Address: 580 Crespi Drive
Year Built: 1980
Building SF: 48,163 SF
Purchase Price: $10 million
Closing Date: December 22, 2020
Projected Hold Period: 3 Years
Single-story, mixed-use light industrial project consisting of two buildings, with 25 total units.
- Currently 94% occupied with staggered short-term lease expirations providing strong cash-flow and flexibility;
- Significant upside potential through condo conversion or repositioning;
- Premier location, Pacifica is a sought after Peninsula submarket with a limited supply of competing product.