| Ohana Real Estate Acquires the Claremont Hotel & Spa in $163 Mil Transaction
Redwood city-based Ohana Real Estate acquired the Claremont Hotel & Spa, a 276-room hotel property in Claremont, in a deal worth $163 mil ($591k/room). The asset is managed by Fairmont Hotels.
The property was sold by Toront...
| Bay Area Life Science Development Pipeline Normalizes
This report provided by real estate services firm JLL
Life sciences under development inventory in the Bay Area normalizes after a period of hypergrowth
• The development inventory of life science (laboratory with office) ...
| Four Multifamily Properties Trade in Deals Totaling Over $7 Mil
Here’s a quick look at four multifamily transactions totaling $7.215 mil in San Jose that closed during March 2023. The properties have a combined 22 units. The closed transactions consist of:
• 2785 Almaden Road – a five-u...
| Premier Workspaces Opens New Location in Concord
Coworking operator Premier Workspaces has opened a new location at Sutter Square, a nine-story, 180k sf office building in the Bay Area city of Concord. Located at 1800 Sutter Square, the new center will boost Premier’s North...
| San Jose Apartment Property Goes for $252k/Unit
Ranchero Palms, a 61-unit multifamily community in San Jose, traded hands for $15.38 mil, or $252k/unit. The property is located at 1175 Ranchero Way, west of San Tomas Expwy and south of I-280.
Ranchero Palms has 45 one-bed...
| Escapology Escape Room Commits to Trio of CA Locations
Escapology Escape Room inked deal for three retail new locations throughout California as part of the brand’s nationwide expansion. Escapology, a fast-growing growing escape room franchise, offers dynamic 60-minute immersive ...
| Prologis Picks Up Industrial Facility in the East Bay
Prologis acquired a 21.4k sf, cross-dock warehouse on 5.31 acres in Hayward from an undisclosed seller to Prologis. Located at 651 Sandoval Way, the property has a remodeled office building, truck service maintenance building...
| Fully Leased R&D Facility in Sunnyvale Hits the Market
GI Partners has put on the market a 75.4k sf, mission-critical, fully leased R&D facility in Sunnyvale. The property, most recently renovated in 2015, is located at 825 Stewart Dr.
The building is 100% leased to an American...
| Office Users Continue to Struggle with Higher Costs, Tight Labor and Supply Chains when Fitting Out Space
This report provided by real estate services firm Cushman & Wakefield
Cushman & Wakefield released its 2023 Fit Out Cost Guide for office markets, finding that supply chain constraints, inflationary pressures and increased l...
| Recent Leases Bring San Mateo Power Center to Fully Leased
Bridgepointe Shopping Center, a 572k sf retail power center in San Mateo, is now fully leased, thanks to 131.2k sf of leases signed over the past three years. The center, located at 2280 Bridgepointe Pkwy, was redeveloped fro...
| Tishman Speyer and San Francisco Giants Begin Leasing Residential Units at First Project 28-Acre Mission Rock Campus
The Canyon, a new 283-unit res tower development in San Francisco’s China Basin area, has been completed and is now leasing. The project was built by the Mission Rock development team, a partnership between the San Francisco ...
| Trammell Crow Company and JV partner Clarion Partners Receive Approvals for Second Phase of Bay Area Industrial Development
Trammell Crow Company (TCC) and JV partner Clarion Partners LLC. have achieved the required discretionary approvals for the second phase of development at the Fairfield Industrial Center in the Bay Area city of Fairfield. The...
| Commercial Real Estate Financing Briefs
BELLWETHER ENTERPRISE REAL ESTATE CAPITAL -- Tom Turnage and Joe Galosic, Jr with Bellwether Enterprise originated a $58 mil loan to finance a luxury apartment community in Santa Barbara County. The property is a best-in-clas...
| Sterling Organization Purchases Two Bay Area Retail Assets for $40 Mil
Sterling Organization recently acquired two Bay Area retail properties in a deal valued at $40.45 mil. The acquisition consisted of Franciscan Center, a 106.8k sf retail center, and Mohave Center, a 10.2k sf strip center, bot...
| Silergy Technology Leases 28k sf of Silicon Valley Corp HQ Space
Silergy Technology has leased 27.7k sf of Class A office/R&D space for its new larger corporate headquarters in Silicon Valley. Silergy, a semiconductor company, will occupy the entire top floor of the six-story building loca...
| Terreno Realty Corporation Closes on 600k sf Industrial Buy in the Bay Area
Terreno Realty Corporation has purchased Morton Commerce Center, a 602.7k sf, core industrial project in the Bay Area city of Newark. Recently constructed in 2020 and situated on over 31 acres, the Class A project comprises f...
| Shartsis Friese LLP Takes 26k sf of Office Space in San Francisco’s South Financial District
Shartsis Friese LLP, an award-winning multi-disciplinary San Francisco-based law firm that was established in 1975, has inked a lease for 26k sf 425 Market Street in San Francisco’s South Financial District. Shartsis Friese L...
| Diversyfund Buys 61-Unit Multifamily Asset in Monterey County
In a NoCal res buy, Diversyfund purchased The Independent, a Class A, 61-unit multi-housing asset located in Sand City, within Monterey County. The deal was financed with an acquisition loan for $13.1 mil.
Situated at 600 Or...
| Volwood Management Buys Bay Area Office Building in $12.8 Mil Deal
Volwood Management acquired 25 Orinda Way, a 28.9k sf, boutique, Class A office building in the East Bay city of Orinda, for $12.8 mil, or $443/sf.
Built in 1974 and renovated in 2018, the three-story 25 Orinda Way is curr...
| Bridge Industrial Has Nearly 4 msf of New Industrial Development Scheduled for Delivery in 2023
Bridge Industrial continues to be one of the most active industrial developers in California. The firm currently boasts a development pipeline in Southern California and the Bay Area of nearly 4 msf of state-of-the-art indust...