Essex Property Trust, Inc., one of the foremost property developers in the West Coast has expanded in its property interests in San Francisco, California with the recent purchase of the Fox Plaza. This sprawling 444 unit property consists of a twenty nine storey tower and apartments under the Fox Plaza name located from the fourteenth to the twenty ninth floor.
The first to the twelfth floor is for commercial use and this was expanded to include an adjacent two storey property with 37,800 square feet available for retail and/or office tenancy. The property also has a two storey parking complex that can house 405 cars at any given time.
The company intends to pump in US$27 million in the next few years to improve the interior and exterior of the property. As for the two storey commercial building, the company will evaluate its options over this part of the overall property.
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