NAIOP San Francisco Bay Area Chapter Announces Best of The Bay Commercial Real Estate Honorees

Awards Given at Four Seasons/San Francisco Gala Dinner

SAN FRANCISCO, March 14, 2013 – NAIOP, the Commercial Real Estate Development Association, San Francisco Bay Area Chapter (NAIOP), awarded seven categories of awards at its first annual Best of the Bay dinner at the Four Seasons/San Francisco.

“The award criterion in each category was based on the following: size and scope; complexity and creativity, courage (visionary or countercyclical) and tenacity, market impact, potential benefits to surrounding community (investments); size and location, net absorption and job creation (leases); and successful execution, high quality, sustainable and modern design, uniquely innovative vision that improves the surrounding market and meets tenant needs (development),” said Lauren Pressman, chapter president. “As the nation’s leading commercial real estate development association, NAIOP is honored to recognize the projects that were truly the Best of the Bay in the San Francisco Bay Area market last year.”

The categories and winners are as follows:

Investment Transaction – San Francisco

1275 Market Street, San Francisco

•       16-story, 354,244 sf office building

Key Transaction Facts:
•       Purchased vacant in 2011 for $44 million ($115psf)
•       Purchased by Dolby Laboratories for approximately $109.8 million ($310 psf)

Investment Transaction – Peninsula

Informatica Corporation — 2000-2100 Seaport Boulevard, Redwood City

•       The buildings are four stories each, one with 141,000 square feet and the other with 148,000 square feet

Key Transaction Facts:
•       Off market transaction that brought substantial vacancy/lease roll out of the market

Investment Transaction – East Bay

Swift Corporate – 2000/2001 Clayton Road, Concord

•       Fully leased to Bank of America through 2018
•       Remaining two buildings partially leased to Bank America on shorter term leases

Key Transaction Facts:
•       600,000 sf Class A office building

Lease Transaction – San Francisco – 350 Mission, San Francisco

•       Site was fully entitled for 400,000 sf LEED Platinum building consisting of 27 stories

Key Transaction Facts:
• will likely house 2,000 to 2,250 employees
•       Ground breaking scheduled for Q1 2013
•       Completion is scheduled for Q1 2015

Lease Transaction – Peninsula

SuccessFactors, South San Francisco

•       Success Factors, a subsidiary of SAP, relocated from San Mateo and is the first tenant in the building
•       The building was developed and still owned by a joint venture of Stockbridge Capital Group and Myers Development Company in 2008 and this was the first lease signed at the property
•       The property was chosen  by the tenant due to its strategic location, building amenities and new construction

Key Transaction Facts:
•       90,000 sf lease in the top three floors at Centennial Towers One – the largest office lease on the Peninsula in 2012

Lease Transaction – East Bay

Office Depot — 6700 Auto Mall Parkway, Fremont

•       Largest  2012 Class A industrial lease in the East Bay in terms of square footage
•       Largest facility in Prologis Bay Area Portfolio
•       High image facility with large national company

Key Transaction Facts
•       467,000 square feet
•       5 year lease renewal by Prologis

Development of the Year

680 Folsom, San Francisco

•       521,610 square feet, LEED Gold upon completion with state of the art improvements and structure

Key Transaction Facts
•       Pre-sold to Boston Properties
•       88% pre-leased

About NAIOP San Francisco Bay Area Chapter
NAIOP San Francisco Bay Area Chapter is a chapter of NAIOP, the Commercial Real Estate Development Association, serving eight of the nine counties in the San Francisco Bay Area market.  NAIOP is the leading organization for developers, owners and related professionals in office, industrial and mixed-use real estate, with 18,000 members in North America.  NAIOP advances responsible commercial real estate development and advocates for effective public policy.  For more information, visit

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