The 100,000 square-foot site on Third and Townsend is up for sale and the price per square mile will set the new record in what they are thinking will be mixed-use space.
Brokers say a nearby property at 500 Townsend St., also without permits, has received an offer at $170 per square foot; a similar price would value 701 Third St. at $17 million and real estate brokers contacted by the Business Times expect it will go for more than that. MORE HERE.
And, here’s what they are thinking it will be:
The site is suitable for mixed-use residential or office development and close to buses, light rail and Caltrain, including routes to the East Bay, Siegel said. The flexible zoning would also be suitable for a hotel, giving a buyer flexibility to tap the hottest market sectors in the neighborhood, he said. MORE HERE.
Have you ever wondered what the McDonald’s restaurants have become? Read Mission Local’s account of the McDonad’s plaza on 24th and Mission Street to learn how people have re-shaped the restaurant to their social needs: A Super Sized Day.