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.
- 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.
MCC is currently joint venture owner, property manager, development manager and leasing agent for China Basin.