Walnut Creek, California – January 24, 2018 – Commercial real estate investment firm Robhana Group, and development & general contracting firm DCI Construction, recently held a groundbreaking ceremony for a new, 48-unit, mixed-use building and supporting parking garage at 1716 Main Street, in the Downtown area of Walnut Creek. Also participating in the groundbreaking ceremony was Walnut Creek’s Mayor, Justin Wedel (seen below). This project marks Robhana’s second major investment in Walnut Creek’s thriving Downtown.
Director of Debt & Equity, Edmund Tefft, originally sourced this trophy corner property with strong credit tenant, J. Rockcliff Realty (a subsidiary of Fidelity Title Company) on behalf of Robhana in 2015 while Douglas Manful, senior broker with J. Rockcliff Realtors, represented the property Owner. “At the time, Robhana was seeking to invest 1031 exchange funds into a quality location and property that offered stability and growth potential,” says Edmund Tefft. The purchase acquisition included surplus land and provided Robhana the opportunity to develop a high quality, mixed-use project, in a “ground zero” location of Walnut Creek. Robhana engaged local expertise to design and plan a high quality mixed-use project for this infill downtown site.
The mixed-use building is scheduled for completion in 2019. The Project was designed by world renowned, and locally based, LCA Architects and is being constructed by DCI Construction, a prominent Bay Area general contractor also based out of Walnut Creek. The project will benefit the local community with many new jobs and substantial new investment capital being introduced into the core neighborhood.
The development includes plans for 48 units, comprising of two-bedroom units, one-bedroom units and studios, as well as over 2,700 square feet of ground level commercial space. The property is within walking distance to retail giants Neiman Marcus and Apple, as well as many fine dining local restaurants. Amenities for 1716 Main Street include a rooftop Jacuzzi, sun beds, a barbecue area and an outdoor TV.
Robhana Group, Inc. is a privately held real estate investment firm that acquires, finances, develops and manages commercial real estate, including office buildings, retail centers, multifamily projects, industrial buildings and mixed-use properties throughout the Western United States, led by Robert Hanasab and Robin Hanasab. Key leadership also includes Director of Debt & Equity Edmund Tefft and Director of Leasing Chris Esparza. www.Robhana.com
DCI Construction, with experience spanning four decades serving multiple sectors of commercial construction throughout the greater Bay Area, the leadership team at DCI has established deep relationships in the industry with a reputation on delivering service and product. DCI’s headquarters are located in the heart of the Bay Area. The executive team is led by Todd DiMartino, President/CEO, and Jim Nuti, Senior Project Manager.