Palo Alto, Calif. — Cornish & Carey Commercial Newmark Knight Frank (C&CCNKF) executed nearly 100,000 square feet of leases at Sierra Point Towers in Brisbane, California. Notably, eBay expanded to 41,347 square feet from 26,506 square feet and Hyperion, leasing 20,116 square feet, will double its footprint in a relocation from South San Francisco. Leasing activity accelerated in response to Diamond Investment Properties’ $5 million renovation at the 450,000-square foot, two-building complex.
“Sierra Point Towers now offers tenants many more ameni ties and is an exciting, dynamic work place,” said Kristoph Lodge, a C&CCNKF senior vice president who handles leasing with Senior Vice President Craig Kalinowski.
“We are pleased to welcome new tenants and accommodate growing enterprises expanding within Sierra Point Towers,” said Steve Diamond, who, together with Andrew Diamond, heads Diamond Investment Properties. “Upon the acquisition of 8000 Marina Boulevard in 2010, we embarked upon an aggressive capital improvement plan for the towers in order to offer our tenants the amenities Bay Area firms aim to provide their employees. Our diamonds in the rough are now gems.”
The 12-story, 250,000-square foot 2000 Sierra Point Parkway and the 8-story, 200,000-square foot 8000 Marina Boulevard comprise Sierra Point Towers. Improvements include a new restaurant, fitness center, conference area, outdoor basketball court and extensive landscaping with an outdoor plaza. 2000 Sierra Point Parkway is currently 90% leased to tenants including XO Jet, Glam Media, Walmart.com, Hyperion, BioMarin and Keystone Strategies. 8000 Marina Boulevard is partially occupied by eBay; 160,000 square feet remains available for lease.
“The recent leasing velocity at Sierra Point Towers is impressive, and we have had strong interest in the remaining vacant space,” continued Lodge. “This newly renovated property offering incredible signage opportunities and a prime location is a rare and attractive large block leasing opportunity. It won’t remain on the market for long.”
Recent leases at Sierra Point Towers include:
• eBay, represented by Jeff Black and Simon Clark of CBRE, expanded to 41,347 square feet from 26,506 square feet.
• Hyperion will double its footprint in a relocation from South San Francisco, leasing 20,116 square feet. Michael Pitre of Studley represented the tenant.
• BioMarin, which renewed its full 20,116-square foot floor lease, was represented by Mark Maguire, Phil Arnautou and Luke Wilson of Colliers.
• Keystone Strategies, represented by Alex Wilson of CBRE, expanded its footprint to 8,863 square feet from 5,602 square feet.
Offering breathtaking bay views, Sierra Point Towers is located on the San Francisco Bay Trail just off of Highway 101. A mere 10-minute drive to downtown San Francisco, the property has abundant on-site parking and a free shuttle to BART and CalTrain. Landmark building signage opportunities on Highway 101 are available on both buildings.
Diamond Investment Properties is an owner, operator, and developer of exceptional quality real estate properties. Principals Steve Diamond and Andrew Diamond have acquired and developed Class A properties including high-identity office towers, prime location suburban office buildings and luxury multi-family properties. Flagship properties include the 450,000-square foot bayfront Sierra Point Towers in Brisbane, 101 Redwood Shores Parkway in Redwood City (fully occupied by Perfect World Entertainment), the recently renovated Atherton Square medical complex and 1200 Lakeshore Avenue, Oakland’s finest luxury apartment tower.
About Cornish & Carey Commercial Newmark Knight Frank
A dominant regional real estate force since 1935, Cornish & Carey Commercial Newmark Knight Frank has an expansive reach as part of one of the largest commercial real estate service firms in the U.S. Regionally, Cornish & Carey Commercial Newmark Knight Frank has more than 310 agents in 13 strategically located offices throughout Northern California, creating a powerful platform from which to deliver superior services locally, while upholding its core values of integrity and knowledge. For further information, visit www.ccareynkf.com.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank (NGKF) is one of the world’s leading commercial real estate advisory firms. Together with its affiliates and London-based partner Knight Frank, NGKF employs more than 12,000 professionals, operating from more than 320 offices in established and emerging property markets on five continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. Its integrated services platform includes leasing advisory, global corporate services, investment sales and capital markets, consulting, program and project management, property and facilities management, and valuation services. A major force in the real estate marketplace, NGKF serves the local and global property requirements of tenants, landlords, investors and developers worldwide. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc. (NASDAQ: BGCP), a leading global brokerage company primarily servicing the wholesale financial and real estate markets. For further information, visit www.bgcpartners.com.