by Jerry Feitelberg

SAN FRANCISCO–The Mission Bay properties for housing in recent developments are going like hotcakes and no wonder the rents in the city are being driven by the high tech firms purchasing of land and real estate developing condos and the future home of the Golden State Warriors is no different. You can only imagine what it’ll be like once the arena is completed.

Bio tech developer Alexandria Real Estate Equities had built out over one million square feet of property space that is already tenant occupied at a rate of 99 percent. There are 5,000 units that Alexandria is still constructing before the gap is filled in and you can best bet that these units are already spoken for. As it turned out this might be a better or equally good investment than where the Warriors originally wanted to build their new arena at Piers 30-32.

Mission Bay is showing tremendous growth and development for housing at nearly 100 percent and the Warriors who purchased Mission Bay land from Salesforce, once the new arena is developed the Warriors plan on adding retail, hotels, and condos the latter three are designed to off set the costs of building the arena.

The Warriors designs for the new arena will seat 18,000 and will be on 12 acres of property owned by the team, the Warriors have not selected an architect yet but in the selection process the team is reportedly consulting with other NBA teams about architects who designed their buildings. There is no question the Warriors want a state of the art building that is futuristic above other NBA arenas.

Sources also say the Warriors are considering installing an NHL regulation ice at the new arena. The San Jose Sharks’ CEO John Tortara this month said that the team would explore the possibility of moving out of SAP Center in downtown San Jose and build their own arena. The Sharks are considering Santa Clara and being next to the 49ers. If that deal doesn’t work out the Warriors could share the Mission Bay facility with the Sharks and make the arena NHL campatible.

The Mission Bay development still is hitting record levels for development for businesses too as just three blocks away from the arena site Kilroy Reality Co whose had a lot of success with development in the Mission Bay too said they are planning to build a $450 million R & D project for offices that include a 12 story building at 680,000 square feet.

Jerry Feitelberg is covering arena developments of the Golden State Warriors and Sacramento Kings for http://www.sportsradioservice.com