Retail Asset Trades for Record Price in SOMA
The 3,000-square-foot building was sold by Starboard TCN for just over $1,000 per square foot.
By IvyLee Rosario
1088 Howard St., San Francisco
San Francisco—Starboard Commercial Real Estate announced the sale of 1088 Howard St. in San Francisco. The 3,000-square-foot building sold for just over $1,000 per square foot, one of the highest building prices in western South of Market district. Starboard brokers Craig Hansson, Jerry Adamson and Hans Hansson represented the seller ,which received multiple bids and sold the building to a local buyer in a 1031 exchange.
“The asset provided an opportunity for the buyer to purchase the property along with an adjacent parking lot which will enable further development,” said Craig Hansson, senior sales and leasing specialist for Starboard TCN.
Located in a thriving neighborhood, the property is in close proximity to BART, MUNI and popular retail spots such as Harvest Urban Market, Rocco’s Café and AQ Restaurant. The building features a 4,500-square-foot lot, and flexible zoning that allows for office, retail or housing, and a parking lot adjacent to the property, which is a rare find in the area.
Image via Google Street View
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