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7/10/15
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In a Marin County investment buy, Ellis Partners LLC purchased Woodside Office Center in downtown Novato. The 87k sf property sold for $16.25 mil, or about $187/sf.
Located at 7250 Redwood Blvd, at the intersection of Redwood and De Long Ave, Woodside Office Center is situated just off Hwy 101. The property offers easy access from multiple directions, covered parking, extraordinary curb appeal, high quality finishes. In addition, the property is located close to the Novato Fair shopping center, across the street, and downtown Novato, nearby.
Built in 2003, it has attracted a diverse and high quality roster of tenants including Hennessy Advisors, a Novato-based publicly traded investment manager, the law firm of Grancell, Stander, Reubens, Thomas and Kinsey, APC, and Regus, the world’s largest supplier of flexible office spaces, set to open in August.
The seller was represented by Mike Seifer of JLL and Whitney Strotz of DTZ. Ellis Partners has retained Strotz and Steven Leonard of DTZ to market the available suites at Woodside. DTZ Property Management’s Warren Mead and Don Denne will manage the day-to-day operations of the property. The acquisition represents the fifth purchase by commercial developer/investor Ellis Partners with capital partner Artemis Real Estate Partners.
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