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Real Estate/Development

Apr. 2, 2000

Caltrans site fetches close to $50 million

A 3-acre, two-parcel site fronting on Main, Harrison and Folsom streets in San Francisco, owned by the State of California Department of Transportation, sold to Union Property Capital for between $45 million and $50 million. Exact terms of the transaction were not disclosed.

A 3-acre, two-parcel site fronting on Main, Harrison and Folsom streets in San Francisco, owned by the State of California Department of Transportation, sold to Union Property Capital for between $45 million and $50 million. Exact terms of the transaction were not disclosed.
A 189,000-square-foot building on the site will be renovated for telecom use by Silicon Valley's AboveNet. The 75,000-square-foot land parcel is slated for mixed-use development.
The building, whic...

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