The San Francisco Giftcenter and Jewelrymart are housed in 888 Brannan St, an architecturally noteworthy five-story building developed in 1918, and 850 Brannan St, a three-story building developed in 1987.
Also included in the acquisition is 925 Bryant Street, an adjacent one-story, 13,125-sf warehouse constructed in 1963 that will be used to create additional parking opportunities for tenants and patrons.
The Giftcenter and Jewelrymart buildings house nearly 300 tenants who use the facilities primarily to market their products directly to retailers and interior designers. The Jewelrymart portion of the development is 99% leased; the Giftcenter portion 69% leased.
“The Giftcenter has experienced a significant drop in daily traffic count from prior years and a stubborn vacancy rate primarily because of facility decline and the lack of a strong marketing effort,”says SKB president Todd Gooding.
“By taking care of deferred maintenance items, completing significant structural and cosmetic upgrades and implementing an aggressive marketing plan, we believe the Giftcenter can be reinvigorated within a couple of years.”
In addition to the showroom rent that the buildings generate, supplemental income is generated from special events hosted in 888 Brannan Street's signature five-story atrium known as “the Pavilion” which will be completely renovated; a billboard facing north-bound traffic on US-101; two roof-top cell phone towers.
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
