Latest Leases and Sales Closed by Cassidy Turley in Northern California

SAN FRANCISCO– November 25, 2014 – Cassidy Turley, a leading commercial real estate services provider in the U.S., announces the following lease and sale transactions originated in the firm’s Northern California offices:

LEASES

Macy’s Renews 257,500 SF Distribution Center/Furniture Clearance Store in Union City, CA

Macy’s West Stores, Inc. has extended the lease term on its 257,500 square foot distribution center/furniture store in Union City, CA. Macy’s has utilized the facility located at 1200 Whipple Road for many years to service its department stores throughout the San Francisco Bay Area, as well as operate its Macy’s Furniture Clearance store offering a complete selection of furniture including sofas, recliners, tables and mattresses. The property is well located on Whipple Road between Interstate 880 and Mission Boulevard and is owned by James Campbell Company. Macy’s, Inc. is one of the nation’s premier omnichannel retailers, with fiscal 2013 sales of $27.9 billion, and operating about 840 department stores. For more visit www.macysinc.com. Jay Hagglund with Cassidy Turley represented the tenant, and Jeff Starkovich also with Cassidy Turley represented the landlord in the transaction.

Major Ad Firm EVB Migrating Headquarters from San Francisco to Oakland

Independent advertising agency EVB has closed a deal that will relocate its headquarters from San Francisco to Oakland in early 2015. The creative firm, which was founded in San Francisco’s SoMa district, signed a new lease for approximately 10,000 square feet and will be taking over the second and third floors at 1738 Telegraph Avenue in Oakland’s burgeoning Uptown district. The historical building is located across the street from the Fox Theatre and was recently acquired by well-known local landlord 360 Ventures V, LLC, which is known for renovating and modernizing older buildings. The office will be turned into creative space and will also feature a private outdoor deck overlooking Telegraph Avenue. John Dolby and Dane Hooks with Cassidy Turley represented the tenant in the transaction.

“We have recently experienced steady waves of migratory flow into Oakland across various office sectors. Two years ago, it was the non-profits; last year the professional services; and now this year the tech and creative firms are starting to migrate into Oakland,” said Mr. Hooks.  “This transaction represents one of the biggest creative firm migrations and the first major advertising firm moving from San Francisco into Oakland in memory, and certainly in the past real estate cycle.”

Notably, EVB was rated in the Top 5 this year for social media advertising companies based on Bay Area employee count by the San Francisco Business Times. For more on EVB, visit www.evb.com

InnoTrans Communications Relocating/Expanding Presence in South San Jose, CA

InnoTrans Communications (InnoTrans) has leased 27,661 square feet of R&D space from property owner MWest in south San Jose, CA. InnoTrans is relocating and expanding its operation in the city’s southern area to 5830 Hellyer Avenue. MWest acquired the multi-tenant building located at 5830-5870 Hellyer Avenue nearly two years ago as part of a large local portfolio from Mission West. Erik Hallgrimson, Brandon Bain, Steve Horton and Kelly Yoder with Cassidy Turley represented the landlord in the transaction.

SALES

Ellis Partners Acquires Campbell, CA Landmark, The Pruneyard Mixed-Use Center

Ellis Partners has purchased The Pruneyard, a 27-acre mixed-use landmark asset located in the heart of Campbell, CA, from Equity Office Properties. The Pruneyard consists of 365,229 square feet of Class A office space, approximately 250,000 square feet of retail space, a 171-room Hilton Doubletree hotel plus a parking structure. Ellis Partners will draw on its experience with other properties including Town and Country Village inPalo Alto to make strategic cosmetic upgrades to the facility, creating an improved experience for visitors and a more attractive gathering space for the local community. Key tenants of The Pruneyard include Marshall’s, Sports Basement, Trader Joe’s and Camera Cinemas. Bob Simpson and Todd Beatty with Cassidy Turley worked in conjunction with Greg Cioth and Andy Zighelboim of Eastdil to represent the seller in the sale. Simpson and Beatty have also been retained by Ellis Partners to continue marketing the project’s three large Class A office buildings composed of an 18-story tower, a 10-story tower and a six-story mid-rise totaling 365,229 square feet of space.

Cassidy Turley Mortgage Services Closes $21.5 Million Refinancing Loan for Eastport Plaza in Portland

Kurt Scheidt and Terry Daly with Cassidy Turley Mortgage Services have closed on a $21.5 million refinancing loan for the 268,328 square foot Eastport Plaza shopping center in Portland, OR.  The Cassidy Turley team arranged a non-recourse, fixed rate loan on behalf of Eastport Plaza Shopping Center, L.P. The community shopping center features major retailers such as Century 16 Theaters, LA Fitness and a JoAnn Superstore, as well as eateries and personal and professional services.

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):
Bob Simpson, (408) 615-3400Bob.Simpson@cassidyturley.com
Dane Hooks, (510) 465-8000Dane.Hooks@cassidyturley.com
Erik Hallgrimson, (408) 615-3400Erik.Hallgrimson@cassidyturley.com
Jay Hagglund, (510) 465-8000Jay.Hagglund@cassidyturley.com
Jeff Starkovich, (510) 465-8000Jeff.Starkovich@cassidyturley.com
Kurt Scheidt, (415) 781-8100Kurt.Scheidt@cassidyturley.com
Terry Daly, (415) 781-8100Terry.Daly@cassidyturley.com

For market statistics or data, please contact: 

Garrick Brown, Vice President, Research—Western US, (916) 329-1558Garrick.Brown@cassidyturley.com

About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 4,000 professionals in more than 60 offices nationwide. With headquarters in Washington, DC, 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 $25.8 billion in 2013, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 24,000 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 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.

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