China Basin
San Francisco, CA
Property Overview
- China Basin has two Class A office buildings with 932,000 square feet as well as 120 residential apartments.
- Located at 185 Berry Street in San Francisco’s China Basin neighborhood, the project is located a short walk from Oracle Park where the MLB San Francisco Giants play.
- The 178-space parking garage is situated directly beneath the China Basin campus.
Driving Revenue Growth and Operational Efficiency
- Increased Revenue – By implementing strategic marketing and event pricing recommendations, Parking Advisors was able to help drive a 10% year-over-year increase in gross revenues, despite having similar tenant occupancy rates and San Francisco Giants attendance numbers.
- Restructured Operations – By conducting a successful operator Request for Proposal (RFP) process, applying extensive expertise in appropriate fee structures, and maintaining ongoing collaboration with both the parking operator and property management team, ownership achieved an impressive 37% YoY reduction in operating expenses while consistently delivering exceptional customer service levels.
- Enhanced Asset Value – Within just one year of engagement, Parking Advisors observed an exceptional 39% YoY improvement in net operating income, generating approximately $7 million in additional value.
