Fox Plaza

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  • Essex Property Trust Picks up Fox Plaza Residential Component, Commits to Improvement of New Asset

    The acquisition deal did not include the lower floors featuring commercial office space. However, an adjacent two-story, 37,800 square-foot commercial building was part of the agreement. The REIT’s interest in this second building is clearly linked with the fact that there is permitting in place for a 250-unit, 11-story apartment development. While Essex maintains that it has no immediate intentions of activating the entitlement, the entity has confirmed that the possibility of developing the tower will be evaluated in the future.

    San Francisco 28 February 2013 19:44