Proposals went out last week to both of these properties. We have heard back from Guerrero and can start negotiating terms. Haven’t heard back from Folsom yet.
I would like to set another tour of both locations (same day, they are a few blocks away from each other and NoiseBridge). Hopefully we can get a good group of people in on this tour and get a good idea of the space and what kind of remodeling would need to be done. Tour is a tentative 5/9/19 at 12:00.
Next step will be sending along some financials and bank statements to verify income. With no objections, I’ll send these out later today.
- 668 Guerrero will be ~$10k (owner asked for $20 or something stupid and we have to knock it down to $10)
- 7,000 sqft
- Lots of rooms
- 2021 Folsom will be ~$8k and we could maybe knock off a couple months for tenant improvements.
- 4,500 sqft
- Big open warehouse