SAN FRANCISCO, CA – Jan. 29, 2015 – DTZ, a global leader in commercial real estate services, announces the following lease and sale transactions originated in the firm’s Northern California offices:
LEASES
Sungevity Powers Up ±72,000 SF Lease Expansion for Growth in Kansas City, MO
Sungevity, a global solar electricity company headquartered in Oakland, CA, has leased 71,293 square feet of office space at City Center Square in downtown Kansas City, MO. The solar company is opening a new national sales and service center in the Midwest for expanded coverage. The lower operating costs and excellent labor pool associated with the area allowed Sungevity to make a long-term commitment to the Kansas City location. Sungevity will remodel its new downtown space where it plans to house up to 595 employees. Owned by Nightingale Realty, the property is located at 1100 Main Street in the city’s trendy Power & Light District. Marc Ward and Michael Raffetto with DTZ’s Oakland office in collaboration with Mike Mayer, Tom Houts and Jeff Winters in the firm’s Kansas City office represented the tenant in the transaction.
Almaden Financial Plaza Adds New Top Foor Tenant, RiseSmart
RiseSmart, Inc., a provider of contemporary career transition services, has signed a full-floor lease totaling 17,941 square feet at the Almaden Financial Plaza in downtown San Jose, CA. RiseSmart will occupy the entire top floor in the eight-story building located at 55 Almaden Boulevard. The Almaden Financial Plaza is a three-building, Class A office complex owned by Embarcadero Capital Partners The newly renovated, high-profile complex is well located at the gateway to downtown, at the intersection of Almaden Boulevard and W. Santa Clara Street. Brittain Cheney, Steve Horton, Brandon Bain and Kelly Yoder with DTZ represented the landlord.
Matson Navigation Adds Another Decade to 48K SF Headquarters Lease at 555 City Center
Matson Navigation, a global transportation services company, has extended the lease term of its multi-floor, worldwide headquarters at 555 City Center in Oakland, CA, for an additional 10 years Matson, which relocated its headquarters from San Francisco to its current home in the heart of Oakland’s City Center a decade ago, is located in ±48,000 square feet on the seventh and eighth floors of the 20-story Class A high-rise. Owned by Harvest Properties, 555 City Center is a LEED Gold certified, high-quality freestanding office tower that consists of first class, high-end finishes complemented by world-class views of the San Francisco Bay and East Bay hills. The 12th Street BART station plus a strong mix of retail, dining and other amenities are also within walking distance. The tower is recognized not only as one of the premier office towers in Oakland, but throughout the entire Bay Area. John Dolby and Dane Hooks with DTZ represented the landlord in the transaction.
Clarizen Grows Nearly Fourfold at Peninsula Office Park in San Mateo, CA
The Peninsula Office Park in San Mateo, CA, has expanded existing tenant, Clarizen, nearly fourfold within the park. Clarizen is increasing its occupancy to 27,737 square feet on the entire third floor at 2755 Campus Drive. The park’s owner, Equity Office Properties, was able to successfully accommodate the expansion needs of the rapidly growing software company that had been occupying ±8,400 square feet in a neighboring building. Peninsula Office Park is a seven-building Class A campus situated in a park-like setting at W. Hillsdale Boulevard and California State Route 92. The park features an on-site café and fitness center, shuttle service to Caltrain and easy freeway access. Ben Paul, John Barsocchini and Pat Yaeger with DTZ represented the landlord in the transaction.
Movoto, Moving to New, Larger Home at The Atrium in San Mateo, CA
Movoto, a growing online residential real estate brokerage and referral site, has leased 16,738 square feet of Class A office space at The Atrium in San Mateo, CA. Movoto is relocating and expanding nearly three-fold from a nearby address to its new home at 1900 S. Norfolk Street, located near the convergence of U.S Route 101 and California State Route 92. Owned by Prometheus Real Estate Group, The Atrium has historically excelled at accommodating fast-growing companies such as Inktomi, Epiphany and most recently Green Plum, which grew to 70,000 square feet in the building prior to being acquired by EMC. Ben Paul, Mike Moran and Pat Yaeger with DTZ represented the landlord in the transaction. Marc Pope, also of DTZ, represented the tenant. Additionally, DTZ’s Project and Development Services in Northern California will be handling tenant improvements, led by Rick Couer of the firm.
It was recently reported that Movoto.com was the sixth most-visited residential real estate website network in October. For more on Movoto, visit www.movoto.com
San Francisco-Based Appirio Takes Additional Floor at Pan American Plaza Tower in Indianapolis
San Francisco-based Appirio, Inc., a global cloud consultancy, has renewed and expanded into a total of ±25,000 square feet of office space at the Pan American Plaza tower in downtown Indianapolis to accommodate its continued growth in the Midwest. Appirio renewed its existing occupancy of ±12,500 square feet space on the eleventh floor and also exercised its option on ±12,500 square feet on the tenth floor of the 12-story building located at 201 S. Capitol Avenue. The deals will run coterminous and span several years. Appirio has been a tenant of the building since 2012 and uses the space as an office and cloud computing development center. The expansion is consistent with the company’s initial near-term plan to hire several hundred people at its Indianapolis office. Owned by Pan Am SCE I, LLC, Pan American Plaza is a spacious brick plaza in the center of downtown and bordered by Union Station, which commemorates Indy’s hosting of the 1987 Pam American Games. Brad Werner, Sean McCallum, John Crisp and Spud Dick with DTZ’s San Francisco and Indianapolis offices teamed up to represent Appirio in the transaction.
Founded in 2006, Appirio is a trusted partner to companies such as Apria, Coca-Cola, eBay, Facebook, Japan Post Network, L’Oreal, NetApp, The Four Seasons and Virgin America. For more information, visit http://appirio.com/
SALES
Investor Acquires De Haro Place in San Francisco SoMa Corridor for $92.7 Million
ASB Capital Management has acquired De Haro Place, a creative office building, plus an adjacent building in San Francisco from Ares Management, LLC for approximately $92.7 million. De Haro Place is a fully renovated, 100% leased—to seven tenants—Class A creative office building comprised of 138,430 square feet. Originally constructed in 1927, the building was completely transformed and renovated in 2013 to create a work environment ideal for technology and creative users. The building features a dramatic two-story atrium, vaulted ceilings, skylights, and collaborative space. The adjacent property, 488 De Haro Street, is a three-story 12,528 square foot building constructed in 1937. The building is currently vacant and primed for renovation or redevelopment as office, retail or multi-family.
The property is strategically positioned within San Francisco’s booming SoMa Technology Corridor. The property enjoys excellent freeway access, shuttle service to Caltrain and the Civic Center BART station, on-site and street parking, an exclusive outdoor patio area, and proximity to plentiful neighborhood amenities including a Whole Foods Market across the street.
Robert Gilley and Steve Hermann with DTZ represented the seller.
Carlyle Group Buys 314,250 SF Vasona Technology Park in Campbell, CA from Hines Interests
The Carlyle Group has purchased the 314,256 square foot Vasona Technology Park in Campbell, CA, from Hines Interests L.P. Vasona Technology Park is composed of seven multi-tenant office/flex buildings located at 200-250 E. Hacienda and 1315-1357 Dell Avenue. The park provides a mix of one and two-story office and R&D spaces that promote efficient open floor plans with extensive glass line, grade and dock-high level doors. The park also features 3.7 parking spaces per 1,000 square feet of leasable square footage. Set in a convenient West Valley location, the property offers excellent visibility at the corner of Winchester Boulevard and Hacienda Avenue, as well as quick access to San Tomas Expressway / Camden Avenue, California State Routes 85 and 17, and VTA Light Rail. The Los Gatos Creek County Park, Los Gatos Creek Trail and Vasona Park are also nearby. Eric Fox, Robert Gilley and Steve Hermann with DTZ represented the seller in the investment transaction.
Westcore Properties Buys 165,497 SF property for $52.7 million from WTA Development
Westcore Properties has acquired a 165,497 square foot property in Sunnyvale, CA, for $52.7 million from WTA Development. The property includes a three-story office building and single-story data center located at 1390 and 1400 Kifer Road. Westcore Properties plans to do a major renovation on the currently vacant office building, which will include a new outdoor tenant amenity area, landscaping, lobby and interior finishes. CenturyLink, a leading provider of Internet, TV and Voice, occupies the data center. The office building and the data center are less than one mile away from CalTrain and also have easy access to U.S. Route 101. Steve Horton and Kelly Yoder with DTZ in collaboration with Joe Moriarty and Brad Zampa with CBRE, represented the seller. DTZ will also be handling the leasing assignment on behalf of Westcore.
South Bay Development Sells 110,300 SF Industrial/Flex Park to WTA Development
South Bay Development Co. has sold an 110,332 square foot industrial/flex park in Campbell, CA, to WTA Development. Located at 1500-1520 Dell Avenue, the business park is comprised of four multi-tenant industrial/flex buildings. The property is desirably located next to the Los Gatos Creek County Park and Los Gatos Creek Trail that provides bike and walk/jog paths, and VTA Light Rail. Eric Fox, Robert Gilley and Steve Hermann with DTZ represented the seller. Steve Horton, Alan Guterman, Colin Feichtmeir and Kelly Yoder with DTZ represented the buyer and will be handling the leasing assignment.
WTA Development Purchases 42,100 SF Building in Sunnyvale, CA
WTA Development has purchased a 42,112 square foot, freestanding R&D property in Sunnyvale, CA, from a global investment advisor. The single-story building is located at 1277 Reamwood Avenue. WTA plans a full Class A renovation on the property, which has served home to several tech companies over the years. Gregory Davies, Steve Horton and Kelly Yoder with DTZ represented the buyer and will be handling the leasing assignment.
Electrical Supply Contractor Buys Larger Warehouse Facility in Burlingame, CA for $6.85 Million
Feltsberg, LLC, an owner/user, has acquired a 37,362 square foot, freestanding warehouse facility in Burlingame, CA, for $6.85 million (±$183 per square foot) in an off-market transaction. The property is located at 845 Stanton Avenue along the San Francisco Bay, midway between U.S. Route 101 and Bayshore Highway. Feltsberg, an electrical supply contractor, purchased the property for future expansion. The seller was Michael Hensley. Matt Squires with DTZ represented the buyer in the transaction.
DTZ 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.
About DTZ
DTZ is a global leader in commercial real estate services providing occupiers, tenants and investors around the world with a full spectrum of property solutions. Our core capabilities include agency leasing, tenant representation, corporate and global occupier services, property management, facilities management, facilities services, capital markets, investment and asset management, valuation, building consultancy, research, consulting, and project and development management. DTZ manages 3.3 billion square feet and $63 billion in transaction volume globally on behalf of institutional, corporate, government and private clients. Our more than 28,000 employees operate across more than 260 offices in more than 50 countries and proudly represent DTZ’s culture of excellence, client advocacy, integrity and collaboration. For further information, visit: http://www.dtz.com/ or follow us on Twitter @DTZ
