CBRE has secured $52 million of funding for the Comstock Realty Partners and the Dune Real Estate Partners to redevelop the five-structure Maclac Building site in the Mission District of San Francisco. The project includes 192-198 Utah Street and 151-191 Potrero Avenue. Adaptive reuse and new construction will soon transform the site for state-of-the-art light industrial uses in an industrial corner of the city.
Across the five buildings, construction will yield 108,160 square feet for industrial use, with 36,060 square feet and 21 parking spaces in Building A, 8,970 square feet in Building B, 14,040 square feet in Building C, 6,230 square feet in the historic Building D, and 42,860 square feet in Building E. Building B at the corner of Potrero and 15th street will see the rise of a new four-story building.
For Building A and C at 151 Potrero Avenue and Building E at 192 Utah Street, staff will find an accessible green roof and deck with views of the Central Business District.
The Senior Vice President of CBRE spoke about the value the firm saw from the Maclac Building, stating that “the property is situated within the heart of the ‘social-media triangle’ and located at the intersection of Showplace Square, SoMa, Mission District and Potrero Hill, which serves as the epicenter of innovation in the fields of technology, PDR, and life sciences. These submarkets are among the top destination for technology tenants in the city.”
Construction began in May of 2020, with commercial space to be delivered in phases. Buildout is expected by the third quarter of 2022. The property is located three minutes from Franklin Square park and is less than a mile away from the 16th Street Mission BART Station.