Cassidy rolls the dice in San Francisco - San Francisco Business Times:

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That was the question floating througb San Francisco real estate circles in recent days afterf the online housing site SocketSite postec a photograph of some excavation equipmenf on the dirt lot inrecent days. The answef is that Cassidy, who bought the property from in is shoring up the site so that he can startr excavationthis summer. Cassidy said his construction crews just finishes a big project in San Rafaeland “had a lull in betweej jobs.” “We’ll be ready to start excavationb in another two months if everything goes said Cassidy, who developed the Palms, a 300-unit projecrt on Fourth Street. “We have to keep everybody rolling and keep theirmortgages paid.
” The approved projecty will consist of 113 condos near Laguna St., with 13 below-market-rat e units. Cassidy said he is not readyu to say the housing marketthas bottomed, but added “there is no point in starting (construction) in good “That is the million-dollar question: Am I goingv to catch the rising tide?” said Cassidy. Clark Manuss of has been elected AIA firs t vice president and 2011 At thelocal level, Manus, a former AIA San Franciscoo president, has long stressedx the importance of engaging young particularly during a “Encouraging young architects to remain engaged though continuing educatiomn or advocacy will forge a bond that will be effective as individuals re-enter the profession,” he said.
San Francisco’s industrial marketplacs still hasa pulse. The 91,000-square-foot warehoused at 2225 Jerrold Ave. has sold for more than $10 million. The seller was , which owns Golden Brands. NAI BT Commercialo handled both sides ofthe transactions. Scoty Mason represented CenturyTruck & and Tom Christian represented the buyer, 2225 Jerrold LLC, whicyh will continue to use the propertgy for storage. Mason said the concrete buildingincludees 30,000 square feet of yard area and a multitude of loadinyg doors.
He said industrial property valueds have dropped 15 percent to 20 but that the Jerrold Avenue properttwas “the best large building existing in the “It tells you there is still a buyer for a high-qualityy property,” he said. Mill Valley-based investoer GSI Realty purchaseda 113,000-square-foot distributio n building at 21040-21056 Forbes St. in The property is fully leased to four tenant s with several years remaining ontheir leases. The price was not disclosed. “GSI Realty holds several assetds in the marketplace already and was very familiat withthis one,” said Sean Sabarese, a broker with who represente the buyer.
“They jumped at the opportunitgy to buya well-maintained building in one of the Bay Area’sx core markets.” Joe Yamin of Oakland office also represented the buyer and Greigh Lagomarsino of Colliers’ Oakland represented the seller. San Francisco-basec investor purchased a 264,687-square-foot, three-buildinbg complex in Tracy. The projecty is a Class A, multi-tenant industriak park. Lagomarsino, Michael Goldstein and Greg O’Leary, all of worked on the deal.