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$12M Portfolio Sale in San Francisco

1990 Evans Ave., 1875 Marin St. Sell to McMahon Development Group
By Jorge Jimenez
March 12, 2002 | 4:35 P.M.

1990 Evans Ave. and 1875 Marin Ave. in San Francisco have sold together for $12 million. The industrial properties were sold to McMahon Development Group, which plans on developing the site into a 120,000-square-foot "city station" for Federal Express, though a scheduled date has not been set. 1990 Evans is a 43,000-square-foot industrial building on 2.7 acres; 1875 Marin totals 57,000 square feet of industrial space on a 1.5-acre lot. Both properties, which are located adjacent to each other and have street entrances at Evans Ave. and Marin Ave., were delivered vacant at the close of the 12-month escrow. Terms of the FedEx deal were not disclosed, but according to John Lewerenz of Cushman & Wakefield of California, "they signed for a long time." Lewerenz represented the buyer, McMahon Development Group. James Swarthout of Colliers International represented the seller, Eileen G. Callaghan Trust.

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News | $12M Portfolio Sale in San Francisco