Blogs Tagged: real estate development

Potrero Center for Sale!

Posted On: Sunday, November 20, 2011 - 10:14am | Posted By: susanolk
Topics: Press Release

The partnership that owns the Potrero Center at Bryant and 16th Street is looking to sell the property as a potential redevelopment project that could accommodate up to 1,800 apartments.  The Emerald Fund, which owns the 227,000 square foot strip shopping center with a group of partners, has listed the property with Eastdil Secured.  The property, which is 98 per cent leased, could fetch up to $125 million, which would translate to a 5 percent capitalization rate, according to the industry publication Real Estate Alert.