Nutiva and Sasol Wax N.A Relocate to Richmond Distribution Center; Companies Combine to Sublease 155,585 SF of Warehouse/Manufacturing Space
August 8, 2012 – Adam Peterson, Justin Grilli, Jeff Leenhouts and Gary Fracchia all with Cassidy Turley have recently brokered two separate industrial sublease transactions at the Richmond Distribution Center for a total of 155,585 square feet. Peterson and Grilli teamed up in one of the deals, and Leenhouts and Fracchia teamed up to handle the other. In the largest of the transactions, Peterson and Grilli represented subtenant Nutiva, which sublet 104,385 square feet of warehouse/manufacturing space at the facility located at 211-213 West Cutting Boulevard. Nutiva, a producer of the high-quality organic superfoods, is moving its corporate headquarters from Oxnard, Southern California. The company’s new headquarters will be a state-of-the-art high-speed manufacturing facility and will help expand its private label business. In the second of the transactions, Leenhouts and Fracchia represented both subtenant Sasol Wax North America and sublessor National Distribution Agency (NDA) in the sublease of 51,200 square feet at the same facility. Headquartered in Hayward, Sasol Wax specializes in formulating, blending, and packaging wax based products, including custom blends to specific customer specifications. Nutiva and Sasol Wax will have combined to take roughly 65% of the +/-238,000-square-foot warehouse/distribution building.
Western Digital Corporation Relocating/Expanding into 39,703 SF Building in Mountain View
August 8, 2012 – Steve Horton and Kelly Yoder with Cassidy Turley and Jeff Arrillaga with Cornish & Carey Commercial Newmark Knight Frank represented landlord WTA Clyde, LLC in the lease of an entire 39,703-square-foot R&D/Office building at 640 Clyde Court in Mountain View. The new tenant is Western Digital Corporation, which will be relocating and expanding nearly fourfold in Mountain View from 10,040 square feet in a nearby multi-tenant building on National Avenue to its new freestanding building on Clyde Court where it will be the sole occupant. 640 Clyde is a single-story building featuring an attractive open layout, perimeter private offices, labs with raised floors, showers and uniquely arched window lines. The property is walking distance to Light Rail Stations & Caltrain as well as amenities such as Specialties & Peet’s Coffee, and also provides easy access to Highways 237, 85 & 101.
Olam Tomato Processors Goes Term on 141,500 SF & Co-Terminous on 298,000 SF at New Woodland Facility
August 8, 2012 – Ken Reiff with Cassidy Turley represented tenant Olam Tomato Processors, Inc. in two lease transactions of nearly 450,000 square feet that it was occupying at its new storage facility at 1400 Churchill Downs in Woodland. In the first transaction, Olam penned a new five-year lease agreement for 141,500 square feet of space which the company had been leasing on a month-to-month basis. And in the second part of the transaction, Olam extended its term on 298,000 square feet of space by an extra year in order to run co-terminous with the new term lease. Last year, Olam had consolidated and expanded from three separate Woodland locations to its new larger storage facility. Previously home to Georgia-Pacific, LLC, the 569,000-square-foot Woodland facility allows Olam the potential for future expansion.
Olam supplies 20 agricultural products and food ingredients and operates in 65 countries. The company’s other California facility is in Lemoore.
State Compensation Insurance Fund Relocating to 33,505 SF Office Space in Fast-Growing Rohnert Park, Signs Long-Term Lease
August 8, 2012 – Richard Henderson with Cassidy Turley represented landlord Krausz Puente, LLC in the lease of 33,505 square feet of office space in the North Bay city of Rohnert Park. The tenant is State Compensation Insurance Fund, which signed a long-term lease on the entire first floor of the two-story building located at 6000 State Farm Drive. The lease represents approximately seventy percent of the building’s current occupancy. State Compensation is relocating from a neighboring building at 5900 State Farm Drive. 6000 State Farm Drive is located in a highly visible location near the signalized intersection at State Farm Drive and Rohnert Park Expressway along Highway101 in one of the highest identity locations in Rohnert Park, one of the North Bay’s fastest growing cities.
Ferguson Enterprises Takes 52,482 SF Sacramento Industrial Facility for Showroom/Distribution/Fabrication
August 8, 2012 – Ken Reiff with Cassidy Turley represented tenant Ferguson Enterprises in its leasing of a 52,482-square-foot industrial facility in Sacramento. The property is located at 4210 Roseville Road and is owned by Northshore Resources I, L.P. Ferguson Enterprises plans to occupy the space later this fall and will use the facility as a showroom/distribution center as well as fabrication for its plumbing and building products. The facility formerly housed JC Penney’s warehousing operation. With over 1,300 locations, Ferguson is the largest distributor of residential and commercial plumbing products. Ferguson is one of Wolseley plc’s international businesses.
Globalhawk Insurance Buys 36,400 SF Building in Livermore for $3.87 Million
August 8, 2012 – Mark Dowling and Matt Manos with Cassidy Turley represented Globalhawk Insurance, an owner/user, in the acquisition of a 36,400-square-foot single-story R&D building in Livermore for $3,870,000 ($106.32 per square foot). The property is located at 2525 Colliers Canyon Road and is one of four buildings comprising the Shea Business Center. The seller was Shea Center Livermore Office, LLC. Globalhawk will be relocating its office from a nearby 2ndfloor space in a multi-tenant building at 3090 Independence Drive. Its new location will provide the company with freeway exposure plus building and monument signage. Globalhawk specializes in commercial auto/trucking, general liability, physical damage and cargo.
Owner/User Buys Multi-Tenant Medical Office Building in Los Gatos for $2.46 Million
August 8, 2012 – Derik Benson with Cassidy Turley represented seller Los Gatos Medical Park in the sale of a 7,490-square-foot multi-tenant medical office building in Los Gatos for $2,460,000 ($328.44 per square foot). The buyer was Combined Capital, LLC, a partial owner/user, which will likely be occupying about 65% of the building located at 800 Pollard Road, Building A. The balance of the space will be a sale/leaseback. The building is one of three that makes up a project known as the Los Gatos Medical Center. The property is very well located across the street from El Camino Hospital of Los Gatos.
Cassidy Turley provides this information based on best-available knowledge and does not warrant accuracy provided us by 3rd parties. For further verification and/or questions, please contact the brokers listed below with the particular news announcement.
Lead Contacts (listed alphabetical by first name):
Adam Peterson, (510) 465-8000, apeterson@ctbt.com
Derik Benson, (408) 436-3670, derik.benson@ctbt.com
Jeff Leenhouts, (510) 465-8000, jleenhouts@ctbt.com
Ken Reiff, (916) 375-1500, kreiff@ctbt.com
Mark Dowling, (925) 621-3840, mdowling@ctbt.com
Richard Henderson, (707) 360-1300, rhenderson@ctbt.com
Steve Horton, (408) 615-3400, steve.horton@ctbt.com
For market statistics or data, please contact:
Garrick Brown, Director of Research, (916) 329-1558, gbrown@ctbt.com
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,600 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2011, manages 455 million square feet on behalf of institutional, corporate and private clients and supports more than 28,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside of North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.
Cassidy Turley provides regional real estate services in Northern California. With 15 Northern California offices and a 400-member team, our Northern California market leadership is demonstrated by completion of over 3,300 transactions, totaling over $4.3 billion in 2011.
