The Urban Group Real Estate announced the sale of 3140-50 16th Street, a former auto body shop, for $8.7 million, according to a press release.
Louis Cornejo, president of Urban Group, represented the seller, Jesse Henry, who grew up in the projects in Hunter’s Point and ran Superior Automotive in the Mission for 32 years. He closed it in September and began looking to either sell or lease it.
…but his business grew and he needed more space.
Walking on 16th Street one day in 1994, he passed by the two-story, 1920 Beaux Arts complex and saw the owner place a “for rent” sign on the door. He inquired about renting the space that day and ended up renting it for years before paying $2.5 million to buy the building in 2004.
Cornejo said in the release that the 20,400 square foot property received multiple offers and the selling price represented one of the Mission’s largest commercial sales of the year.
The buyer, whose name was not disclosed, plans to “repurpose the building from its current use as an auto body shop,” according to the release.
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