Tishman Speyer-Mitsui Fudosan Venture Acquires SF Warehouse
Tishman Speyer and Mitsui Fudosan America (MFA) acquired a 126,000-square-foot, last-mile warehouse and distribution facility at 2225 Jerrold Ave. in San Francisco’s India Basin submarket. The acquisition is the second for Tishman Speyer’s recently launched industrial platform and the first through the Tishman Speyer-Mitsui Fudosan America Logistics Venture.
Tishman Speyer purchased 2225 Jerrold, a 2.88-acre urban infill industrial warehouse located three miles from downtown San Francisco, for $32.75 million in an off-market transaction. The seller wasn’t disclosed.
“We see 2225 Jerrold as a rare opportunity to reposition one of San Francisco’s largest and highest quality infill industrial properties,” said Andy Burke, Tishman Speyer head of industrial. “This is an exciting moment in our partnership with Mitsui Fudosan America as we pursue this and a number of other intriguing opportunities in prime urban locations.”
Constructed in 1982, the facility was purpose-built by its original owner as a last-mile distribution facility. Tishman Speyer and MFA will undertake a series of capital improvements to create a more modern, flexible and efficient facility that will appeal to a wide range of last-mile users.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).