| 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...
| Oakland’s Historic Palace Theater Trades in $2.2 Mil Deal
The historic Palace Theater in Oakland was acquired by BayTech Charter School for use as a new location for BayTech Charter School, or the Bay Area Technology School. The property, located at 1445 23rd Ave, fetched $2.2 mil.
| Shopoff Realty Investments Venture Acquires Former Nordstrom Site in the Bay Area
Shopoff Realty Investments, in a venture with Praelium Commercial Real Estate and an affiliate of Singerman Real Estate LLC, has acquired the former Nordstrom department store property located at the Stoneridge Mall in the Ba...
| Longfellow Real Estate Partners to Develop 315k sf Life Sciences Project in the Bay Area
Longfellow Real Estate Partners has obtained a $310 mil construction loan for the development of Avia Labs at Millbrae Station, a best-in-class life sciences development totaling 315k sf at the Bart and Caltrain station in t...
| Vestar to Manage Hacienda Crossings Retail Property in Dublin
PNC Realty Investors has retained Vestar to provide management, leasing and marketing services for Hacienda Crossing, a 438.5k sf, mixed-use power center in the Bay Area city of Dublin.
Hacienda Crossings is located at 4820-...
| Stanford University Awards 1.1 msf Office Portfolio and 7 msf Ground Lease Portfolio to Cushman & Wakefield
Stanford University has awarded a 14-building, 1.1 msf office portfolio in addition to a 7 msf NNN ground lease portfolio to Cushman & Wakefield’s Northern California Asset Services team. The properties are located in one of ...
| South San Francisco Hotel Fetches $182k/Room
A Laxmi Hospitality LLC affiliate closed on a South San Francisco hotel buy, paying about $31 mil for La Quinta by Wyndham Hotel, a 170-room ($182k/unit) property. The hotel is situated on 1.3 acres at 20 Airport Blvd, on the...
| Exchange Investor Pays $550/sf Single-Tenant Building in San Jose
An 8k sf, single-tenant building NNN-leased to Citibank in San Jose traded for $4.4 mil, or $550/sf. The property, located at 3510 Leigh Ave, just north of Hillsdale Ave, is 100% leased to Citibank, which has six years of lea...
| Vivani Leases Life Science Building in the East Bay
Biopharmaceutical company Vivani has signed a 43.6k sf, full building lease at 1350 South Loop, within the Radius @ Harbor Bay campus, a nearly 700k sf life science and innovation campus located in Alameda. Terms of the deal ...