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9/26/11
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Perfect World Entertainment leased a 100k sf office building in Redwood City, situated in the San Francisco Bay Area’s Peninsula region. The modern, Class A property is four stories tall features a stylish blue-glass finish. It’s located at 101 Redwood Shores Pkwy,
This is a major expansion for the gaming company, currently housed in 33k sf of space at Foster City’s Parkside Towers. Perfect World Entertainment primarily publishes massively multiplayer online role-playing games (MMORPGs) and provides online services in North America.
Kristoph Lodge and Matt Winters of Cornish & Carey Commercial Newmark Knight Frank’s Palo Alto office represented the property owner, Diamond Investment Properties, in the transaction. Dan Latini and Luke Wilson of Colliers International brokered the lease for Perfect World.
Perfect World Entertainment plans to occupy its new Redwood City property, which is strategically positioned at the gateway to Redwood Shores, in March of 2012. One of the factors influencing Perfect World Entertainment’s decision to relocate its North American headquarters was the property’s close proximity to Electronic Arts (EA). EA, a leading global interactive entertainment software company, owns its 500k sf headquarters campus in Redwood Shores, located less than a mile from Perfect World Entertainment’s new headquarters.
According to Lodge, “The mid-Peninsula is quickly becoming a hub for the gaming industry and this trend will continue to attract industry peers nearby and drive rent premiums. In fact, there is currently over 100,000 sf of additional space being negotiated with gaming companies within one mile of Perfect World Entertainment.”
Diamond Investment Properties is an owner, operator, and developer of exceptional quality real estate properties. Led by principals Steve Diamond and Andrew Diamond, Diamond Investment Properties owns and manages an extensive portfolio that includes high-identity office towers, prime location suburban office buildings and luxury multi-family properties. Other Diamond properties include the 425k sf bayfront Sierra Point Towers in Brisbane, the recently renovated Atherton Square medical complex and 1200 Lakeshore Avenue, a luxury apartment tower in Oakland.
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