Owner User Case Study
2150 Folsom Street, San Francisco
Representing the owner/user, helping expand a successful picture framing business, Art Mission Ink, LLC, by moving from a lease situation to ownership of a local commercial property.
Identifying a 20,000 to 40,000 square foot commercial building available at attractive pricing in a tight real estate market.
Extremely limited supply of available properties for sale, on or off market.
Inherent physical challenges with the property require TCP to get two extensions in due diligence period to identify solutions.
Complicated financing thanks to short-term, under-market lease to full-building tenant.
Backup in the sewer system causes major flooding inside the building toward the end of the due diligence period. A front-page article in The San Francisco Chronicle features the flood story with photos of the damaged property. Deal nearly falls out.
Touchstone Commercial Partners salvages the deal and negotiates the purchase of the 30,000 square foot property at 2150 Folsom Street for the client at a very low price per square foot. The client also attains SBA Financing. This allows Art Mission Ink to invest additional capital to grow the business.