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935 Mason St. - Development Opportunity
Summary
Square Footage:
6,603 RSF
No. of Floors:
1
Is Divisible:
Yes
Rent Rate:
A minimum monthly base rent NNN, with periodic base rent increases and a possible inclusion of percentage rent and/or participation rent
Terms:
A long term lease may be available
Expenses:
In addition to base rent, Tenant is responsible for all operating expenses including utilities, insurance, maintenance and the Service District Charge (SDC). SDC is a reimbursement to the Trust for a portion of municipal services such as police, fire, road and other infrastructure maintenance. Tenants are charged a pro rata portion of such costs based on the relationship of the space leased to the total Presidio square footage of non-residential buildings. Currently, SDC is estimated at $4.25 per rentable square foot, per year.
Commission:
The Presidio Trust will pay commissions to procuring brokers who are involved in the transaction. Brokerage commission shall be the greater of: (a) $1.00 per rentable sq. ft. per year up to 10 years; or (b) 5% / 4% / 4% / 3% / 2% of rental income (not including service district charge pass-throughs) for first five years, and 1.5% of rental income each year for the next five years, and 1% of rental income each year for years 11 through 15. Commissions are earned one-half upon lease execution and one-half upon tenant occupancy. Commissions are payable within 30 days after they are earned. Procuring cause will include, but not be limited to the following: 1. Broker must accompany the clients on the initial visit to the Presidio; 2. Broker must provide written confirmation of an agreement between broker and tenant; 3. Broker must have a continuing involvement in the transaction.
Proposed Uses:
Cultural; Educational; Food Service; Health and Fitness; Recreational
Property
Description
The Presidio Trust is offering the opportunity to lease up to 10 (9 historic and 1 non-historic) buildings in a national park setting along the spectacular San Francisco shoreline. Crissy Field, the "front yard" of the Presidio of San Francisco (Presidio), is one of the most prominent public spaces on the West Coast. The area enjoys striking views of the Golden Gate and San Francisco Bay, a rich cultural history and sense of place, and thriving natural ecosystems. Crissy Field is one of the most popular visitor destinations in the San Francisco Bay Area. The Trust will entertain proposals for any building alone or in combination with other buildings.
Tenant
Selection Criteria
- Responsiveness to the Trust's stated project objectives
- Consistency with the planning principles and preferred uses articulated in PTMP, contribution to the visitor experience, and responsiveness to the general objectives of the General Management Plan Amendment
- Compatibility with the draft "Building and Site Rehabilitation Guidelines" (Appendix B)
- Qualifications and experience of respondents
- Financial capability and business terms
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Location
Map
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For more information call
415 561-5335
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