Sonoma County’s Largest Landlord Signs Tenant Expansion, Adds Diverse Mix of Businesses to Sought-After Properties in the Area
PETALUMA, Calif., Apr. 24, 2013 – Basin Street Properties, a prominent Northern California and Northern Nevada real estate investor and developer of commercial and mixed-use properties, announces a lease expansion and the signing of three new tenants to two of their Petaluma properties, collectively totaling approximately 15,000 square feet. Longtime tenant Solairus Aviation nearly doubled their space in the Waterfront Office Building, and new tenants have signed there, as well as to the Retail space in the Theatre District.[contextly_sidebar id=”c251d3f69900b04ba7bdee2d6f002407″]“We are always thrilled when our existing tenants, like Solairus Aviation, can expand with us, as it means their business is thriving and we have been able to accommodate this growth through the high quality client service we pride ourselves on,” said Scott Stranzl, vice president of leasing for Basin Street Properties. “We are excited to bring Intrepid Travel, RE/MAX Regency and Salon Method to the residents of Petaluma. These leases are proof that the North Bay real estate market and economy in general is strong.”
The Waterfront Office Building is a three-story, 50,755 square foot Class A office building located in the downtown Petaluma Theatre District. The building boasts convenient access to Highway 101, free and abundant parking, on-site lockers and showers and is adjacent to the Petaluma River. Basin Street is represented by Tony Sarno and Sean Heaton of Cushman & Wakefield in leasing the Waterfront Office Building.
- Solairus Aviation, an aircraft charter and aviation asset management company, expanded their existing 5,800 square foot space for a total of 9,800 square feet for a seven-year term. This is the second time the company has added to their space at the Waterfront Office Building.
- Intrepid Travel, a small group adventure travel and destination management company, signed a six-year lease to occupy 4,826 square feet of space and is relocating from their current office in Santa Rosa.
- RE/MAX Regency, a franchise of the global real estate company, signed a five-year lease for 4,389 square feet.
“Employee well-being is always top-of-mind for us when making company decisions and our downtown Petaluma location is really something that is valued by all. Not only do our local employees enjoy the property and surroundings, but the area really is a draw for our many national employees who are often brought out to this office,” said Dan Drohan, chairman and CEO of Solairus Aviation. “We have had a long-standing relationship with Basin Street and they made it easy for us to sign on here for another seven years. We look forward to our expanded space, which will include a new employee lounge, larger conference room and ultimately allow for expected future growth.”
Located in the heart of Petaluma’s Theatre District, the Retail space is part of Basin Street’s mixed use Theatre Square project. It consists of 37,039 square feet of ground floor retail and office space and offers free and abundant parking, street-front retail spaces and is adjacent to the 12-screen Boulevard Cinemas. Basin Street is represented by Rhonda Deringer and Sara Wann of Keegan & Coppin Co., Inc. in leasing the Retail space.
- Salon Method, a full-service, upscale hair salon, signed a five-year lease for 1,614 square feet. The lease commenced on Mar. 1.
“When looking for a new space to accommodate the growth we’ve been experiencing, location was critical to our decision,” said Matt Berna, general manager and regional director of Intrepid Travel. “Petaluma was a clear choice, as the vibrant downtown restaurant, retail and music scene and easy commute to the Bay Area are great incentives for recruiting talented employees. Everyone we worked with at Basin Street was very professional, patient and friendly, making an investment like this much easier.”
Basin Street’s new tenants will be eligible to participate in the company’s Tenant Advantage Program (TAP) that was launched last year. The program offers exclusive discounts and promotions – typically 10 to 20 percent off retail goods and services – within Basin Street’s retail, residential and hospitality properties, as well as at partnering businesses. There is no cost to participate in TAP and the program extends to all tenants and retailers where the company owns property.
About Basin Street Properties
Basin Street Properties is a prominent Northern Nevada and Northern California developer, investor and manager of commercial properties. Basin Street has become widely recognized for its office, retail and mixed use developments. Founded 37 years ago, the company offers a broad range of real estate services, including development, property management, construction management, financial and asset management, and property acquisition and disposition. For more information, visit www.basin-street.com.