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New Nabe Alert: MiMa Rises

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When asked about 944 Market St, investment group New Urban Properties CEO Tom Owens described their newly acquired address as part of "the exciting MiMa submarket." And there you have it. A new nabe — albeit one that sounds a bit too much like a child's pet name for grandma — makes its public debut. Agents, change your listings, raise your prices, and forget about any RE deep freeze. Sayeth T.O. "You look at Market Street and you can just see capital marching up and down in both directions." So where exactly is MiMa? Well, it stands for "mid-market," but details are a bit sketchy for now, so we'll just have to wait for clarification until a restaurant opens using the name.
· New Urban scoops up Class B trio for $30M [SF Business Times]
· Commercial Cooldown in SF? [Curbed SF]