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7/14/15
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Allianz Global Corporate & Specialty (AGCS) has inked a multi-year deal for 85k sf of space within the Redwood Business Park in Petaluma. The lease will provide AGCS with the entire second floor and a portion of the first floor within the 140.5k sf, two-story building located at 1465 N. McDowell Blvd, on the west side of Redwood Hwy.
AGCS is the Allianz Group's dedicated carrier for corporate and specialty insurance business. AGCS will fill a significant portion of the building’s current vacancy, while the remaining space in the building may also allow the opportunity for future expansion. The property provides easy access to Old Redwood Hwy (Petaluma Blvd) and U.S. Hwy 101 as well the city’s newly revitalized downtown area. An abundance of retail, health club and professional services are also conveniently within a few blocks.
We’re told that the deal is the city of Petaluma’s largest office lease in well over a decade (2003) and that it’s the largest office lease in all Sonoma County in the past three years. This transaction is also said to be the largest office lease in the entire North Bay in the past three years. Brian Foster, Steven Leonard and Trevor Buck represented the landlord, Colony Capital Inc, in the transaction.
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