J.K. Dineen
Reporter- San Francisco Business Times
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In the world of Peninsula real estate, Daly City is often overlooked. After all, the city only has one Class A office building, the 600,000 square foot Pacific Plaza, which also has 20-screen cineplex and 40,000 square feet of retail and restaurants.
But Daly City wants the Bay Area real estate community to know it is open for business, and there may be more opportunities than people realize.
On Aug. 15, the city, along with Pacific Plaza owner RREEF, is holding an open house for brokers, tenants, builders, investors, and anyone else who might want to bring their business to Daly City.
Those who attend the party will learn about the second Pacific Plaza office building that is entitled, according to Brian Millar, the city’s director of economic and community development. The city wants to also highlight development opportunities next to the Colma BART station, land that is in Daly City and owned by Samtrans.
“This is a big and visable site — a couple of acres off the freeway,” said Millar. “Samtrans has expressed interest in moving ahead with moving some sort of transit-oriented development use. They have asked the city to be part of the process.”
Currently in Daly City, a Taco Bell, a CVS Pharmacy, and an 80,000-square-foot Dick’s Sporting Goods are under construction. The office portion of Pacific Plaza has a low vacancy, but the retail has three vacancies. From a vacant Blockbuster to a 4.8 acre retail site across from the Serramonte Mall, Daly City has plenty of opportunities, according to Millar.
“We want to provide a forum for brokers and developers to meet and interact so they can exchange information,” said Millar.
J.K. Dineen covers real estate for the San Francisco Business Times.
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Article source: http://www.bizjournals.com/sanfrancisco/blog/real-estate/2012/08/daly-city-opens-door-to-office-tenants.html