{"id":1004697999,"date":"2024-01-23T00:59:44","date_gmt":"2024-01-23T08:59:44","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004697999"},"modified":"2024-01-23T00:59:46","modified_gmt":"2024-01-23T08:59:46","slug":"san-francisco-industrial-asset-to-become-shelter","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/san-francisco-industrial-asset-to-become-shelter\/","title":{"rendered":"San Francisco Industrial Asset to Become Shelter"},"content":{"rendered":"\n<p><strong>The City of San Francisco <\/strong>has signed a 98,000-square-foot lease with <strong>LB Stone Properties Group<\/strong> at 2177 Jerrold Ave., a 104,098-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/whats-next-for-industrial-real-estate\/\" target=\"_blank\" rel=\"noreferrer noopener\">industrial property<\/a> in San Francisco. The city will use the long-term lease for the Department of Homelessness and Supportive Housing.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a8b06f17f3a5&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-medium is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004698982\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/san-francisco-industrial-asset-to-become-shelter\/2177-jerrold-avenue-62036-phr-001-print\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/2177-jerrold-avenue.62036.phr_.001.print_-e1705996866758.png\" data-orig-size=\"3997,3000\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"2177-jerrold-avenue.62036.phr.001.print\" data-image-description=\"&lt;p&gt;The project proposed at 2177 Jerrold Ave. includes the construction of a cabin village. Image courtesy of Newmark&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The project proposed at 2177 Jerrold Ave. includes the construction of a cabin village. Image courtesy of Newmark&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/2177-jerrold-avenue.62036.phr_.001.print_-e1705996866758.png?w=1024\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" height=\"200\" width=\"300\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/2177-jerrold-avenue.62036.phr_.001.print_-e1705996866758.png?w=300\" alt=\"The project proposed at 2177 Jerrold Ave. includes the construction of a cabin village. Image courtesy of Newmark\" class=\"wp-image-1004698982\" style=\"width:301px;height:auto\"\/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The project proposed at 2177 Jerrold Ave. includes the construction of a cabin village. <em>Image courtesy of Newmark<\/em><\/figcaption><\/figure><\/div>\n\n\n<p><strong>Newmark<\/strong> brokered the deal, with Executive Managing Director Mark Geisreiter, Managing Director Aaron Gillespie and Senior Managing Director Seth McKinnon working on behalf of the landlord.<\/p>\n\n\n\n<p>LB Stone Properties purchased the property back in 2016 for $9.7 million, according to CommercialEdge data.<\/p>\n\n\n\n<p>According to <em>YIMBY<\/em>, a project proposal including a 10-year lease of the property was submitted last year. The project proposed the use of the 2177 Jerrold Ave. property as a temporary shelter for the unhoused. The plans also called for the demolition of an existing warehouse and tenant improvements to the existing office building and warehouse.<\/p>\n\n\n\n<p>Located on 2.3 acres, 2177 Jerrold Ave. comprises two buildings totaling 24,455 square feet and 79,643 square feet of secure yard space. Completed in 1944, one of the buildings, a two-story one, features 10- to 18-foot clear heights, an electric fence, LED lighting and parking spaces. <\/p>\n\n\n\n<p>The property\u2019s central location within San Francisco\u2019s Produce Market provides easy access to Route 101 and Interstate 280. <\/p>\n\n\n\n<p>The Bay Area ranked fifth nationally for industrial transactions last year through October, according to a recent <a href=\"https:\/\/www.commercialsearch.com\/news\/top-5-markets-for-industrial-transactions-4\/\" target=\"_blank\" rel=\"noreferrer noopener\">CommercialEdge\u2019s report<\/a>. The area&#8217;s volume totaled some 6.6 million square feet of industrial space changing hands across 51 properties.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The city leased 90,000 square feet in the Produce Market area.<\/p>\n","protected":false},"author":3014,"featured_media":1004698982,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21748,21742,1609,15],"tags":[50999],"class_list":["post-1004697999","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-industrial","category-latest","category-san-francisco","category-west","tag-newmark"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>San Francisco Industrial Asset to Become Shelter - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"The City of San Francisco signed a 90,000-square-foot lease 2177 Jerrold Ave., a 104,098-square-foot industrial property in San Francisco.\" \/>\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\/san-francisco-industrial-asset-to-become-shelter\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"San Francisco Industrial Asset to Become Shelter\" \/>\n<meta property=\"og:description\" content=\"The City of San Francisco signed a 90,000-square-foot lease 2177 Jerrold Ave., a 104,098-square-foot industrial property in San Francisco.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/san-francisco-industrial-asset-to-become-shelter\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-23T08:59:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-23T08:59:46+00:00\" \/>\n<meta name=\"author\" content=\"Diana Firtea\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/2177-jerrold-avenue.62036.phr_.001.print_-e1705996866758.png\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/san-francisco-industrial-asset-to-become-shelter\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/san-francisco-industrial-asset-to-become-shelter\\\/\"},\"author\":{\"name\":\"Diana Firtea\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/a0c04b9de1387474e28c9ebdb0444e59\"},\"headline\":\"San Francisco Industrial Asset to Become Shelter\",\"datePublished\":\"2024-01-23T08:59:44+00:00\",\"dateModified\":\"2024-01-23T08:59:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/san-francisco-industrial-asset-to-become-shelter\\\/\"},\"wordCount\":254,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/san-francisco-industrial-asset-to-become-shelter\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2024\\\/01\\\/2177-jerrold-avenue.62036.phr_.001.print_-e1705996866758.png\",\"keywords\":[\"Newmark\"],\"articleSection\":[\"Brokerage\",\"Industrial\",\"News\",\"San Francisco\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/san-francisco-industrial-asset-to-become-shelter\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/san-francisco-industrial-asset-to-become-shelter\\\/\",\"name\":\"San Francisco Industrial Asset to Become Shelter - 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