Crest Partners, a San Jose-based company, recently made headlines with their $39.5 million acquisition of an industrial property near India Basin in San Francisco. This deal marks one of the largest transactions to take place in the city over the past two years and showcases Crest’s first venture into the San Francisco market.
The 2.3-acre site at 3550 3rd St., located just south of Islais Creek Channel, was acquired by Crest through an off-market transaction arranged by Reliance Real Estate Advisors. The team at Reliance, led by Blake Miller and Max Rattner, represented Crest in this significant purchase.
According to data from Reliance, this $39.5 million sale is now considered as one of the biggest industrial deals closed in San Francisco since November 2022 when Goodman North America bought a five-acre site for $83.2 million on Napoleon Street.
Reliance’s Miller stated that this deal demonstrates continued investor interest in San Francisco’s thriving industrial market despite large sales being put on hold for two years prior to this transaction taking place. He believes that Crest’s acquisition serves as a positive sign for renewed investor activity within the city’s industrial sector.
This news was originally reported by The Business Times and highlights how successful companies like Crest are making strategic moves towards expanding their portfolio into new markets such as San Francisco’s booming industrial scene.
