OAKLAND, CA—Real Estate investor Tom Henderson has picked up the former I. Magnin store at 20th Street and Broadway. The former department store joins several other high profile purchases in the last 18 months by the CEO of San Francisco Regional Center.
Henderson told the San Francisco Business Times that he expects the deal with seller Beacon Group Ventures to close within a month.
The owner of the 59,427-square-foot building had gone into contract with the University of California Press last year, but that deal fell apart.
The San Francisco Regional Center is a firm that facilitates the federal government's EB-5 visa program, which allows foreigners to gain legal residency in exchange for investing and creating jobs. Henderson also bought the Tribune Tower in fall of 2011 and at least three other buildings last year.
Click San Francisco Business Times to read the full story.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
