The Pernicano’s site in Hillcrest was a highly visible, legacy property with deep community ties and significant entitlement complexity. While widely known, the asset required careful positioning due to zoning considerations, neighborhood sensitivity, and the need for a buyer capable of navigating long-term redevelopment potential.
Jeannine Savory was engaged to quietly and strategically position the property to a select pool of qualified developers with the financial strength, experience, and vision to execute on its highest and best use. Rather than launching a broad public campaign, the strategy emphasized discretion, targeted outreach, and clear articulation of the site’s long-term value.
Jeannine leveraged her relationships and understanding of land sales, entitlement pathways, and buyer underwriting to frame the opportunity around future density potential, location-driven demand, and community, aligned redevelopment, while managing expectations on timing and process.
The property sold for $8.5 million, setting a benchmark for land value in the Hillcrest submarket at the time. The transaction required disciplined negotiation, alignment between stakeholders, and confidence in the long-term vision for the site.
The Pernicano’s sale stands as a case study in strategic land disposition, demonstrating how thoughtful positioning, market knowledge, and buyer selection can unlock value for legacy properties, particularly in urban infill locations with entitlement and community considerations.