
3 6,830 10,045 10,045 7 3 1 11 3
2 6,790 10,045 10,045 10 2 0 12 2
1 3,500 8,365 11,865 1
B 11,940 11,940 19 43 B
TOTAL 75,090 110,495 3,500 8,365 11,940 560 134,860 19 43 5,856 0 0 80 32 10 122
UNIT TYPES JR 1 BR 1 BR 2 BR Total
UNIT RATIOS 65.6% 26.2% 8.2% 100.0%
FAR CALCULATIONS: OPEN SPACE CALCULATIONS:
Building GFA = 110,495 GFA (excludes retail, parking and mech. penthouse) Residential:
Site Area = 12,401 SF Total Units = 122 units
FAR = 8.91 Common Open Space Required = 122 units x 48 sf =5,856 sf
Common Open Space Provided = 5,856 sf
TDR CALCULATIONS: Retail:
Base FAR = 6 Open Space Required = 8,365 sf / 50 = 168 sf
Base FAR + TDR = 8.91 Open Space Provided = 0 sf
TDR's Required = 36,089 SF (This is assumed being covered by paying an in-lieu open space fee)
Assumptions:
1. Residential Unit NSF areas are taken from paint-to-paint within each of the units.
2. The rear yard (sec. 134) and dwelling unit facing an open area (sec. 140) requirements will require asking for exceptions to the Planning Code.
Page 14
16. 1125 Market Street | San Francisco, CA
Location
SAN FRANCISCO AREA
or
Western Addition
rrid
Fillmore
Co
Financial
ss
Union
Ne
Square District
Civic
Van
Hayes Center
Valley
Yerba
Octavia/ Buena
Market 1125 MARKET STREET
SoMa
Castro Mission
Page 16
17. 1125 Market Street | San Francisco, CA
The vibrant and dynamic San Francisco Bay Area is equidistant to Europe
and Asia, making it a strategic location for global businesses and one of
the leading centers for international commerce. The city of San Francisco is
situated on a 46.6 square mile peninsula bordered by the Pacific Ocean to the
west, Marin county to the north, and San Francisco Bay’s vast deep-water
harbors to the east. The Bay Area’s long standing cultural and commercial
ties with Asia provide a unique competitive advantage for sustaining San
Francisco’s status as the gateway to the Pacific Rim.
San Francisco is the commercial center of the nine-county Bay Area region
and is the 24th largest economic market in the world. With over seven million
residents, the San Francisco Bay Area is the 5th largest metropolitan area in
the United States and world famous for its scenic beauty, 24-hour “live/work/
play” environment and unparalleled amenity base downtown.
Forbes magazine indicates that San Francisco and the Bay Area remain
among the top areas in the country for growth in jobs, income and output.
boasts great diversity, with substantial financial services, professional
Because of these and other factors, San Francisco emerged from the
services, technology, real estate, entertainment, consumer goods, advertising,
recession of the early 1990’s and 2008 as one of the most dynamic and
biotechnology, tourism, education and engineering sectors. San Francisco
desirable places to visit, live and work in the world. It is not surprising that
boasts one of the most highly educated and diverse work forces in the world
Price Waterhouse Cooper’ “Emerging Trends in Real Estate,” a survey of over
and the San Francisco Bay Area owes much of its economic success to its
150 investors, owners and other experts in the U.S. has repeatedly named
extraordinary human capital.
San Francisco as one of the most desirable targets for investment. Home
to nearly 800,000 residents (projected to grow to 957,000 residents by the Local companies have access to a large pool of creative, motivated, and
year 2035), San Francisco is the Bay Area’s most densely populated city with highly educated candidates: 42 percent are college graduates and 78 percent
numerous major publicly traded and private companies and is among the have high school diplomas. The depth and quality of the labor pool are due
most popular cities in the world to live, work and visit. The City’s economy
Page 17
18. 1125 Market Street | San Francisco, CA
in part to the fine colleges and universities located in the region, including the • Firms such as Apple, Oracle, Cisco and Intel make the San Francisco Bay
world-class University of California at Berkeley, the University of California Area the nation’s leading producer of computer hardware and software. In
at San Francisco and Stanford University. The work force earns a per capita addition, leading internet companies including Google, eBay and Yahoo!
income 12 percent higher than the statewide average and 37 percent higher maintain their headquarters in the Bay Area.
than the national average. Recognizing local academic talent, Bay Area
• Leading Bay Area universities such as UCSF, UC Berkeley and Stanford
universities receive many corporate research grants , which typically flow to
are attracting to the Bay Area the world’s greatest concentrations
top-tier universities. Ten Bay Area universities invest a combined $650 million
of biotechnology and life science companies. The majority of these
annually on bioscience research alone.
companies are located along the San Francisco Peninsula, from Mission
• The Wall Street Journal declared San Francisco as the number one Bay in San Francisco to San Jose.
desired location for recent graduates from the nation’s top business
schools.
• In San Francisco, job growth averages 10,000 new jobs a year with
unemployment well below the state and national figures.
Economic Highlights
• The Bay Area has long been recognized as one of the most important
innovative and rapidly growing high-technology sectors such as computer
and biotechnology, unparalleled access to capital markets including the
most active venture capital market in the world.
• Twenty-eight Fortune 500 and fifty-three Fortune 1,000 firms have their
corporate headquarters in the Bay Area. Major international corporations,
banks, financial services companies and venture capital firms are located
in the region that collectively provides the necessary capital to fund the
region’s economic strength.
Page 18
19. 1125 Market Street | San Francisco, CA
San Francisco Premier Tourist Destination
San Francisco is consistently viewed as one of the world’s premier tourist
destinations and receives over 17 million visitors a year. Visitor and convention
spending generates over $8.5 billion annually. The Moscone Center and
Moscone Center West host conventions throughout the year drawing in people
from around the globe. About 60 percent of San Francisco’s visitors attend
conventions.
The San Francisco lodging market has performed exceptionally well in
the past twelve months, and according to Smith Travel Research, the San
Francisco-San Mateo lodging market ranked third among the top 25 markets
nationwide in overall market RevPAR only behind New York and Honolulu.
Comprised of a total of approximately 51,900 guestrooms in 398 properties,
the San Francisco area’s numerous tourist attractions, expansive meeting and
convention facilities, and a diverse economy makes the region one of the top
lodging destinations in the country.
Moscone Center
Page 19
20. 1125 Market Street | San Francisco, CA
Location Overview
1125 Market Street is located within the Mid Market District and borders the
Van Ness/Civic center neighborhood in the center of the city, where Market
Street and Van Ness Avenue intersect. It is also in proximity to Hayes Valley,
SoMa, San Francisco’s downtown area, Union Square and Moscone Center.
The Renaissance of Central Market
Central Market, an area bounded by Van Ness Avenue, is undergoing an
extraordinary renaissance due to it’s proximity to a vital transportation corridor
along Market Street, the increased demand for housing and commercial office
space due to the technology boom and the city of San Francisco’s focus to Trinity Plaza
revitalize Central Market Street.
The San Francisco Board of Supervisors passed a payroll tax exemption in
April 2011 which provides a six-year tax break for new employees hired at
companies that move to an office location in the Central Market corridor.
The tax break has attracted the world headquarter offices of Twitter to lease
215,000 square feet at Shorenstein’s 1 million square feet at 10th and Market
Streets. Other growing technology and creative companies are following such
as Zoosk, Yammer, ZenDesk, Burning Man, CallSocket and One King’s Lane.
The revitalization of Central Market are motivating major institutional investors
to invest substantial capital into existing buildings such as Hudson Pacific,
Shorenstein, Behringer Harvard, and TMG/Divcowest. Crescent Heights Avalon Bay
Major residential projects are either in construction or breaking ground
including Trinity Plaza, Crescent Heights and Avalon Bay.
Page 20
21. 1125 Market Street | San Francisco, CA
Civic Center
1125 Market Street is located in proximity to the Civic Center neighborhood
which contains many of the City’s largest government and cultural institutions.
The area has a total of 6.5 million square feet of office space. Civic Center
complex is seen as the cultural heart of San Francisco and the City has
invested heavily in the area over the recent years including a new Symphony
Hall, a renovated Opera House, a new Asian Arts Museum, a new library
and a renovated City Hall. The private sector has supplemented this with
development of luxury housing, a commercial office space and amenities.
Performance venues such as Bill Graham Civic Auditorium and the Orpheum
add to the excitement of this district. Civic Center still remains the heart of
San Francisco as witnessed by the numerous political events, annual festivals,
and massive parades such as the San Francisco Giants World Championship
celebration.
Argenta
Page 21
22. 1125 Market Street | San Francisco, CA
NOTABLE CENTRAL MARKET PROJECTS
STATUS/
PROCESS USE UNITS/SIZE DEVELOPER
COMPLETION
1 100-150 Van Office ±600,000 SF to Emerald Fund In Planning
1125 MARKET STREET
Ness be redeveloped Advisor
101 Hayes into residential
2 150 Hayes Office ±130,000 SF Academy of Arts In Planning 11
12
University
3 The Argenta Residential 179 apartments Behringer Harvard Completed
9
4 Archstone Fox Residential 443 apartments Archstone In Planning 2
Plaza 1
4 10
5 1455 Market Office +1 million SF Hudson Pacific Leased 3
Bank of Properties 8
America Data 6
Center 5 7
6 1401 Market Residential 754 apartments Crescent Heights Under construction
7 Mercy Housing Residential 136 apartments Mercy Housing Completed
Developments plus 107
apartments for
senior housing
8 Market Square Office +1 million SF of Shorenstein Twitter 215,000
1355 Market office space to Properties One King’s Lane
be redeveloped 50,000
CallSocket 32,000
9 1275 Market Office 346,202 SF Divcowest/TMG In planning
Partners
10 55 9th Street Residential 260 apartments Avalon Bay Construction
11 The SoMa Residential 246 condos AIG Capital Completed
Grand TMG Partners
12 Trinity Plaza Residential 1,900 Trinity Properties Building 1 completed
apartments Building 2 under
construction
Page 22
24. 1125 Market Street | San Francisco, CA
Market Overview
APARTMENT MARKET SNAPSHOT professional and business services and other technology companies was
gobbling up apartments on site.
• Overall San Francisco Vacancy Rate: 4%
“We’re seeing a new demographic entering the housing – Generation Y”,
• Vacancy Rate in Comparable New Projects: 1%
according to Sarah Bridge of RealFacts. “Their preference is to live in the
• Average Rent in Comparable Projects: $4.18 PSF heart of vital, thriving community like San Francisco. They want to be where
the action is, and they don’t mind being in a small studio apartment as long as
• Rent Growth in Past 12 Months: 10% it’s well located.”
The San Francisco Apartment Market The San Francisco apartment market is the strongest in California, it has
always been a city of renters as only about a third it residents are homeowners
Over the past several years, San Francisco has continued to outperform other
which is about half the national ownership rate.
major multifamily markets in the United States and is positioned to continue
this performance due to strong fundamentals in the marketplace. The
reputable multifamily market in San Francisco has benefited from population
and job growth, stable income and strict land use controls hindering new
development, and lack of home ownership affordability in key districts and
locations.
Supply and Demand
Beginning in 2010, San Francisco witnessed a turnaround from the deep
national recession where 1,391 units of net absorption were realized. The
vibrant local economy was responsible for driving demand for apartments,
a new wave of tech workers hired by rapidly growing social media, gaming,
Page 24
25. 1125 Market Street | San Francisco, CA
Vacancy and Rents Q4 2011 vs. Q4 2010 Change in Rental Rates
• Average apartment rental rates in San Francisco increased by 15.6% • Studio: 18.8%
during the fourth quarter of 2011 compared to the same quarter one year
• 1 Bedroom / 1 Bath: 17.2%
ago, marking the fourth consecutive quarter of positive rental growth.
• 2 Bedroom / 1 Bath: 15.1%
• The vacancy rate for San Francisco apartments remained low at 3.7%
during the fourth quarter of 2011. • 2 Bedroom / 2 Bath: 17.6%
• Studio apartment rents continued to outperform the market as a whole, • 3 Bedroom / 2 Bath: -0.4%
posting an increase of 18.8% during the fourth quarter compared to the
same quarter one year ago. • All Unit Types: 15.6%
$3,000 12%
$2,500 10%
Average Rental Rate
$2,000 8%
Vacancy Rate
$1,500 6%
$1,000 4%
Average Rental Rate: $2,590
$500 2%
Vacancy Rate: 3.7%
$0 0%
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2006 2007 2007 2007 2007 2008 2008 2008 2008 2009 2009 2009 2009 2010 2010 2010 2010 2011 2011 2011 2011
Page 25
26. 1125 Market Street | San Francisco, CA
RENTAL MARKET COMPARABLES
2000 Broadway ARGENTA 1 Polk Street
No. of Units 220 No. of Units 179
Year Built 1974 Year Built 2008
Unit Mix SF Rental Rate $/SF Unit Mix SF Rental Rate $/SF
Studio 500 $2,349-$3,024 $5.15 1BR/1BA, 609-1,374 $$2,712-$4,400 $3.93
Jr. 1 600 $2,649-$3,129 $4.68 2BR/2BA
2BR/2BA 1,100 $4,244-$4,644 $3.98 Averages 799 $3,140 $3.93
Averages 613 $2,894 $4.72
2000 Post Street Avalon at Mission Bay North
No. of Units 304 No. of Units 823
Year Built 1986 Year Built 2002 and 2009
Unit Mix SF Rental Rate $/SF Unit Mix SF Rental Rate $/SF
Studio 500 $1,998 $4.00 Studio 572 $2,405-$2,830 $4.45
1BR/1BA 630 $2,660 $4.22 1BR/1BA 814 $2,645-$3,375 $3.55
2BR/2BA* 930 $3,409 $3.67 1BR TH 967 $2,805 $2.90
Averages 625 $2,491 $3.98 2BR/2BA 1,234 $3,985-$5,065 $3.52
* The rental rate for 2BR/2BA units shown above is out of date since there 2BR TH 1,431-1,528 $3,080-$3,255 $2.14
has not been a 2BR/2BA unit available recently. If one becomes available, 3BR/2BA 1,380 $4,450 $3.22
asking rent is likely to be approximately $3,800 per month ($4.09/SF) or Averages 613 $2,894 $3.62
higher.
Page 26
27. 1125 Market Street | San Francisco, CA
RENTAL MARKET COMPARABLES
Geary Courtyard - 639 Geary
No. of Units 164
Year Built 1990
Unit Mix SF Rental Rate $/SF
Studio 485 $2,040-$2,205 $4.32
1BR/1BA 690 $2,640-$2,655 $3.83
Averages 648 $2,534 $3.91
The Paramount - 680 Mission Street
No. of Units 486
Year Built 2001
Unit Mix SF Rental Rate $/SF
Studio 500 $2,500-$2,900 $5.27
1BR/1BA 700 $3,000-$3,895 $4.71
2BR/2BA 1,100 $4,000-$7,000 $5.00
Averages 705 $3,393 $4.81
Page 27
28. 1125 Market Street | San Francisco, CA
DOWNTOWN SAN FRANCISCO RESIDENTIAL PIPELINE
ESTIMATED
DEVELOPMENT DEVELOPER/OWNER # UNITS TYPE SUBMARKET
COMPLETION
UNDER CONSTRUCTION
1844 Market Street MacFarlane Partners 113 Rental 2012 Hayes Valley
Potrero Launch - 2235 3rd Street Martin Building Company 196 Rental 2012 Central Waterfront
Madrone - 435 China Basin Way Bosa Development 329 Condo 2012 Mission Bay
10th & Market Site Crescent Heights 754 Rental 2013 Mid-Market
Trinity Plaza - Phase II Trinity Properties 440 Rental 2013 Mid-Market
TOTAL 1,832
FUTURE APPROVED PROJECTS
401 Grove Street Pocket Development 61 Rental TBD Hayes Valley
1450 Franklin Street Pacific Heights Franklin Partners 69 Condo TBD Lower Pacific Heights
277 Golden Gate Avenue PANCO Development 88 Rental TBD Mid-Market
1390 Market Street - Fox Plaza Presidio Development Partners 230 Condo TBD Mid-Market
55 9th Street Avalon Bay 260 Rental TBD Mid-Market
Trinity Plaza Phase III Trinity Properties 1,020 Rental TBD Mid-Market
Block 3 West - Mission Bay Urban Housing Group 147 Rental TBD Mission Bay
Block 11 - Mission Bay BRE Properties 171 Condo TBD Mission Bay
Block 5 - Mission Bay BRE Properties 198 Condo TBD Mission Bay
Block 12 East - Mission Bay Bosa Development 273 Condo TBD Mission Bay
Page 28
29. 1125 Market Street | San Francisco, CA
FUTURE APPROVED PROJECTS (CONTINUED)
Block 2 - Mission Bay United Dominion Realty 315 Rental TBD Mission Bay
1960-1998 Market Street Brian Spiers 115 Condo TBD Mission Dolores
1800 Van Ness Avenue Oyster Development 62 Condo TBD Nob Hill
One Rincon Hill - Phase II Urban West Associates 312 Condo TBD Rincon Hill
340-360 Fremont Street Archstone 384 Condo TBD Rincon Hill
375-399 Fremont Street Fifield Companies 432 TBD TBD Rincon Hill
The Infinity - Phase II Tishman Speyer 806 Condo TBD Rincon Hill
45 Lansing Street Crescent Heights 330 Condo TBD Rincon Hill
325 Fremont Street 325 Fremont St, LLC 70 Condo TBD Rincon Hill
430 Main Street Portland-Pacific, LLC 113 Rental TBD Rincon Hill
900 Folsom Street Avant Housing 300 Condo TBD SOMA
240-260 5th Street Avant Housing 150 Condo TBD SOMA
178 Townsend Street Martin Building Company 94 Rental 2012 South Beach
1285 Sutter Street Gerding Edlen 107 Rental TBD Van Ness/Civic Center
TOTAL 6,107
Page B
30. 1125 Market Street | San Francisco, CA
LAND SALES
SALE PRICE PROPOSED
SITE SALE DATE SELLER BUYER $/UNIT
(APPROX.) UNITS
1 Block 11 Mission Bay Apr-11 Farallon Capital Management BRE Properties $19.2 M 171 $112,281
2 Block 12E Mission Bay Apr-11 Farallon Capital Management BOSA $30 M 273 $109,890
3 Block 5 Mission Bay Apr-11 BOSA BRE Properties $22.2 M 198 $112,121
4 1285 Sutter St. Nov-10 Rockpoint Capital Gerding Edlen $9.15 M 106 $86,321
5 Block 2 Mission Bay Sep-10 Farallon Capital Management United Dominion Realty $23.6 M 315 $74,921
6 Block 3W Mission Bay Nov-10 Farallon Capital Management Urban Housing Group $11.8 M 147 $80,000
7 400 Grove St., Parcel H Nov-10 City of San Francisco DM Development $3.012 M 31 $97,177
8 450 Hayes St., Parcel J Nov-10 City of San Francisco DM Development $5.025 M 50 $100,500
9 401 Grove St. Sep-10 Cathay Bank Pocket Development $4.4 M 61 $72,131
10 325 Fremont St. Dec-11 - Crescent Heights $4.75 M 70 $67,857
11 399 Fremont St. Jan-12 - - $33.75 M 450 $75,000
12 101 Hayes (unentitled) Dec-11 Rescalvo Trust Emerald Fund/NREA $3.8 M Est. 65 $58,846
13 1415 Mission St. In contract R&K Investments Not disclosed $8.5 M 117 $73,000
TOTAL AVERAGE $86,157
Page 30
31. 1125 Market
Street
San Francisco, CA
PRESENTED David Wientjes Clayton Jew
BY 415.229.8969 415.229.8920
davidw@kiddermathews.com cjew@kiddermathews.com
LIC #00869637 LIC #00834308