The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 28, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



HOME PAGE NEWS
Printer-friendly Version   Email an Associate
Contiguous 1 msf Block of Flex Office Space Being Marketed in the Bay Area

9/24/14

We’ve learned of a 1 msf block of contiguous block of flex office space in the Bay Area that has come on the market. The space is within 2600 Camino Ramon, a 1.8 msf, four-story building in the heart of San Ramon’s Bishop Ranch workplace campus.

The property, owned and managed by Sunset Development in partnership with MetLife, is the largest office building in the Bay Area. It features four interconnected wings amidst a 100-acre park-like setting.

Once fully occupied by AT&T, which remains a sizeable tenant, the building has undergone a significant renovation. Two wings, each with four 100k sf+ floorplates, are now offered for lease for the first time.

“With 1 msf currently available for lease in a single property, 2600 is a one-of-a-kind opportunity for both established and growing companies needing 100k sf or more of the highest quality space available,” said Alexander Mehran Jr., president and chief operating officer of Sunset Development Company. “In contrast to the soaring occupancy costs and limited options in San Francisco and Silicon Valley, our renovated building offers a tremendous value with its density ready design, new infrastructure and first class amenity package, all delivered at a cost that is a fraction of what companies are paying in the city.

“The Tri-Valley, and in particular San Ramon, has done a great job of building high quality homes and schools over the last decade,” added Mehran. “That has attracted a labor pool that is second to none and those workers want to work close to their families. In my mind that is the number one source of value we provide.”

According to Mehran, 2600 is “built to last, providing a sustainable next-generation workplace environment that supports collaboration, creativity and connection.” 2600 features high ceilings, natural light, access to views and the new Town Hall central area that “provides the perfect place to congregate and socialize during the workday, or host a 400-person event in the auditorium. At 2600, executives can have the large meeting spaces they need once or twice a year to address their teams without paying to build it just to sit vacant 99 percent of the time.”

Sunset Development and MetLife’s capital program augmented the building’s high quality construction with fully modernized infrastructure and finishes including a new central plant that utilizes cooling towers rather than the lake. According to Mehran, “2600 was built to very high standards, far higher than any developer would use today anywhere. Not all of the building’s systems stood the test of time and we are replacing those items, so in many regards tenants are getting a building that is better than new.”

Fueled by demand from technology companies and limited supply, average rent for office space in San Francisco is climbing toward levels not seen since the dot-com boom of the 1990s. According to Sunset Development, the average commercial rent in San Francisco hit $59.28 per square foot in the second quarter of 2014, a 14 percent year-over-year increase. Increasing costs, greater demand, and limited supply across San Francisco and throughout the Bay Area, underscores the opportunity of 2600. Sunset and MetLife are asking $34 per square foot at 2600, which when combined with the tax structure of San Ramon and employee cost of living reductions, creates a compelling value package.






Return to the Archive page


 


 


 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media