{"id":1004185894,"date":"2017-08-03T10:21:17","date_gmt":"2017-08-03T18:21:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004185894"},"modified":"2022-12-08T18:37:25","modified_gmt":"2022-12-09T02:37:25","slug":"sf-amazon-building-lands-15m-refi","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/sf-amazon-building-lands-15m-refi\/","title":{"rendered":"SF Amazon Building Lands $15M Refi"},"content":{"rendered":"

By Ariela Moraru<\/p>\n

\"888<\/a>

888 Tennessee St.<\/p><\/div>\n

The S.Hekemian Group secured a $15 million refinancing for a 40,000-square-foot industrial building fully leased to Amazon in San Francisco\u2019s Dogpatch neighborhood. Principal Commercial Capital, Principal Real Estate Investors\u2019 CMBS platform, is the primary servicer of the 10-year, fixed-rate loan, which will refinance the existing mortgage on the property.\u00a0HFF represented the borrower.\u00a0<\/p>\n

Located at 888 Tennessee St., one block west of Third Street and just off Interstate 280, the asset is close to several restaurants, breweries and other retail destinations. The building is part of a larger project with an estimated market value of $50 million. Designed by David Baker Architects, the project is in the approval phase for 110 units, 5,472 square feet of retail and 83 off-street parking spaces. The front door will be located at 789 Minnesota St.<\/p>\n

Last-mile facilities<\/h2>\n

\u201c888 Tennessee is extremely well located in the heart of the San Francisco\u2019s Dogpatch neighborhood with convenient access and walkability to restaurants, shops and transit,\u201d<\/em> said HFF Director Chris Gandy \u2013 who led the debt placement team – in prepared remarks.\u00a0\u201cThis facility acts as the first Amazon Prime Now location in San Francisco, illustrating the extreme demand for last-mile facilities from the e-commerce industry. We feel that we are in the infancy of a shift to last-mile distribution facilities in dense, in-fill urban environments. The property\u2019s location will only improve over time with the development of Pier 70, the Golden State Warriors Stadium, Uber\u2019s HQ campus<\/a> and the continued expansion of UCSF.\u201d <\/em><\/p>\n

Image courtesy of The S.Hekemian Group<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

HFF placed a 10-year loan with Principal Commercial Capital on behalf of The S.Hekemian Group. The 40,000-square-foot industrial asset is part of a $50 million project underway.<\/p>\n","protected":false},"author":960,"featured_media":1004506781,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21825,21748,21752,21742,1609,15],"tags":[37081,32792,33706,37080],"class_list":["post-1004185894","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-finance","category-industrial","category-mixed-use","category-latest","category-san-francisco","category-west","tag-david-baker-architects","tag-hff","tag-principal-real-estate-investors","tag-the-s-hekemian-group"],"acf":[],"yoast_head":"\nSF Amazon Building Lands $15M Refi - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/sf-amazon-building-lands-15m-refi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SF Amazon Building Lands $15M Refi\" \/>\n<meta property=\"og:description\" content=\"HFF placed a 10-year loan with Principal Commercial Capital on behalf of The S.Hekemian Group. 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