San Diego-based Zephyr Partners closed yesterday on its $21M off-market acquisition of a 60k SF site on Broadway between 7th and 8th avenues, one of the last remaining full blocks of available property Downtown. Zephyr plans to knock down rundown retail, office space, and parking on the site (for anyone who played with Legos as a kid, you know that the demolition is the best part) and put up a mixed-use property. Not just any mixed-use property, Zephyr co-CEO Brad Termini tells us, but one appealing to a mix of people: residents, non-resident locals, and tourists, as something worth walking to between the Gaslamp Quarter and the Financial District. The parcel is zoned for 750K SF; Zephyr’s planning two 40-story towers with residential, hotel, and retail space.
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