Wedbush Securities, Salmon-Felte Insurance and Financial Services, TeamLogic IT and Pinnacle Abrasives Join Existing Tenants
SANTA ROSA, Calif., Apr. 17, 2013 – Basin Street Properties, a prominent Northern California and Northern Nevada real estate investor and developer of commercial and mixed-use properties, has signed four new leases at Santa Rosa’s Waterfall Towers. The three-building office complex is one of the 17 properties in Santa Rosa acquired from Equity Office Properties last year, all of which had been previously owned, managed or developed by Basin Street.
“Having purchased 25 buildings in Santa Rosa and Petaluma over the past three years, the North Bay is clearly an area we see as thriving and a place where we can provide tenants a variety of options for their current and long term real estate needs,” said Scott Stranzl, vice president of leasing for Basin Street Properties. “Waterfall Towers really is a conveniently located, picturesque property and we are thrilled to have it, and the others, back in our portfolio. We look forward to the continued opportunities they will present to our existing and future tenants.”
Basin Street is represented by Barry Palma of Cornish & Carey in leasing Waterfall Towers. New tenants include the following:
- Wedbush Securities, one of the largest securities firms and investment banks in the nation, signed a lease to occupy 4,337 square feet of space for an approximately 7 1/2 year term.
- Salmon-Felte Insurance and Financial Services, an insurance and financial management company, will occupy 1,738 square feet of space for an approximately 5 1/2 year lease term.
- TeamLogic IT, a company providing comprehensive computer repair services and computer networking solutions, signed a lease for a 1,403 square foot space for a 4 1/2 year term.
- Pinnacle Abrasives, a supplier of industrial diamonds and cubic boron nitride (CBN) materials for cutting, grinding and polishing tool manufactures, signed a 2 1/2 year lease for 1,133 square feet of space.
“The number one reason we chose to relocate our office space from downtown to Waterfall Towers was convenience. The location and ample parking is ideal for our clients and employees, and everyone enjoys the scenic surroundings,” said Darryl David, senior vice president and division manager of private client services for Wedbush Securities. “Basin Street bent over backwards to accommodate all of our needs, including build outs to the space to incorporate more private offices.”
Waterfall Towers is a 95,056 square foot office complex, situated on six acres overlooking the hills of Santa Rosa. The property boasts an attractive and well maintained exterior and offers tenants a park-like setting complete with a lake and fountain. Waterfall Towers also enjoys convenient access to Highways 12 and 101, as well as to local amenities such as the Montgomery Village Shopping Center and nearby downtown Santa Rosa.
Basin Street’s new tenants will be eligible to participate in the company’s Tenant Advantage Program (TAP) that was launched last year. The program offers exclusive discounts and promotions – typically 10 to 20 percent off retail goods and services – within Basin Street’s retail, residential and hospitality properties, as well as at partnering businesses. There is no cost to participate in TAP and the program extends to all tenants and retailers where the company owns property.
About Basin Street Properties
Basin Street Properties is a prominent Northern Nevada and Northern California developer, investor and manager of commercial properties. Basin Street has become widely recognized for its office, retail and mixed use developments. Founded 37 years ago, the company offers a broad range of real estate services, including development, property management, construction management, financial and asset management, and property acquisition and disposition. For more information, visit www.basin-street.com.