Address: 580 Crespi Drive
Year Built: 1980
Building SF: 48,163 SF
Acquisition Date: December 22, 2020
Projected Hold Period:
2.5 Years
Single-story, mixed-use light industrial project consisting of two buildings, with 25 total units.
- 94% occupancy at acquisition with staggered short-term lease expirations providing strong cash-flow and flexibility;
- Significant upside potential through condo conversion or repositioning;
- Upon execution of the business plan, total actual gross condominium sales exceed the pro forma by nearly 13%
- Premier location, Pacifica is a sought after Peninsula submarket with a limited supply of competing product.
