The Essex Shopping Spree Continues
The Palo Alto-based firm just scooped up Station Park Green in San Mateo for $67M, according to the Silicon Valley Business Journal. The plan is to pull building permits by summer for the entitled 599-unit, mixed-use project, EVP of development John Eudy told the paper. Located at 1700 S Delaware, the project will replace a shuttered Kmart site. Dennis Danielian and Jesse Goldstein of TCI Properties repped the buyer.
Essex has been on a California shopping spree as of late, just purchasing a $43.6M development site in the Transbay district, in addition to shelling out $200M for 8th+Hope (above), a 22-story, 290-unit luxury glass high-rise in downtown LA. Colliers EVP Kitty Wallace told us the apartment tower is one of the nicest in all of SoCal, which led her to believe it would be scooped up by offshore money. [SVBJ]