Pacifica Commerce Center

Pacifica, CA

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

Highlights

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.

Overview - Projected Project Level Returns

40.30%

Projected IRR

1.87x

Equity Multiple

3 Years

Hold Period