SOURCE: McGuire Real Estate

February 09, 2006 13:00 ET

McGuire Real Estate Announces Appointment as Marketing Partner for Development at Former Esprit Headquarters

SAN FRANCISCO, CA -- (MARKET WIRE) -- February 9, 2006 -- Build Inc., the developer of the former Esprit de Corp. headquarters at 900 Minnesota in San Francisco, has appointed McGuire Real Estate as its marketing partner for the development. In this capacity, McGuire will serve as an outside consultant during the formative stages of development and lead sales of the 142 condominiums that are currently scheduled for construction in 2006 and completion in 2007. The project will also include a commercial component, a café, 168 inside parking spaces and significant open space. The condos will feature one- and two-bedroom units selling for $600,000 to $1 million.

McGuire has been increasing its sales of residential developments that focus on urban in-fill and the conversion of historic properties, most recently with The Landmark Union Square at 333 Grant in San Francisco. This development was the first of several conversions of office buildings to residences that are taking place in the city's downtown area.

"We are very pleased to be involved with Build Inc. in such a unique project that reflects a very strong neighborhood approach," says Rob Levy, McGuire partner™ and manager of McGuire's development sales group.

Located in the Central Waterfront area at the edge of Potrero Hill (often referred to as The Dogpatch), the development has received positive reviews from nearby residents and representative neighborhood and environmental groups such as the Dogpatch Neighborhood Association. Early on, Build Inc.'s partners obtained input from these groups about the development plans and made appropriate changes to address concerns.

"As a result of this interaction, we have produced a better project that enhances the community and maintains open space in a neighborhood where there is such a shortage," says Lou Vasquez, partner of Build Inc. "We are very committed to participating as a good and responsive neighbor."

About McGuire Real Estate

Since 1919, McGuire Real Estate (www.mcguire.com) has been an integral part of the real estate scene in the San Francisco Bay Area. A mid-sized, regional boutique, McGuire specializes in luxury real estate but applies the highest standards of service to properties in every price range, and to every client. This "customer first" philosophy and local focus have proved a winning formula for the firm to become a highly respected $1.3 billion operation.

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