SAN FRANCISCO, CA – Apr. 9, 2015 – 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 Contracted by Basin Street Properties in Leasing Assignment of ±569,000 SF North Bay Portfolio
Basin Street Properties, a prominent Northern California real estate investor of commercial and mixed-use properties for more than 40 years, has contracted with DTZ’s Steven Leonard, Brian Foster and Trevor Buck to represent the company in the leasing of 11 office buildings totaling 568,722 square feet in Petaluma, south Sonoma County. Basin Street acquired the North Bay portfolio in February. The portfolio is broken into three projects (business centers): the Lakeville Business Park, with 205,777 square feet of space spanning five buildings; South Petaluma Business Center, a two-story Class A office building totaling 149,735 square feet and considered one of Petaluma’s finest business centers; and Petaluma Business Center, with 213,210 square feet spanning four single-story office and flex buildings.
The three business centers are conveniently located in Petaluma with ease of access to Highway 101, the area’s major transportation and commerce corridor and main artery heading south to Marin County and San Francisco and north to Santa Rosa. Each of the properties sits in well-established submarkets with numerous amenities and a solid and diverse tenant base.
Basin Street plans to invest $1 million in capital improvements for the three projects, with a focus on enhancing the tenants’ surroundings by adding to existing landscaping and upgrading heating, ventilating and air conditioning systems.
Spirent Communications Relocating Significant Silicon Valley Office to North San Jose
Spirent Communications, the leader in user experience solutions for evaluating any IP-based device or service, will be relocating its Silicon Valley office from Sunnyvale to northern San Jose. The company leased 52,297 square feet at Orchard Commons, a renovated multi-tenant project owned by Lane Partners. Spirent will occupy most of the building at 2708 Orchard Parkway. The office features the latest interior and exterior improvements to facilitate a creative and collaborative work environment. The Silicon Valley office serves as a significant location in the U.S. for Spirent, which employs more than 1,700 people who work in 33 locations in 17 countries. For more company information, visit http://www.spirent.com/. Kalil Jenab and Nick Lazzarini with DTZ represented the tenant in the transaction.
Nevro Corp. Moving Headquarters into ±50K SF Building at Bayshore Technology Park, Redwood City, CA
Nevro Corp., a medical device company, will move and expand its headquarters in Menlo Park to a 50,470 square foot building at Bayshore Technology Park in Redwood City (Redwood Shores), CA. Nevro signed a long-term lease for the entire two-story building at 1800 Bridge Parkway. The company is scheduled to take occupancy at its new mid-Peninsula location by early summer. Owned by Prudential Investors/Harvest Properties, Bayshore Technology Park is a 20-building Class A office/research and development campus located adjacent to the San Francisco Bay. The 1-million-square foot park is home to leading technology and software companies. For more information, visit http://www.bayshoretechpark.com. Mike Moran, Ben Paul and Randy Arrillaga with DTZ represented the owner.
Purcell Murray Relocating, Expanding NorCal Warehouse/Distribution Facility to 192,700 SF in Oakland
Purcell Murray Company, Inc., a distributor of the world’s finest kitchen appliance brands for more than 30 years, will relocate and expand its Northern California warehouse/distribution facility in Hayward to 192,680 square feet of space at the Edgewater Industrial Center in Oakland, CA. Purcell Murray will increase its local distribution hub by 35%. Owned by PROLOGIS, Inc., the Edgewater Industrial Center is located directly across from Interstate 880 and the Oakland Coliseum Complex and Oracle Arena, providing Purcell Murray with freeway visibility. The property also is close to Oakland International Airport. Purcell Murray operates two robust distribution hubs in California (the other hub is located in Santa Fe Springs in Southern California, providing fulfillment across the state. The company also has a local showroom in Brisbane which also offers unique culinary classes and product education classes. Sam Higgins and Matt Squires with DTZ represented the tenant in the transaction.
Nominum Relocating Headquarters into over ±25K SF at Bayshore Technology Park in Redwood City, CA
Nominum, the leader in DNS and integrated applications for service providers that drive subscriber value, is relocating its headquarters to Bayshore Technology Park in Redwood City (Redwood Shores), CA. Nominum signed a lease for 25,380 square feet of the ground floor at 800 Bridge Parkway, which it plans to occupy this spring. Owned by Prudential Investors/Harvest Properties, Bayshore Technology Park is a 20-building Class A office/research &development campus located adjacent to the San Francisco Bay. The 1-million-square foot park is home to leading technology and software companies. For more information, visit http://www.bayshoretechpark.com. Mike Moran, Ben Paul and Randy Arrillaga with DTZ represented the landlord. Moran and Kevin Waldman, also of DTZ, represented the tenant. Additionally, DTZ’s Project and Development Services team is managing Nominum’s tenant improvement project, led by Thomas Newman.
WTA Development Signs Tenant for New ±35K SF, Green Building in Sunnyvale
WTA Development has secured tenant First Data/Clover to lease an entire new research and development/office building located at 415 N. Mathilda Avenue in Sunnyvale, CA. The two-story building —currently under construction — totals 34,875 square feet, and is located in the western part of the city in the widely recognized Peery Park. Positioned approximately one mile from the Sunnyvale Caltrain station and near U.S. Highway 101 and Central Expressway, the building is scheduled to be completed in May. The building will be WTA’s second “green” building in Silicon Valley. The property will bring together the latest user-centered design and green building technologies in an elegant, responsive workspace. The building leverages many of the sustainability and productivity strategies other major corporate technology users are featuring in their headquarters. Steve Horton and Kelly Yoder with DTZ represented the landlord.
DeVry University Leases 48K SF in South San Jose for Additional Silicon Valley Campus
DeVry Education Group, Inc. has leased 48,802 square feet of space in southern San Jose, CA, for an additional DeVry University campus in the Silicon Valley market. The new campus will be located at 5883 Rue Ferrari Street within the desired Edenvale Business Park. The university is relocating and consolidating its existing locations, currently spread throughout the southern San Jose area, to create what will be its third Silicon Valley campus. Owned by SFF Realty Fund, L.P., a fund managed by PSAI Realty Partners, the Edenvale campus property is well located and easily accessible as it is near the convergence of U.S. Highway 101 and California State Route 85, providing the benefit of a reverse commute in the region. Erik Hallgrimson and Jon DeCoite with DTZ in collaboration with Mary Wadden, an independent broker, represented the landlord in the lease transaction.
Prologis Sells Rare 548K SF Industrial Portfolio in Hayward, CA
Prologis has sold a ±548,000-square-foot, two-building industrial portfolio located at 22290-22302 Hathaway Avenue in Hayward, CA. The portfolio consists of a ± 394,000-square-foot industrial/manufacturing building, plus a neighboring fully leased ±154,000-square-foot warehouse building. The new owner is planning a major renovation of the larger facility. The buildings are in a prime location, approximately one block east of Interstate 880 and 14 miles from the Port of Oakland. They are positioned adjacent to Costco. Steve Hermann, Robert Gilley, Jeff Starkovich and Sam Higgins of DTZ represented both the buyer and seller.
Mr. Hermann said, “The portfolio attracted tremendous institutional interest in being a true ‘value-add’ industrial offering, which is a rare commodity in the Bay Area.”
Founders Properties Sells Class A Office Building at Sierra Point in South San Francisco for $21.4 Million
Founders Properties has sold a 68,098-square-foot Class A office building in South San Francisco for nearly $21.4 million. The buyer was Phase 3 Real Estate Partners, Inc. Located at 4000 Shoreline Ct., the building was fully leased to multiple tech companies at the time of sale. The asset is part of a larger campus known as Sierra Point, originally developed by Opus West and positioned along the desirable Sierra Point peninsula set on the San Francisco Bay. The property has three stories of Class A office space over a single story of parking. The property features great access and visibility from U.S. Highway 101. It features on-site hotels, restaurants and a café, plus shuttle service to Caltrain and BART. Steve Hermann, Robert Gilley, Eric Fox, Mike Moran and Ben Paul with DTZ represented the seller.
KTR Acquires Eight-Building Industrial Portfolio in SSF from Alexandria Real Estate Equities
KTR Capital Partners has acquired an eight-building industrial investment portfolio, totaling 312,535 square feet, from Alexandria Real Estate Equities in South San Francisco, CA. The portfolio is spread across two area locations that collectively total more than ±12.6 acres of land. One property grouping is located on East Grand Avenue, Sylvester Road and Associated Road and the other property grouping is located in a separate part of the city on Rozzi Place and Eccles Avenue. Matt Squires with DTZ represented the buyer.
DTZ Mortgage Services Closes More Than $25 Million in Financing Deals for Client in Three NorCal Projects
Kurt Scheidt and Terry Daly with DTZ Mortgage Services closed three financing transactions (two acquisitions and one refinancing) comprised of multiple properties throughout Northern California on behalf of MKD Investments. The closings included: the $9.8 million acquisition financing of an 181,554-square-foot industrial portfolio along Patterson Pass Road in Livermore; the $8.7 million acquisition financing of a 99,562-square-foot office building as part of the Natomas Corporate Center in Sacramento; and the $6.6 million refinance for the 80,185-square-foot Woodcreek Plaza shopping center in Fairfield. Each of the transactions was a non-recourse, fixed-rate loan.
Owner/User Purchases 77K SF Industrial Building in Central San Jose, CA
Tonyco, LLC, an owner/user, has acquired a 77,026-square-foot industrial building in the central area of San Jose, CA. The seller was Intelli, LLC. The new owner will utilize the facility for its machine shop business. Located at 625 Wool Creek Drive, the property is one of two buildings comprising the Senter Road Business Park — the other ±133,000-square-foot building is currently available for lease or sale. The facility is located just north of Tully Road, between California State Routes 82 and 87 and U.S. Highway 101. Derik Benson with DTZ, in collaboration with Dave Haugh of Newmark Cornish & Carey, represented the seller in the transaction.
Mixed-Use Apartment/Retail Property Sells for $7.1 Million in Downtown San Jose, CA
A private investor/developer has acquired a mixed-use apartment and retail property in downtown San Jose, CA, for $7.1 million. Commonly known as Metro Walk Apartments, the property is located at 555 S. 2nd Street. The apartments consist of 37 studio and one bedroom/one bath units in a three-story building, plus an adjoining single-tenant retail store building. The property totals ±20,521 gross square feet of building space and was originally constructed in 1928. The complex is located in close proximity to downtown amenities, major freeways and San Jose State University. Justin Bautista 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. 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: www.dtz.com or follow us on Twitter @DTZ.