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Greenland sells South San Francisco project, at a seeming profit

In a further confirmation of a retreat from a West Coast project and diminishing ambitions (as previously noted), Oyster Point Development, controlled by Greenland USA, has sold a 40-acre site in South San Francisco called Oyster Point, destined for office and science lab space.

The San Francisco Business Times reported 6/4/18 that Kilroy Realty's payment of $308 million, suggesting "a nice return on investment for the seller, which paid $171 million when it bought the fully entitled site" in August 2016.

That seems so, but surely the demolition and infrastructure work already begun has some costs, along with financing.

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