Bridgeton is trimming its commercial real estate holdings in San Francisco.
The New York-based firm sold a South of Market retail and restaurant property at 300 Third Street to Southern California-based investor DPI Retail for nearly $19.3 million, the San Francisco Business Times reported. The 36,000-square-foot mixed-use property, known as Museum Parc, is located below luxury residences and is fully leased to a gym and various office and restaurant tenants.
Bridgeton acquired the property in 2015 for $16.5 million, according to property records cited by the Business Times. The Museum Parc commercial space, unlike many in the city in recent years, remained fully leased throughout the pandemic, Bridgeton president Akash Sharma said in a statement.
The street-level retail space, situated below 234 luxury condominium units, is anchored by a Crunch Fitness location, the El Dorado Latin Fusion restaurant and office users, Aquabyte and TowerWAV. The investment comes as the city’s commercial market is “regaining strong positive momentum,” DPI Retail Vice President Jonathan Khoury said of the transaction, per the Business Times. The Museum Parc space was attractive to the investor because of its location, tenant roster, stable cash flow and long-term outlook as San Francisco’s post-pandemic comeback continues.
The numbers don’t lie when it comes to the San Francisco office market today. The city saw 9.3 million square feet of leasing activity last year, more than double the amount in 2023, per JLL data cited by the Business Times. In the first quarter of 2026, office vacancy ticked down to 30.4 percent from 32.8 percent in the previous quarter, according to CBRE.
DPI Retail is based in El Segundo and owns various shopping centers across the Western United States in California, Nevada, Utah and New Mexico. Bridgeton hasn’t abandoned San Francisco entirely with its latest disposition, as it still owns 747 Front Street, 260 Townsend Street and 410 Townsend Street. — Chris Malone Méndez
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