The Opportunity
In 1997, MCC identified, through
existing relationships, an opportunity to acquire China Basin, a
732,000 square foot, two-building office complex in San Francisco.
The property was approximately 75% leased upon acquisition. MCC’s
objective was to stabilize occupancy, construct a new underground
parking facility, obtain entitlements for expansion and to
position the property to benefit from the billions of dollars of
improvements to be undertaken in the South of Market and Mission
Bay submarkets by the San Francisco Giants, Catellus and the City
of San Francisco.
Performance Highlights
Constructed a highly complicated,
225-stall parking garage beneath one existing building.
Obtained entitlements for 50,000
square feet of new office space and 120 apartments and
successfully converted the entitlements to 175,000 square feet of
R&D/Life Science space.
Designed a first-of-its-kind
base-isolated structure atop a fixed-base building.
Commenced and completed the
development of the 175,000 square foot Berry Building addition
on-time and within budget.
Completed numerous extensive common
area renovations and building upgrades at the project.
Completed over 1.3 million square feet
of leases since acquisition, including over 200,000 square feet to
the University of California, San Francisco.
Current Status
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