SAN FRANCISCO– Jan. 13, 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:
Marketo Expands by 35% at its San Mateo Headquarters, and Opens New Office in Atlanta
Marketo (NASDAQ: MKTO), the leading provider of marketing software, has expanded its San Mateo headquarters at 901-951 Mariners Island Boulevard by 27,000 square feet, an increase in square footage of approximately 35% . Since late 2009, Marketo has grown its headquarters at 901-951 Mariners Island from an initial 13,200 square feet to over 100,000 square feet today. Kevin Waldman and Pat Yaeger with DTZ represented Marketo in this recent expansion, and have advised the company on all of its previous real estate transactions. Additionally, DTZ’s Project and Development Services team led by Jason Schlutt has performed project management services for Marketo at its San Mateo headquarters since 2012.
Marketo also leased nearly 13,000 square feet in two transactions for a new office in Atlanta in the Buckhead submarket – the company’s first East Coast office. Waldman and Yaeger were joined by April Hawkinson and Kirk Diamond of DTZ’s Atlanta office in representing Marketo’s Atlanta expansion. In addition, Rob Learnard and Barbara Copeland of DTZ’s Project and Development Services team in Atlanta performed project management services for Marketo.
Headquartered in San Mateo, CA, Marketo (NASDAQ: MKTO) provides the leading marketing software for companies of all sizes to build and sustain engaging customer relationships. For more information, visit www.marketo.com
Wish Leases ±54,500 SF in Downtown San Francisco for Strategic, Phased Growth
San Francisco-based startup ContextLogic dba Wish, the leading mobile commerce platform in North America and Europe, has completed a phased-in lease totaling 54,501 square feet of Class A office space in downtown San Francisco,. Wish will be moving its Downtown San Francisco office to the top floors of the ±42-story high rise located at 1 Sansome Street. Wish will be situated on the top floors including the newly constructed Penthouses, which offer panoramic views of the city and surrounding area including the Bay. Owned by Prudential Real Estate Investors, 1 Sansome is positioned at the high-demand location of Sansome and Market streets in the city’s Financial District. Wish’s new multi-floor transaction will be phased-in to appropriately coincide with its future strategic growth plans. Wish is a thriving startup that strives to create an office environment that is collegial, fun and flexible. The team of Jason Burch, Jim Chesler and Charlie Moore with DTZ represented the tenant in the transaction.
Updike Distribution Leases 96,100 SF Class A Industrial Facility in Sac Valley
Updike Distribution Logistics has leased 96,100 square feet of warehouse/distribution space in the Sacramento Valley. The space is part of a larger, multi-tenant Class A industrial facility located at 2160 Hanson Way in the city of Woodland, CA. Updike, a third-party logistics provider, will utilize the facility for the supply and distribution of Arizona Iced Tea products. Owned by Sycamore Hanson & Northland Hanson, LLC, the property is rail served and provides immediate access to Interstate 5. Ken Reiff, SIOR, and Michael Harris with DTZ represented the landlord in the transaction.
21st Amendment Expands Brewery at Williams Street Industrial Park
21st Amendment Brewery has leased an additional 58,648 square feet of space for its state-of-the-art brewery at the Williams Street Industrial Park in San Leandro, CA, bringing the project’s total occupancy to 100%. The space increases 21st Amendment’s new East Bay brewery from the ±95,000 square feet reported earlier this year to ±148,348, the entire building at 2010 Williams Street. Future plans may also call for a ±5,000 square foot brewery café/pub also as part of the facility. 21st Amendment, which has offices in Oakland and operates a popular local brewpub in San Francisco, brews the majority of its beer in Minnesota. The new San Leandro facility will allow distribution into the Northwest, Southwest and Southern California markets.
Located in two buildings at 2010-2020 Williams Street, the multi-tenant Williams Street Industrial Park totals ±439,400 square feet. The park is owned by Broadreach Capital Partners. Jeff Starkovich and Michael Karp with DTZ represented the landlord in the transaction.
Good Eggs Leases 56,000 SF at San Francisco Wholesale Produce Market
Good Eggs leased 56,000 square feet of space at a brand new LEED Gold distribution facility located in the San Francisco Wholesale Produce Market in San Francisco. Good Eggs, a company that supports a local food system by delivering fresh food from local producers to residential customers, will utilize the facility located at 901 Rankin Street for its central operations as well as distribution center for Bay Area customers. The brand new facility provides industrial as well as back office space plus a number of specialized features to facilitate the cold storage and distribution of food products. It also provides great access to Interstate 280 and U.S. Route 101. Tim Garlick and Matt Squires with DTZ represented the landlord in the transaction.
“The speed to which this space was leased and the demand for more industrial space in the neighborhood means we need to continue to support our industrial sector,” Mayor Ed Lee said in a statement to the San Francisco Chronicle.
“For over 53 years, the San Francisco Wholesale Produce Market has successfully provided food infrastructure space for Bay Area companies. We are extremely enthused that Good Eggs has chosen to base and continue to build their business with us at the Market” said Larry Brucia, President of the Market Board of Directors. “As leaders in their sectors, Good Eggs and Mollie Stone’s Markets are the perfect fit for our new Leed-Gold expansion building.”
For more information about the San Francisco Wholesale Produce Market visit www.sfproduce.org
Suddath Relocation Systems Grabs ±83,900 SF Warehouse Space and Yard in San Jose, CA
Suddath Relocation Systems has leased ±83,914 square feet of warehouse space in north San Jose’s International Business Park. The space is part of a larger multi-tenant warehouse condo facility located at 2071 Ringwood Avenue and owned by D.R. Stephens & Company. The long-term lease also includes ±3.1 acres of adjacent fenced yard space also owned by D.R. Stephens & Company. Suddath will be relocating from central San Jose. Scott Borgia, Jim Kovaleski and Craig Kovaleski with DTZ represented the landlord in the transaction.
AgilOne Relocating/Expanding into an Entire, Improved R&D Building in Sunnyvale
AgilOne, Inc., a predictive marketing cloud company, has leased an entire 23,600 square foot R&D building in Sunnyvale, CA. The single-story freestanding building is located at 771 Vaqueros Avenue in the city’s western area. AglilOne is relocating and expanding from neighboring Mountain View. 771 Vaqueros is owned by W.F. Batton and features newer interior improvements, landscaping, exterior glass, and also a kitchen with exterior dining patio. It is also located nearby public transportation services and other amenities. Alan Guterman, Steve Horton and Kelly Yoder with DTZ represented the landlord in the transaction.
Newco Distributors Doubles Size to 52,880 SF at Hayward Gateway Center
Newco Distributors, Inc. has doubled its East Bay warehousing/distribution footprint to 52,880 square feet at the Hayward Gateway Center in Hayward, CA. Newco renewed its existing lease of ±26,400 square feet and expanded into an adjacent space of equal size. Owned by Invesco Real Estate, Hayward Gateway Center is a ±1.2 million square foot business park located along Arden Road and Danti Court, providing great access to Interstate 880 and California Route 92, the bridge way to San Mateo and the San Francisco Peninsula. Jeff Starkovich and Jay Hagglund with DTZ represented the landlord in the transaction.
Lennar Commercial Buys Multiple R&D Buildings Totaling 188,000 SF in Santa Clara, CA
Lennar Commercial and Rialto Capital Management, both subsidiaries of publicly traded Lennar Corp., acquired multiple R&D buildings totaling 188,000 square feet on ±8.6 acres in Santa Clara, CA, from Texas Instruments. The sale consists of a vacant ±140,000 square foot Class A headquarters building at 3689 Kifer Road, plus other smaller buildings and an adjacent surface lot located along San Ysidro Way and Tahoe Way. The properties are all conveniently located approximately one block west of Lawrence Expressway. Positioned within close walking distance to the Lawrence Caltrain station, the headquarters building is being rebranded by the buyer as @LawrenceStation. Brandon Bain and Erik Hallgrimson with DTZ represented the buyer in the transaction and have also been retained for leasing assignment.
Residential Developer Purchases 184 Acre Wallis Ranch in Dublin, CA
Development Solutions WR, LLC, which is comprised of Trumark Companies/Isles Ranch Partners, LLC & Castlelake, LP, formerly TPG Credit, has officially purchased the 184 acre Wallis Ranch in Dublin, CA, for approximately $200 million. The seller was Fallon Real Estate Investors, LLC, who are long-time property owners of tri-valley real estate. Wallis Ranch is located in east Dublin, nestled north of Roxbury on Tassajara Road, and extends uphill to the Alameda/Contra Costa County line. Wallis Ranch is a unique residential housing development site approved for 805 single-family homes. It is one of the last remaining parcels of fully entitled land in the Bay Area and represents a significant master-plan single-family land transfer. Trumark reportedly aims to deliver the first new home models by fall 2015. David J. Orozco with DTZ represented both parties in the transaction.
Two DaVita Dialysis Net Leased Properties Sell in San Francisco Bay Area
Two properties leased on a double net basis to DaVita Dialysis have sold in separate transactions in the Bay Area for a combined price of over $14 million. The sellers and buyers were all different in the transactions. The first sale was comprised of an 8,171 square foot property located at 1221 Rossmoor Parkway in Walnut Creek, CA. The second sale consisted of a 9,075 square foot property located at 275 DiSalvo Avenue in San Jose, CA. Chris Sheldon and Andy Bogardus with DTZ and James Chung of Terranomics Retail Services represented the Seller in the Walnut Creek transaction. Chris Sheldon and Andy Bogardus with DTZ in collaboration with Sonny O’Drobinak and Michael Cisternino of Transwestern represented the Seller in the San Jose sale.
Sistema US Buys ±88,500 SF Facility in Petaluma, CA, Adding to Local Ownership Portfolio
Sandy Bay, LLC dba Sistema US, an affiliate of New Zealand-based Sistema Plastics, has added to its local North Bay real estate portfolio with the purchase of an 88,466 square foot industrial facility in Petaluma, CA. Sistema purchased the partial two-story building located at 755 Southpoint Boulevard from Inland American. About 16 months ago, Sistema also acquired the adjacent 94,500 square foot building at 775 Southpoint Boulevard from the same seller. Both buildings are considered rare, North Bay industrial properties. Brian Foster and Steven Leonard with DTZ represented the buyer. Foster and Trevor Buck, also with DTZ, represented the seller.
The fastest growing food storage brand in the World, Sistema Plastics is a product line that began in a garage in New Zealand and 30 years later now exports to 59 countries around the world. Sistema Plastics is a proponent of BPA-free and lead-free quality plastic storage. Sistema US was founded in 2007 and is privately held.
KB Home Purchases Vacant Land off I-580 in Livermore, CA, for New Development
KB Home has acquired a ±3.2 acre vacant parcel of land on the southwest corner of Las Flores Road at Bluebell Drive in Livermore, CA. The seller was Ahn Investments, Inc. The land is designated Urban High Residential – 3, which allows for 14-18 dwelling units per acre. KB Home plans to construct 58 new townhomes on the property. The location provides easy accessibility and is positioned just off the junction of 1st Street/Springtown Boulevard and Interstate 580. It is also close to Springtown Golf Course, hotels, retail commercial services and an Amtrak station. David J. Orozco with DTZ, in collaboration with Mark Triska at Colliers International, brokered the transaction.
Violich Farms Buys Waterfront Project from Seagate Properties in San Rafael, CA
Violich Farms has acquired adjacent one-story and two-story office/retail buildings totaling 15,807 square feet in San Rafael, CA for $6.4 million. The seller was Seagate Properties. The project is located at 171 & 181 Third Street, adjacent to Montecito Plaza, with a waterfront location on the San Rafael Canal. Michael Speers and Trevor Buck of DTZ represented the seller. Brian Foster also of DTZ represented the buyer.
Investor Acquires Margarita Plaza Office Complex in San Rafael, CA
North River, LLC, has acquired the 30,000 square foot Margarita Plaza office complex in San Rafael, CA, for $6 million ($200 per square foot). The seller was Jorgensen Properties, which had owned the property for more than three decades before electing to sell. The multi-tenant complex is composed of three single-story buildings consisting of 25 individual office suites. The property is located at 36 Mitchell Boulevard at the corner of Redwood Highway. Steve Easley with DTZ represented the seller.
Belmont Wine Exchange Buys 52,500 SF Building in Hayward Bridge Business Park
Belmont Wine Exchange, an owner/user, has acquired the 52,500 square foot industrial building in the Hayward Bridge Business Park in Hayward, CA. The seller was Longdo Trucking, which had owned and occupied the building located at 25811-25817 Clawiter Road for just over two and half years. Marshall Hydorn, Derik Benson and Jay Hagglund with DTZ represented the buyer in the transaction. Tom Damaschino also with DTZ represented the seller.
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.
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: www.DTZ.com or follow us on Twitter @DTZ.
Lead Contacts (alphabetical by first name):
Alan Guterman, (408) 615-3400, Alan.Guterman@dtz.com
Brandon Bain, (408) 615-3400, Brandon.Bain@dtz.com
Brian Foster, (415) 485-0500, Brian.Foster@dtz.com
David Orozco, (925) 621-3840, David.Orozco@dtz.com
Jason Burch, (415) 781-8100, Jason.Burch@dtz.com
Jeff Starkovich, (510) 465-8000, Jeff.Starkovich@dtz.com
Ken Reiff, (916) 375-1500, Ken.Reiff@dtz.com
Kevin Waldman, (650) 347-3700, Kevin.Waldman@dtz.com
Marshall Hydorn, (650) 347-3700, Marshall.Hydorn@dtz.com
Michael Speers, (415) 781-8100, Michael.Speers@dtz.com
Scott Borgia, (408) 615-3400, Scott.Borgia@dtz.com
Steve Easley, (415) 485-0500, Steve.Easley@dtz.com
Tim Garlick, (510) 465-8000, Tim.Garlick@dtz.com
Tom Damaschino, (510) 465-8000, Tom.Damaschino@dtz.com
Trevor Buck, (415) 485-0500, Trevor.Buck@dtz.com