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Optimus Expands Retail Presence on San Francisco Peninsula
Optimus Properties, LLC, a Los Angeles-based real estate investment and development firm, closed on the acquisition of the Laurel Street Retail Portfolio, a three-building, non-contiguous street retail portfolio located in downtown San Carlos. Seller and purchase price were not disclosed. The portfolio is occupied by a mix of local retailers and service-oriented tenants.
Located at 625-629 Laurel St., 641-645 Laurel St., and 653-657 Laurel St., the portfolio is situated in the city’s primary retail corridor, characterized by strong foot traffic, high-end dining, boutique retail, and direct access to public transit. The acquisition expands Optimus Properties’ presence on the San Francisco Peninsula.
“This acquisition aligns perfectly with our strategy of purchasing irreplaceable street retail at a compelling basis and executing a hands-on, value-add business plan,” said Kamyar Shabani, co-founder and principal at Optimus Properties. “This is exactly the type of deal we look for—high-quality real estate with multiple paths to value creation.”
- ◦Sale/Acquisition
