SAN FRANCISCO: An Investment Hotbed
Will April showers bring even more May transactions in San Francisco? The city has seen quite a few buys this month, including Mid-Market's long-vacant Grant Building (above) at the corner of 7th and Market. Sources tell us a buyer (whose name we've yet to confirm) has been picked and the plan is to put in a micro boutique hotel concept with smaller, efficient rooms and a lower price point. Tons of micro hotels rooms already exist in New York, like in Greenwich Village's The Jane. (Remember when trashing a hotel room actually required you to walk from one end of the room to the other?) And last week, news broke that Bellevue-based Pineapple Hospitality made its first move in S.F., scooping up the century-old Hotel California at 580 Geary (cue The Eagles).