Legacy Partners Commercial Renames to SteelWave

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One of Bay Area’s stalwarts, Legacy Partners Commercial, has renamed to SteelWave, according to information shared on the company’s LinkedIn page. It appears that the entity is also a separate company—when reached to provide comment about the change, the Legacy employee on the phone provided a different phone number and indicated that “they” were a separate company.

Several Legacy employees have already changed their LinkedIn pages to state they work for “SteelWave (formerly Legacy Partners Commercial).”

[contextly_sidebar id=”sfHmm1ZYqHrCVUZuUUHQxB5jFrqYTTwa”]According to its Web site, Legacy Partners Commercial has a portfolio over 12 million square feet of office space space in four western states of California, Washington, Colorado and Texas. In California, the company is active in the Bay Area as well as Southern California. While most of its portfolio properties in the Bay Area are located in Silicon Valley, the company also lists 160 Spear Street in San Francisco and San Mateo Plaza at 1850 Gateway Drive in San Mateo as part of its portfolio. In the East Bay, the properties in its portfolio are the Alameda Center in Alameda, Plaza San Ramon at 2000 & 2010 Crow Canyon Place in San Ramon and Ygnacio Center at 2001 & 2033 N. Main/1990 N. California in Walnut Creek.

In February of this year, The Registry learned that the company was placing its 295,000 square foot 160 Spear Street office building in San Francisco on the market for sale. The sales price of this property is projected to be somewhere in the range of $625 to $650 per square foot or in excess of $184.3 million, according to sources familiar with the transaction.

The company has several other properties and land available for sale in Hawyard, San Jose and Fremont. One of these is the Eden Shores development, which is a new 50,000 square foot retail development located in Hayward near Interstate 880 and Highway 92.

The company’s commercial services include investment management, asset management, disposition services and marketing and leasing, among others.

SteelWave’s LinkedIn page states that the company is a full-service commercial, residential and mixed-use real estate management and operating company headquartered in Foster City, California. It goes on to say that SteelWave and its predecessor companies, Legacy Partners Commercial and Lincoln Property West, have been active in commercial real estate for 47 years and have built a reputation for successful execution in the field by sourcing investments in 5 key target markets: Northern California, Southern California, Denver, Seattle and Texas, and for financing, developing, renovating, leasing, managing and selling real estate investments on behalf of many well-known institutional clients.

Legacy Partners and SteelWave share the same address at 4000 East Third Avenue in Foster City.

Representatives of Legacy Partners and SteelWave did not return calls seeking comment.

West Coast Commercial Real Estate News