| Scannell Properties Pays $20 Mil for Petaluma Development Site
Indianapolis-based Scannell Properties purchased 40 acres of undeveloped land in Petaluma for $20.1 mil. The site, located at 500 Hopper St, was sold by Bay West Development, who had originally purchased the vacant industrial...
| Alameda Multifamily Rental Property Sells for $307k/Unit
Buena Vista Apartments, a 52-unit multifamily asset in Alameda, traded hands in a recent transaction valued at $15.95 mil, or $307k/unit. The property is situated on 1.58 acres at 4330-4450 Buena Vista Ave, just west of I-880...
| San Leandro Res Sale Comes In at Record $346k /Unit
Island Apartments, a 26-unit residential property in San Leandro, was acquired by Niceco LLC in a $9 mil transaction. The property is located at 16000 Mateo St, just west of I-580.
The property, which received multiple offer...
| Swift Real Estate Partners Acquires 253k sf Oakland Office Tower with $93 Mil Loan
Swift Real Estate Partners recently acquired 1333 Broadway, a 253.4k sf, Class A office building in Oakland. The purchase was made with a $93 mil, floating-rate acquisition loan arranged by HFF and funded through an affiliate...
| Private Investor Trades Four Multifamily Properties into One 77-Unit Asset in Redwood City
A private investor acquired a 77-unit apartment community in Redwood City for $40 mil ($520k/unit) as part of a 1031 exchange. The property, 926 Woodside, is located in the coveted Palm Park neighborhood with direct access to...
| Class A Office Asset in San Mateo Refinanced with $21 Mil Loan
An entity owned and controlled by Windy Hill Property Ventures has obtained $21 mil in refi money on 2 East Third Avenue, a 100% leased, 25k sf Class A office building located in the central business district of downtown San ...
| San Francisco Multifamily Property Trades in Transaction Worth over $300 Mil
Northwestern Mutual has purchased Jasper, a 319-unit, luxury high-rise apartment building in San Francisco, in a deal pros estimate came in around $306 mil ($959k/unit). The asset was acquired from Crescent Heights, free and ...
| Draftsmen & Craftsmen
In a construction milestone at a new residential rental development in Danville, framing has begun on the Alexan Downtown Danville, a 144-unit luxury community within walking distance of Danville’s Historic Downtown District....
| Seefried Industrial Properties and Clarion Partners Buy 10.7 Acres in San Jose
Seefried Industrial Properties and Clarion Partners have acquired a 10.7-acre site in San Jose, on which plan to build a 223.8k sf, Class A logistics/advanced manufacturing facility. The project is scheduled for completion fi...
| Calvera Partners Closes $16 Mil Res Buy in Alameda
Calvera Partners has acquired a 52-unit apartment building in Alameda for $15.95 mil ($307k/unit), in a deal that marks the final acquisition for the firm’s current discretionary investment fund. The purchase is part of Calve...
| Hotel Project in Downtown Morgan Hill Breaks Ground
Granada Hotel & Spa, a new four-story, contemporary-style boutique hotel with 60 guest rooms situated in the southern Silicon Valley city of Morgan Hill, has broken ground. Located at 17490 Monterey Rd, Granada Hotel & Spa wi...
| New Seniors Housing Project in Fremont Opens 100% Leased
Pauline Weaver Senior Apartments, a new 90-unit multifamily rental community for seniors in the Bay Area city of Fremont, has opened to the public. The project, located at 47003 Mission Falls Court in the city’s Warm Springs ...
| San Mateo Apartment Property Sells for $670k/Unit
Pacific Gardens, a 38-unit townhouse-style apartment community in the Bay Area city of San Mateo, sold for $25.5 mil ($671k/unit). Pacific Gardens is located at 25 McAker Ct, just off El Camino Real at the 92 Fwy.
| BUILD Searching for Investment Partners for Development of San Francisco’s India Basin
BUILD, a San Francisco residential development company, is currently looking to lock up investment partners for the construction phase of its India Basin development, located within a rare opportunity zone in San Francisco. T...
| Waterfront Res Community Started in Bay Area City of Hercules
Ledcor Development LP broke ground on The Grand, a 232-unit waterfront residential development in Hercules, a Bay Area city in western Contra Costa County, about 10 miles north of Berkeley. Set to open spring 2021, The Grand...
| NoCal Outpatient Clinic Sells for $700/sf
A NoCal firm involved in a 1031 exchange paid $7 mil for a 9.9k sf ($707/sf), outpatient clinic in Castro Valley, CA. The property was sold by Meridian in a deal that closed at a cap rate of 5.0%.
The outpatient clinic is l...
| Silicon Valley Office Project Lands $314 Mil in Acquisition and Construction Money
Harvest Properties and Invesco Real Estate are closer to starting work on Catalyst, a fully-entitled, four-property office portfolio that will comprise 587.9k sf in the Silicon Valley city of Sunnyvale, after securing $313.8 ...
| Nazareth Enterprises Saves San Mateo Ice Rink with $11.5 Mil Purchase of 55k sf Building
Nazareth Enterprises Inc has acquired the ice rink facilities and 55k sf retail building at the BridgePointe Shopping Center in San Mateo, in an $11.5 mil off-market transaction. The building is located at 2200-2202 BridgePoi...
| Local Developer Pays $15.5 Mil for 2.75-Acre Parcel in Fremont
A local developer paid $15.5 mil for a 2.75-acre land parcel in Fremont. The land parcel is located at 3515 Walnut Ave. The property is in close proximity to transportation hubs and major highways, including Interstates 880 a...
| East Bay / Oakland Office Market Expected to Pick Up After Slow 1st Quarter
This report was provided by real estate services firm Cushman & Wakefield
The East Bay / Oakland office market may have got off to a slow start in 2019, with virtually no growth and moderate leasing activity, but significant...