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350 Bay Street

Anton Qiu's Anchor Pacific Capital Acquires Retail Property In San Francisco For $25.76M
SOLDRetail

Anton Qiu's Anchor Pacific Capital Acquires Retail Property In San Francisco For $25.76M

350 Bay Street & 2351 Powell Street

$25,760,000

$148/SF

Building Size

174,000 SF

Asset Type

Retail

Closing

Dec 22, 2023

AI

San Francisco's NorthPoint Shopping Centre and NorthPoint Vistas apartments have been acquired by Anchor Pacific Capital in partnership with an undisclosed family office. The transaction, which took place on December 22, closed at a price of $25.76 million. The retail property spans 87,000 square feet and is located at 350 Bay Street. It is aimed at attracting a new supermarket and activating the space for the neighborhood and Fisherman’s Wharf.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: $25,760,000
  • Address: 350 Bay Street & 2351 Powell Street, San Francisco
  • Market: San Francisco

Anton Qiu of Anchor Pacific Capital led the acquisition of the NorthPoint properties. Alicia Mueller, Cooper Engst, Jeffrey Weber, and Quynh Le of Eastdil Secured served as the brokers for the deal.

Players

Jeffrey Weber

Eastdil Secured

Broker

$396.3M

vol

3 deals

Broker

San Francisco Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.62%

Cash-on-Cash

-0.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93