The new owner is a partnership of two San Francisco-based companies, the real estate investment management firm Zapolski Rudd LLC and retail developer Reininga Corp. For Zapolski Rudd, the center represents the up-leg of a 1031 exchange; the down-leg was the December 2006 sale of 580 Market St. in Downtown San Francisco.
Zapolski Rudd's Matt Brasler tells GlobeSt.com the drug store and the post office are long-term tenants and each has its own building. The upcoming value-add opportunity is re-tenanting space that will be vacated by a gym at the end of the year. The triple-net asking rent at the property is $4 per sf.
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