JV ACQUIRES SIX-BUILDING FLEX/INDUSTRIAL PROPERTY
SAN FRANCISCO — San Francisco-based Shorenstein Properties LLC has partnered with San Francisco-based SKS Investments to purchase Oyster Point Business Park and Oyster Cove Marina, a six-building flex/industrial property with adjacent 235-berth marina in South San Francisco. Currently 88 percent leased, the business park consists of six single-story buildings totaling 404,215 square feet. The 34.34-acre property is located on Oyster Point Boulevard and is 1 mile east of Highway 101 and 1.5 miles north of San Francisco International Airport. Shorenstein Properties made the acquisition on behalf of its ninth investment fund, Shorenstein Realty Investors Nine LP, a $2.062 billion private commingled fund formed in spring 2007. NAI BT Commercial Investment Services Group represented the seller, Shelton Corp., in the transaction. Terms of the transaction were not disclosed.