888 Tennessee is the purchase of an existing 39,000 square foot industrial property in the thriving Dogpatch neighborhood of San Francisco. The purchase is based on the existing industrial use. Future approvals are approximated to be 110 multi-family units and 6,000 square feet of street-level retail, based on the existing UMU zoning standards. Approximate market value is estimated at $50 million.
The project is designed to respect the scale and industrial feel of the evolving neighborhood, and to embrace Esprit Park, situated immediately to the west of the site. 888 Tennessee Street will offer ample green transit options through an abundance of bike storage onsite, and by virtue of the MUNI light rail one block to the east. We were drawn to the neighborhood by its eclectic combination of unique retailers, restaurants, wine bars, designers, and light industrial creative manufacturers – in addition to its immediate adjacency to the waterfront, Potrero Hill, and Mission neighborhoods.
Source: The S.Hekemian Group