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March 28, 2024
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NORTHERN CALIFORNIA NEWS
Archive
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• October 11, 2002 - Coasting to a Record
10/11/02
In the largest East Bay warehouse lease transaction so far this year, Coaster Company of America has just taken down a 269k sf state-of-the-art facility at 6753 Mowry Ave in Newark. The deal has a total value of more than $6 ...
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• Not-So-Commons $17 Mil Office Sale in Sacramento
10/10/02
DRA Advisors, a NY-based pension fund advisory firm, paid $17 mil for University Park, a garden-style, suburban office park at 100 Howe Ave in Sacramento. Located in the upscale Campus Commons section of the city, University ...
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• Colliers International Trio Join Up with Cushman & Wakefield
10/09/02
Cushman & Wakefield has lured away the three founders of Colliers International's Investment Services Group. Former Colliers Senior VPs George Eckard and Pat Flanagan and VP Chris Wight have left the Colliers office in San Fr...
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• October 8, 2002 - Peninsula Project Rejected
10/08/02
In a surprise decision, the East Palo Alto City Council rejected the proposal to build the $60 mil University Palms office-retail complex along University Avenue near Highway 101. Palo Alto land-use attorney Owen Byrd and arc...
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• Livermore Bullish on Business
10/07/02
The Livermore City Council recently approved a package of programs to attract new businesses and hold on to existing ones. Among the programs is establishment of business attraction and business retention/expansion teams and ...
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• October 3, 2002 - Is San Francisco Closing Its Golden Glut?
10/03/02
It's time for quarterly reports, and as expected the news for San Francisco remains grim, though there are positive signs. Average asking rent in the city fell to $26.29/sf/yr in the 3rd quarter, according to Julien J. Studle...
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• Church Bottles Up Former 7-Up Facility in Santa Clara
10/01/02
A 135k sf bottling/distribution center, formerly used by 7-Up, was purchased by The River of Life Christian Church. Located in an industrial-zoned neighborhood, the property is at 1177 Laurelwood Rd, adjacent to the 101 Fwy, ...
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• September 30, 2002 - Alcohol Reduction Company Expands in Santa Rosa
9/30/02
ConeTech, which reduces wine's alcohol content to meet federal standards, plans to consolidate its headquarters and North Coast processing to 1450 Airport Blvd, near the Charles Schulz-Sonoma County Airport in Santa Rosa. The...
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• September 30, 2002 - Super Growth of Bay Area Sublease Market
9/30/02
Two more Bay Area companies are putting space back on the market. As a consequence of its merger with Compaq Corp, Palo Alto-based Hewlett-Packard will sublease approximately 2 msf in Northern California, while San Mateo-base...
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• September 27, 2002 - More Room for Crates and Barrels
9/27/02
Not all companies are downsizing. Doubling its Northern California warehouse capacity, Crate & Barrel signed a 5-year lease with ProLogis for 261k sf at the 400k sf Patterson Pass Business Park in Tracy. The Naperville, IL-ba...
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• Matteson Completes $29 Mil Palo Alto Office Buy
9/27/02
NoCal-based Matteson Real Estate Equities recently completed a major office property acquisition in Palo Alto, paying $29.2 mil ($385/sf) for a pair of buildings, in a 1031 exchange transaction. The buildings are located at 1...
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• Equity Opportunity in San Mateo
9/25/02
A sizable two-building office property in San Mateo has come on the market, as Equity Office Properties and William Wilson are shopping a recently completed 197k sf complex. According to Real Estate Alert, the properties, kno...
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• 
9/24/02
Yet another Bay Area developer has scrapped plans for office construction in favor of retail. Larkspur-based Radius Development Group has decided to build 40k -50k sf of retail on a four-acre site originally proposed for a 70...
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• September 23, 2002 - Insignia/ESG Smokin' after Big Contract from Fireman's Fund
9/23/02
The San Francisco office of Insignia/ESG has been awarded a major advisory and consulting services contract, as Fireman's Fund Insurance Company (FFIC) has chosen Insignia to handle their real estate portfolio, which encompas...
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• September 20, 2002 - Shorenstein Scores Two More Tenants for Oakland City Center
9/20/02
Shorenstein Co has landed two more tenants for Oakland City Center, pulling both from the city's formerly more prestigious Lake Merritt office district. Lawyers Asset Management Inc signed a 10-year lease for 3.6k sf of on th...
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• September 19, 2002 - Molding a New Image
9/19/02
Stoesser Industries, which makes high-tech molds and production parts, has purchased a five-year-old 62k sf facility at 3250 Brickway Blvd in Santa Rosa and plans to move its headquarters and precision plastic injection moldi...
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• September 18, 2002 - AMB Puts 3 msf of Bay Area Industrial Property on the Block
9/18/02
San Francisco-based AMB Property Corp has put 14 Bay Area industrial parks on the market. In a single-asset deal, it is asking $62.8 mil for the 4-building, 307.6k sf Ardenwood Corporate Park in Fremont. Separately, it is att...
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• September 17, 2002 - Broadway Revival
9/17/02
The sale of 1333 Broadway, a 10-story, 283k sf office building in downtown Oakland, has fallen through. Owner ATC Partners selected an offer from Australian real estate investment giant Lend Lease in June, but the prospective...
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• Bedford Completes $86M of Acquisitions
9/16/02
Bedford Property Investors Inc is taking advantage of the slow market to build its portfolio. The Lafayette-based REIT recently completed two major Bay Area purchases and a third in Arizona. It paid $40 mil, or $184/sf, for t...
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• Tenants are LeapFrogging into Emeryville
9/13/02
With one of the highest vacancy rates in the Bay Area, Emeryville can use every lease it can get. Fortunately, market activity is increasing as dramatically lowered rents combined with quick access to I-80 and the Oakland-San...
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