SAN FRANCISCO, CA – DTZ, a global leader in commercial real estate services, announces the following new assignments and lease and sale transactions originated in the firm’s Northern California offices:
DTZ Net Lease Investment Group Offers Sale of Whole Foods Investment in Marin County, CA
The Net Lease Investments Group of DTZ is pleased to exclusively offer for sale a single-tenant, net-leased Whole Foods Market in Novato (Marin County), CA. The offering consists of a 39,119± square Whole Foods Market leased for 20 years (15 years remaining) and two floors of structured parking containing approximately 199 parking spaces dedicated to Whole Foods. The property is positioned in an irreplaceable, affluent Marin County location just off U.S. Highway 101 at De Long Avenue, adjacent to downtown Novato. The property features high-quality construction and is considered a trophy net-leased investment opportunity. Andrew Bogardus, Christopher Sheldon and Douglas Longyear with DTZ in San Francisco are handling the sale of the investment offering.
Whole Foods is a supermarket chain that emphasizes “natural and organic products.” For the fiscal year ended September 28, 2014, total revenue was $14.2 billion (10% increase from fiscal 2013). For more information about Whole Foods Market, see www.WholeFoodsMarket.com.
1000 Broadway Sees Rise in Leasing Activity, Led by Major Tenant, Oakland Unified School District
Oakland Unified School District will double its occupancy at 1000 Broadway, a Class A mid-rise in Oakland, CA. The district, currently one of the building’s largest tenants, extended its term on ±52,320 square feet and leased an additional 46,375 square feet. With a total footprint on the cusp of 100,000 square feet, the district will account for nearly one-third of the building’s overall occupancy. In addition, Cal State East Bay re-affirmed its commitment to the property as it renewed and expanded its footprint for a total of 16,000 square feet. Plus, recently signed tenant, Sterling HSA, will also soon be moving in to nearly 12,000 square feet in the building. The recent successful deal activity brings 1000 Broadway to 92% leased, a significant turnaround from just two-and-a-half years ago when it struggled at roughly 75% occupancy. The property has now been owned by Sparknight, LLC for more than 30 years. John Dolby and Dane Hooks of DTZ’s Oakland office represented the owner in all listed transactions.
1000 Broadway, also referred to as Trans Pacific Centre, is a six-story, ±330,500 square foot Class A office mid-rise positioned in the heart of Oakland’s City Center. 1000 Broadway is one of the most energy efficient and green buildings of its class. It is positioned directly across from the 12th Street/Oakland City Center BART station, while two AC Transit bus stops and the free Broadway B shuttle are just steps away.
Flextronics Broadens Silicon Valley Footprint as Company Expands and Extends Term on Total of Nearly ±200,000 SF in Morgan Hill, CA
Flextronics International USA, Inc. has broadened its local footprint in the Silicon Valley with new leases that give the company an additional 40,232 square feet of space in Morgan Hill, CA. The expansion consisted of two transactions located at 18400-18420 Sutter Boulevard, a facility owned by Nika Properties II, LLC. Flextronics also signed a direct lease extension with TBI-Mission West, LLC at its 155,520 square foot state-of-the-art industrial facility at 925 Lightpost Way, also in the south county city. The company had been subleasing the property from Thomas Kinkade Co. since 2008. Flextronics currently operates several manufacturing facilities throughout North America, to include the U.S., Canada and Mexico. Flextronics’ U.S. headquarters is currently based in multiple locations in Milpitas/North San Jose. The DTZ team of Dan Hollingsworth, Steve Pace, Tom McGovern and Karen Sigl based in San Jose exclusively represent Flextronics International USA, Inc.
Headquartered in Singapore, Flextronics is a leading Electronics Manufacturing Services (EMS) provider. Flextronics employs over 200,000 people. For more information, please visit www.flextronics.com.
Cypress Semiconductor Relocates to Nearly 42K SF Along North First Street in San Jose, CA
Cypress Semiconductor has signed a long-term lease for 41,984 square feet of space at 3833 N. First Street in northern San Jose, CA. The space represents about half of the ±81,000 square foot, single-story R&D building set in the area’s Golden Triangle. Owned by Alan Zatopa, 3833 N. First features quality interior improvements, including a newly renovated lobby and a new IB Systems Roof. The property is close to VTA Light Rail and provides convenient access to California State Route 237, U.S. Highway 101, Interstate 880 and the San Jose International Airport. Cypress Semiconductor is relocating select operations—as part of the recent Cypress/Spansion merger—closer to its main campus which is located next door. Drew Arvay and Derik Benson with DTZ represented the landlord in the transaction.
Pleasanton’s Thoratec Corporation Nearly Doubles Presence in Silicon Valley
Thoratec Corporation, the world leader in mechanical circulatory support, has grown its research and development operation in the Silicon Valley. Headquartered in Pleasanton, CA, the medical device company has relocated and expanded one of its local divisions from approximately 13,000 square feet in Sunnyvale to 22,500 square feet in Fremont. The company’s new space is located at 2859 Bayview Drive within the Bayside Business Park, owned by PROLOGIS, Inc. Michael Copeland and Annie Micco with DTZ represented the tenant in the transaction.
Lumens Expands Headquarters Again in Midtown Sacramento, CA
Lumens Lights + Living, a modern lighting, furniture and accessories destination, has signed a long-term lease to again expand its headquarters in midtown Sacramento, CA. The company signed a renewal/expansion totaling 18,557 square feet at 2020 L Street, more than doubling the space the company currently uses at this location as its corporate office and back-office support. The property is owned by Pappas Trust. Lumens also operates a showroom nearby at the corner of 21st and K streets. Chad Cook, Zach Mosle and Chad Davis with DTZ in Sacramento along with Buz Miller represented the tenant in the transaction.
Redwood Electric Group Grabs 23,745 SF in Santa Clara, CA
Redwood Electric Group has leased 23,745 square feet of R&D/flex space at 881 Martin Avenue in Santa Clara, CA. Owned by Gahrahmat Family, LP, the space is part of a larger multi-tenant facility located at 801-881 Martin Avenue. The property is positioned on the corner of Martin Avenue and Lafayette Street across from Home Depot and provides convenient access to major routes including Central Expressway, U.S. Highway 101 and El Camino Real. Kalil Jenab and Dave Geissberger with DTZ represented the landlord in the transaction.
Aquantia Relocating and Expanding to Northern San Jose, CA
Aquantia, a pre-IPO semiconductor company, has signed a lease to move its Silicon Valley operation into 35,424 square feet in northern San Jose, CA. Aquantia is relocating from neighboring Milpitas to 105 E. Tasman Drive where it also will be expanding its footprint by approximately 40%. Owned by Lindsey/Jenab Family Trusts, the property is well located at the corner of E. Tasman Drive and Baypointe Parkway, in close proximity to N. First Street, California Route 237 and Interstate 880. It also provides immediate access to public transportation, including VTA Light Rail and ACE train shuttle, plus multiple amenities. Nick Lazzarini with DTZ represented the landlord in the transaction.
OnQ Solutions Relocating/Expanding Sevenfold from SF Bay Peninsula to East Bay
OnQ Solutions, which designs, produces and installs customized display solutions for major retailers and manufacturers, will be relocating and expanding its California Design Office nearly sevenfold from San Bruno to Hayward, CA. OnQ signed a lease for 27,969 square feet at 24520 Clawiter Road within the Bridgeview Technology Park. The property is owned by BioMed Realty Trust. Marc Pope and Kate Webster with DTZ represented the tenant in the transaction.
CHL Ventures Acquires 146,159 SF Industrial/Manufacturing Facility for $31 Million in North San Jose, CA
CHL Ventures, an entity of local developer Peter Pau, has acquired a 146,159 square foot industrial/manufacturing facility in northern San Jose, CA, from South Bay Development for $31 million, or $212 per square foot. The single-story building is located at 3011 N. First Street on a beautiful ±9.3 acre corner parcel and serves as the headquarters for Intermolecular, which fully leases the property. The acquisition was the upleg of a 1031 Exchange transaction by CHL. Developed in 1980 and set amidst a premier high-tech corridor, 3011 N. First Street is well positioned along North First Street near Montague Expressway, directly in front of a VTA Light Rail station. The property provides easy access to Montague Expressway, U.S. Highway 101 and Interstate 880, plus several shopping, professional, residential and entertainment amenities. Kalil Jenab and Nick Lazzarini with DTZ represented the buyer in the investment transaction.
Silicon Valley Mechanical Acquires 90,000 SF R&D Building for Expansion in Northern San Jose, CA
Silicon Valley Mechanical, an owner/user, has purchased a 90,042 square foot R&D/manufacturing facility in northern San Jose, CA, from D.R. Stephens & Company. The single-story building is located at 2115-2123 Ringwood Avenue and is part of a larger two-building business park. A local expansion for the company, Silicon Valley Mechanical will initially occupy approximately 58,000 square feet with plans to eventually expand into the entire building over the course of the next few years. Silicon Valley Mechanical also owns a nearby facility on Ringwood Avenue. Dan Hollingsworth, Steve Pace and Karen Sigl with DTZ represented the seller.
‘Best in Class’ Blackhawk Financial Center Sold in Danville, CA
Trumark Commercial, LLC has completed the sale of the Blackhawk Financial Center in Danville, CA, to Tom Signorelli of StarJ Partners, LLC. Blackhawk Financial Center is a ‘Best in Class’ office building totaling 27,648 square feet located at 4185 Blackhawk Plaza Circle. The multi-tenant, Class A building was more than 91% leased at the time of sale to a mix of professional services and technology companies including Chase Bank, Trumark Homes and Tucker Associates. The asset is well located at the corner of Crow Canyon Road and Camino Tassajara, adjacent to Blackhawk Plaza, a preeminent retail center promoting a wide variety of restaurants and retail stores. The site also provides convenient access to Interstates 680 and 580. Michael Copeland with DTZ represented both parties in the investment transaction, and has also been retained by the new owner as the exclusive leasing broker for the property.
DTZ Mortgage Services Closes $23 Million Acquisition Loan for 130,722 SF Property in North San Jose, CA
Kurt Scheidt and Terry Daly with DTZ Mortgage Services have closed on a $23 million acquisition loan for a 130,722 square foot office/R&D building in northern San Jose, CA. The DTZ team arranged a non-recourse, floating-rate loan on behalf of Seagate Properties/New York Life. Located at 2665 N. First Street at Trimble Road, the three-story, fully renovated property is located in a premier area in Silicon Valley known as the ‘Golden Triangle,’ highly regarded for its deep cluster of leading high tech companies.
WTA Development Acquires 36K SF Building in West Sunnyvale, CA, Plans Full Upgrade
WTA Development has acquired a 36,461 square foot freestanding R&D building on ±2.43 acres in Sunnyvale, CA. The seller was Cisko, LLC. Located at 360 N. Pastoria Avenue, the property sits on the west end of the city in an area commonly known as Peery Park. WTA will do a complete reposition of the building with new tech interiors with open ceilings and featuring a large enclosed indoor/outdoor amenity area. The property is positioned just off Central Expressway near the intersection of N. Mathilda Avenue, providing convenient access to California State Routes 237 and 85, and U.S. Highway 101. Downtown Sunnyvale amenities and Caltrain station are also within walking distance. Steve Horton and Kelly Yoder with DTZ represented the buyer in the transaction. Horton and Yoder, along with Jason Palda and Jim McPhee of Cushman & Wakefield who represented the seller, are now also handling the leasing of the property.
Fully Leased Oakmead Business Park Sold for $10.175 Million in Northern SF Bay Area
MKD Investments has purchased the ±76,000 square foot Oakmead Business Park in Petaluma, CA from LBA Realty for $10.175 million. The property is located at 2180-2190 S. McDowell Boulevard and is composed of two single-story industrial/flex buildings of 43,197 square feet and 32,814 square feet, respectively. The buildings were fully leased at the time of sale to multiple tenants. Located in a desirable North Bay area, the park provides direct access to Lakeville Highway (116) and U.S. Highway 101. Robert Gilley, Steve Hermann, Steven Leonard and Trevor Buck with DTZ represented the seller in the transaction.
New Walgreens Ground Lease at Alameda Station in Alameda, CA Fetches Nearly $6.3 Million
An investor has acquired the land ground leased to Walgreens for 25 years in Alameda, CA for a price nearing $6.3 million. Walgreens serves as the co-anchor of Alameda Station shopping center along with the Alameda Marketplace, an extremely popular open air market featuring 10 local and independent vendors. The property is well located at the hard corner of Park Street and Tilden Way within the historic Park Street Business District – Park Street is the primary retail and traffic corridor in downtown Alameda. Andrew Bogardus and Christopher Sheldon with DTZ’s Net Lease Services represented the seller in the transaction.
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. The company’s 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, research, consulting, and project and development management. DTZ provides property management for 1.9 billion square feet, or 171 million square meters, and facilities management for 1.3 billion square feet, or 124 million square meters. The company completed $63 billion in transaction volume globally in 2014 on behalf of institutional, corporate, government and private clients. Headquartered in Chicago, DTZ has more than 28,000 employees who operate across more than 260 offices in 50 countries and represent the company’s culture of excellence, client advocacy, integrity and collaboration. For further information, visit: http://www.dtz.com or follow us on Twitter @DTZ.