SAN RAFAEL, CALIF. (August 24, 2016) — Keegan & Coppin Company, Inc-ONCOR International has negotiated the sale of a prime multi-tenant office building in San Rafael to an owner-user relocating to Marin County. After receiving multiple offers, FJM Lucas Valley Associates, LP sold the property located at 101 Lucas Valley Road to Bleu Properties, Inc. for $8.29 million.
The building’s vintage is 1981 and contains a total of 34,924 square feet on a 4.49 acre lot. It was approximately 74% leased at the time of sale.
Bleu Properties, Inc.’s acquired the building to house the headquarters of sister company, Bleu Marketing Solutions, Inc., a fast growing full service marketing and advertising agency, which moved to the San Rafael property after spending nearly 15 years in San Francisco.
As a mid-sized employer, Bleu Marketing Solutions, Inc. and its employees will benefit from the building’s location near the US Route 101 highway, close proximity to public transit options, and its nearness to the San Rafael airport. Extensive high-end improvements to the building’s interior completed in 2008 and the serene environment of the surrounding Lucas Valley hills made the property a strong fit for Bleu Marketing Solutions, Inc.
Matt Storms, Theo Banks, and Nathan Ballard of Keegan & Coppin Company, Inc-ONCOR International represented the seller in the transaction.
About Keegan & Coppin Company, Inc.-ONCOR International
A dominant North Bay real estate firm since 1976, Keegan & Coppin Company, Inc.-ONCOR International provides a full range of services for tenants, property owners, and investors throughout Northern California. With more than 50 agents in 4 strategic offices in the North Bay – Santa Rosa, Petaluma, Napa, and Larkspur – Keegan & Coppin Company, Inc.-ONCOR International is the largest and most experienced commercial company in the North Bay. Our regional and global capability is facilitated through our ONCOR International affiliation, an organization of the leading commercial real estate firms in major markets across the U.S., Europe, the Americas and Asia.