Latest Sales Closed by Cassidy Turley in Northern California – October 1, 2014

SAN FRANCISCO– October 1, 2014 – Cassidy Turley, a leading commercial real estate services provider in the U.S., announces the following sale transactions originated in the firm’s Northern California offices:

A Global Investment Advisor Sells Three Fully Leased Properties Totaling ±147,000 in North San Jose in Two Separate Transactions
A global investment advisor has successfully completed the sale of three multi-tenant, single-story R&D buildings totaling 146,990 square feet located in North San Jose. The properties were sold in two separate transactions and involved two different investment buyers. The first transaction consisted of the sale of the two buildings located at 2191-2199 Zanker Road (46,305 square feet) and 150-180 Charcot Avenue (41,905 square feet) to Dollinger Properties. Both buildings were constructed in 1979 and are fully leased to multiple tenants such as Underwriters Laboratories and Minicomputer Exchange. The second transaction consisted of the sale of the 58,780 square foot building at 105 East Tasman Drive / 161 Baypointe Parkway to Jenab and Lindsey Family Trusts. Constructed in 1998 the building is fully leased to two tenants, RF Micro Devices and Chart Industries, Inc. (formerly Cryotech International). Eric Fox, Robert Gilley and Steve Hermann of Cassidy Turley represented the seller in each of the dispositions.

KTR Capital Partners Acquires Seven Buildings Totaling ±208,400 SF in North Hayward Corporate Center
An investment advisor, on behalf of a separate account, has sold seven buildings totaling 208,420 square feet located in the North Hayward Corporate Center to KTR Capital Partners. In all, the North Hayward Corporate Center is comprised of eight high-tech R&D/flex buildings located at 29902 through 20991 Cabot Boulevard in the City of Hayward. One of the buildings was sold to another party. Conveniently located on the corner of Cabot Boulevard and West Winton Avenue, the center consists of all one-story buildings that range in size from 16,537 square feet up to 46,553 square feet. The buildings are both single and multi-tenanted and were nearly fully leased at the time of sale.  Steve Hermann and Robert Gilley of Cassidy Turley represented the seller in the sale.

Chinese Investment Group Buys Downtown Burbank Building for $22 Million in Effort to Groom Overseas Media and Entertainment Companies
Creative International Investments, Inc., a China-based investment group, has acquired a 76,698 square foot Class A office building in downtown Burbank, CA, one of the entertainment industries’ most renowned markets, for $22 million, or $286.84 per square foot. The four-story building is located at 250 E. Olive Avenue and was sold by Burbank Civic Plaza, LLC. Creative International acquired the Southern California property in an effort to provide and create smaller incubator space opportunities for China-based companies eager to learn more about the multi-media and entertainment industry from the richly experienced and talented companies located in Burbank, deemed the “Media Capital of the World.”

Lucy Lu, CEO of Creative International Investments, Inc., said, “The purchase of 250 E Olive is the gateway to entering the multi-media and entertainment industry.  The Asian-American Strategic Investment Advisors (ASIA) group at Cassidy Turley has been instrumental in making this acquisition possible.”

Tenny Tsai, a Senior Vice President with Cassidy Turley, stated, “250 E. Olive is about 91% occupied, providing strong, stable cash flow, while still lending enough vacant space to promote incubator opportunities.The majority of companies in the building are entertainment and media-oriented, fitting Creative Entertainment’s goal to directly connect Chinese companies with the more advanced creative firms based in the area. Equally important, this venture will allow U.S. companies the chance to build relationships with Chinese companies, helping bridge business and industry to and from overseas.”

Built in 2005, 250 E. Olive is the newest building in the revitalized downtown Burbank market. The building features 14,000 square feet of ground floor retail, as well as subterranean parking. The property’s downtown location also puts it within walking distance of numerous eateries, boutiques, theaters, and shops. The City of Burbank is recognized among the best performing office markets in Southern California due to its cluster of film studios. For more, visit

Creative International Investments, Inc. is comprised of multiple investors based in China. Notably, some of its members also comprise another investment group, Hanqi Investment, LLC, which just over a year ago acquired a ±105,000 square foot office building in Northern California (Burlingame), now known as Hanhai-Zibo Life Science Park, the first U.S.-China life science park in the San Francisco Bay Area. That venture was a similar bridging effort to create incubator space opportunities to help grow start-up technology companies from China.

Tenny Tsai, Danny Yu, Suzanne Lee and Jake Dederer with Cassidy Turley’s San Jose and Los Angeles offices collaborated to represent Creative International Investments in the Burbank transaction. The high-demand property received multiple purchase offers, but Cassidy Turley and the buyer pursued a strategic course of action that enabled them to ultimately win the transaction.

LBA Realty Acquires ±121,800 SF, 100% Leased Warehouse Facility in Rare Santa Clara Zoning Area
LBA Realty has acquired a 121,803 square foot warehouse/distribution facility situated on 6.6 acres in Santa Clara from Morgan Stanley Real Estate Advisors. The freestanding property is located at 2899 Mead Avenue and was 100% leased to a variety of non-traditional warehouse tenants, including sports and recreational users K1 Speed, City Beach, Pump It Up and All-Star Academy. The property is located in a rare zoning area in which the City of Santa Clara General Plan has designated as an Exception Area for Places of Assembly and Entertainment. Cassidy Turley represented both buyer and seller in the sale, with Eric Fox, Robert Gilley and Steve Hermann providing capital markets advisory and Jim Kovaleski and Craig Kovaleski of the firm providing leasing market advisory.

Investor Acquires New LKQ Best Auto Corp Facility in Dallas / Fort Worth, TX
A 1031 trade buyer has acquired the recently constructed LKQ Best Automotive Corp. distribution facility in Burleson, TX (Dallas / Forth Worth Metroplex). The facility consists of a brand new 94,000 square foot building developed for LKQ on ±72 acres of land.  LKQ will use the premises for the storage and distribution of aftermarket and recycled auto parts.  Doug Longyear, Andy Bogardus and Chris Sheldon with Cassidy Turley’s San Francisco office in collaboration with Blake Anderson in the firm’s Dallas office represented both parties in the transaction.

Importer/Exporter Buys ±105,000 SF Industrial Building in Oakland for $7.35M
An owner/user has acquired a 105,066 square foot industrial building on 3.5 acres in Oakland for $7.35 million ($70 per square foot). The property is located at 155 98thAvenue and was sold by Silvani, Silvani & Silvani, LP. The buyer will utilize the entire building for its import/export business. The property is equipped with dock and grade level doors and 12,500 square feet of office space. Jay Hagglund and Tim Schmid with Cassidy Turley represented the seller, and Kate Webster, also of Cassidy Turley, represented the buyer in the transaction.

Investor Grabs 31-Unit Apartment Complex in San Mateo for $6.55M
A private investor has acquired a 31-unit apartment complex in San Mateo, CA for $6.55 million ($211,290 per unit). The property is located at 401 East Poplar Avenue and consists of ±23,000 square feet of building space constructed in 1962. The seller was JRV Real Estate Investors, LLC. The unit mix consists of 16 1bd/1ba units and 15 studio units. The complex is located in close proximity to both Burlingame and San Mateo downtowns, three major freeways and a nearby Caltrain station. Justin Bautista and Matthew Thomson with Cassidy Turley represented the seller.

High-End Wine Cabinet Maker Buys 42,000 SF Building in Petaluma for Corporate/Manufacturing HQ
A high-end wine cabinet manufacturer making products under the names Le Cache and CellarPro has purchased a 42,000 square foot building on 3.5 acres in Petaluma for nearly $3.47 million ($83 per square foot). Located at 1445 McDowell Boulevard, the building is part of the Redwood Business Park and was sold by Sand Bay, LLC. The buyer will utilize the entire building, comprised of 50% office and 50% industrial space, for its administrative and manufacturing headquarters. Brian Foster and Steven Leonard with Cassidy Turley represented the seller in the disposition.

Woodland Motors Buys ±24.4 Acre Site in SAC Valley from Panattoni Development for Regional Dealership
Woodland Motors has purchased a ±24.36 acre site on E. Main Street in Woodland, CA (Sacramento Valley) from Panattoni Development for nearly $3.18 million. The buyer, who operates an existing regional Chevrolet/Buick/Cadillac/GMC car dealership, will be relocating that business from nearby to this new site.  Located at the freeway entrance to Woodland, the land was zoned industrial but the zoning code was recently amended to allow auto sales. Only a portion of the more than 24 acre site will be dedicated for the dealership at this time, while plans for the excess land remain undetermined. Ken Reiff with Cassidy Turley represented Panattoni in the sale.

Alan Zatopa Buys Victoria’s Secret’s 94,000 SF Call Center Property in Dayton, OH
Bay Area-based investor Alan Zatopa has acquired Victoria’s Secret’s 94,000 square foot call center in a Dayton, OH suburb. The office-designated property is located at 5959 Bigger Road in the city of Kettering, OH, and is well located along major thoroughfares and close to dense populations. The seller was Garrison Central II Oak Creek, LLC. Derik Benson and Drew Arvay with Cassidy Turley represented Zatopa in the transaction.

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):

Brian Foster, (415) 485-0500,
Derik Benson, (408) 615-3400,
Doug Longyear, (415) 781-8100,
Eric Fox, (408) 615-3400,
Jay Hagglund, (510) 465-8000,
Justin Bautista, (650) 852-1200,
Kate Webster, (510) 465-8000,
Ken Reiff, (916) 375-1500,
Steve Hermann, (415) 781-8100,
Tenny Tsai, (408) 615-3400,
Terry Daly, (415) 781-8100,

For market statistics or data, please contact:
Garrick Brown, Vice President, Research—Western US, (916) 329-1558,

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. Please visit for more information.

Cassidy Turley announced in a press release on September 22 that it has entered into an agreement with an affiliate of DTZ Investment Holdings, backed by TPG, PAG Asia Capital and Ontario Teachers’ Pension Plan (the Consortium that agreed to acquire DTZ), to sell 100% of the equity interests of Cassidy Turley. The agreement is subject to customary closing conditions and is dependent on Cassidy Turley’s combination with the operations of DTZ Group (DTZ) to create a global, full-service commercial real estate services company. The Consortium’s acquisition of DTZ is currently scheduled to close in early November 2014. The acquisition of Cassidy Turley is expected to close on December 31, 2014.

Cassidy Turley provides regional real estate services in Northern California. With 13 Northern California offices and a 400-member team, our Northern California market leadership is demonstrated by completion of over 3,950 transactions, totaling $6.0 billion in 2013.

West Coast Commercial Real Estate News