California College of the Arts, San Francisco
The Challenge
The California College of The Arts needed a vehicle for an aggressive Capital Campaign to expand its San Francisco Campus.
The Solution
David Polatnick was retained to acquire an urban campus. The current CCA landlord was not supportive of the school’s effort to extend this existing lease, so Polatnick worked closely with the President of CCA, Lorne Buchman, as well as with other members of the board, to identify assets that were a better fit with the long-term goals of the college.
The Result
Polatnick extended CCA’s existing lease to take advantage of the decreasing values in real estate in the early 1990s. After an exhaustive search, CCA purchased 1111 Eighth Street, a former Greyhound bus repair facility of approximately 650,000 square feet. In 2003, Polatnick represented CCA in taking a long-term lease of an additional 20,000square feet for its graduate studies program.