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2900 Alemany Boulevard San ...

Updated Oct 29, 2024

Island Pacific Market Signs Long-Term Lease For 33,900 SF Retail Space In San Francisco
LEASEDRetail

Island Pacific Market Signs Long-Term Lease For 33,900 SF Retail Space In San Francisco

2900 Alemany Boulevard San Francisco, California 94112, USA

Building Size

33,900 SF

Asset Type

Retail

Closing

Aug 30, 2023

About this deal

AI

The property involved in this lease transaction is a retail space located at 2900 Alemany Boulevard in the San Francisco market. The asset has a total square footage of 33,900 and is situated in a bustling area.

Summary of transaction details

  • Property Type: Retail
  • Transaction Date: 08/30/2023
  • Address: 2900 Alemany Boulevard
  • Market: San Francisco

The tenant, Island Pacific Market represented by Nino Jefferson Lim, has secured a long-term lease for this retail space. Island Pacific Market will be opening its first grocery store in San Francisco's Outer Mission neighborhood. The store will offer a range of Filipino foods, local produce, and even include a restaurant. With this addition, Island Pacific Market now has five locations in the Bay Area and a total of 19 stores spread across California and Nevada.

Players

Bonita Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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