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• SWENSON Completes Santa Cruz Mixed-User
6/29/20
SWENSON has completed construction of Nanda on Pacific, a 119.7k sf mixed-use community in Santa Cruz. Located at 1547 Pacific Ave, Nanda consists of 79 spacious studio, one- and two-bedroom apartment units (421 sf to 1.2k sf...
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• KT Urban Buys 68 Acres in Gilroy
6/29/20
In a NoCal land buy, KT Urban paid $7.5 mil for 68.6 acres of agricultural land owned by Uesugi Farms near Gilroy. The property was sold by Uesugi Farms.
The property is located at 1020 State Route 25, east of Hwy 101 just o...
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• Overton Moore to Install 275 Charger Stations at Spec Bay Area Development
6/24/20
Overton Moore Properties (OMP) has commenced work on Phase II at Pacific Commons South (PCS) has commenced Phase II in Fremont. As part of the development, Overton Moore is undertaking one of the largest individual installati...
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• Bay Area Res Portfolio Sold in $24.7 Mil Transaction
6/23/20
A 59-unit multifamily portfolio comprised of three adjacent buildings in Santa Clara was sold in a recent $24.7 mil ($418.6k/unit) transaction. The portfolio, which was acquired in an off-market transaction, is situated near ...
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• Investor Exchanges into Two Buildings in San Francisco’s SOMA Neighborhood
6/19/20
A 1031 exchange investor paid $4.5 mil for two, adjacent mixed-use buildings in San Francisco’s SOMA neighborhood. The properties are located at 52-54 Gilbert St, off I-80 near the Bay Bridge and the city’s Mission Bay area.
...
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• Electric Utility Rate Optimization Tool from Gridium Saves $47,000 in Expenses at Bay Area Office Park
6/12/20
Gridium’s new electric utility rate optimization tool has cut approximately $47,000 in operating expenses at The Towers Emeryville, an 814k sf, Class A office park in Emeryville, which is part of a KBS client portfolio. Gridi...
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• Dewey Land Company and DivcoWest’s Spec Office Project in the Bay Area Lands $33.8 Mil in Financing
6/12/20
Dewey Land Company and DivcoWest are closer to starting work on 250 California, a spec, 44.6k sf office project in Burlingame, thanks to having just secured $33.8 mil in construction financing. The joint venture equity partn...
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• Nearon Enterprises Picks Up 155k sf Distribution Facility in Tracy, CA
6/11/20
In a NoCal industrial acquisition, Nearon Enterprises purchased Eastgate Business Park, a 155k sf property in Tracy, about 20 miles southwest of Stockton. The price was not disclosed.
Located at 1447 Mariani Ct, the property...
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• Bay Area Multifamily Property Refinanced with $33 Mil in Fannie Mae Money
6/11/20
Sausalito Investments has obtained a $33 mil refi loan on Sausalito Towers, a 90-unit multifamily property it owns in the northern Bay Area city of Sausalito. The Fannie Mae Delegated Underwriting and Servicing (DUS®) loan w...
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• San Jose BioCube Takes Over Remainder of BioTech Incubator Building
6/10/20
San Jose BioCube has taken occupancy of the 32k sf second floor of its current headquarters location, giving them the entire 68.5k sf building at 5941 Optical Ct, south of Silver Creek Valley Rd on the east side of Hwy 101. T...
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• PG&E Inks Lease / Purchase Agreement for Oakland Building
6/10/20
PG&E will be relocating its headquarters to 300 Lakeside, a 910k sf, 28-story office tower building in Oakland, from their current downtown San Francisco headquarters location. The utility agreed to a long-term lease with pur...
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• Hines and MetLife Investment Management Start Work on Res Project in Concord
6/09/20
Hines and MetLife Investment Management have begun construction of The Grant, a 228-unit mixed-use complex in the Bay Area city of Concord. The upscale project, spanning two adjacent blocks in the city’s downtown, is convenie...
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• Westcore Spends $9.2 Mil on San Jose Warehouse Property
6/09/20
Westcore acquired a 40k sf industrial warehouse in San Jose for $9.2 mil ($230/sf). The property is located at 660 North King Rd, adjacent to a similar 87k sf industrial warehouse Westcore acquired earlier this year at 1800 D...
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• NoCal Investor Pays Nearly $1,200/sf for Bay Area Retail Center
6/08/20
Shops at El Camino Real, an 8k sf retail center in the Bay Area city of Belmont, sold for $9.55 mil ($1,194/sf).The property is fully occupied by six tenants including Peet’s Coffee & Tea, Detox Kitchen & Juice Bar, Menchie’s...
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• Prometheus Real Estate Acquires Silicon Valley Res Asset
6/04/20
Prometheus Real Estate has closed on a sizable Silicon Valley multifamily acquisition, paying about $70 mil for Gardens of Fontainbleu, a 125-unit ($560k/unit) complex in Cupertino. The property is located at located at 10200...
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• Forge Development Partners to Transform Underutilized San Francisco Property into Workforce Housing
6/02/20
Forge Development Partners (Forge) has formed a venture with Fifth Church of Christ, Scientist to transform the underutilized Church property at 450 O’Farrell St in San Francisco into a 310-unit, high-tech rental home communi...
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• Local Investor Spends $26.8 Mil on Bay Area Multifamily Asset
5/29/20
The Lakes, a 102-unit value-add multifamily community in the Bay Area city of Concord, was acquired by an Atherton-based family investment group in a $26.8 mil transaction, which works out to around $263k/unit.
Originally c...
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• Decron Properties Buys 188-Unit Bay Area Res Property for $71.5 Mil
5/26/20
Decron Properties has acquired Rancho Luna Sol, a 188-unit multifamily community in Fremont, CA for $71.5 mil, or $380.3k/unit. With its acquisition of Rancho Luna Sol, Decron increased its regional portfolio to 1,054 units o...
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• Westcore Closes $40 Mil Oakland Buy
5/25/20
Westcore acquired a 155k sf, Class A industrial warehouse in Oakland for $40.5 mil ($261/sf). The property is located at 8380 Pardee Dr, between Doolittle Dr and I-880.
Constructed in 2012, the distribution facility is full...
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• DivcoWest Refis San Francisco Office Building with $36 Mil Loan
5/20/20
DivcoWest has obtained a $36 mil refi loan on 180 Townsend, a four-story, 40.9k sf office building in San Francisco. The asset is currently undergoing renovations to accentuate existing features such as the brick facades, win...
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