Tishman Speyer–Mitsui Fudosan JV makes first acquisition in San Francisco’s India Basin submarket
Tishman Speyer and Mitsui Fudosan America (MFA) have acquired the 126,000-square-foot, last-mile warehouse and distribution facility at 2225 Jerrold Avenue in San Francisco’s India Basin submarket.
The acquisition is the second for Tishman Speyer’s recently launched industrial platform and the first through the Tishman Speyer–Mitsui Fudosan America Logistics Venture. The joint venture is seeded by an initial $500 million commitment from an affiliate of MFA along with co-investment capital from Tishman Speyer.
Tishman Speyer purchased 2225 Jerrold, a 2.88-acre urban infill industrial warehouse located just three miles from downtown San Francisco, for $32.75 million in an off-market transaction.
“We see 2225 Jerrold as a rare opportunity to reposition one of San Francisco’s largest and highest-quality infill industrial properties,” said Andy Burke, Tishman Speyer managing director and head of industrial. “This is an exciting moment in our partnershi