DCT Starts $15MM Industrial Development in San Leandro

By Jon Peterson Denver-based DCT Industrial Trust is planning to invest a total of $15 million for the development of a 75,000 square foot industrial property in San Leandro, according to sources familiar with the project. The site is located at 2001 Williams Drive and covers 3.6 acres of land. DCT declined to comment on the amount it planned to invest in the project when contacted for this story. The development of this project was just started. “We have begun the process of scraping off the pavement of the surface parking lot. Our expectation is that the development of this property should be completed by around March of 2018. This depends on how much rain the area gets over the winter,” says David Haugen, a senior vice president with DCT. He works out of the company’s regional office in Emeryville and is responsible for the company’s investment and development efforts [...]

2017-09-25T10:58:13+00:00 September 16th, 2017|Categories: In the News|0 Comments

Chinese Investors Change Focus In Wake Of New Government Regulations

By Julie Litman With China’s government clamping down on outbound investment, Chinese investment in U.S. commercial real estate assets is down significantly so far this year. Instead of directly investing in real estate, many Chinese investors are turning toward tech and biotech and investing in incubators, according to Xinyi McKinny, Cushman & Wakefield senior managing director of China direct investment for the San Francisco Bay Area and Los Angeles. R&D facilities and incubator spaces will receive additional capital allocation as these types of investments are supported by the government. Investments that lead to the export of China's technology and equipment, improve the country's research and manufacturing and improve energy and resources are highly encouraged by the government. Commercial real estate investments, on the other hand, will be restricted. Chinese investment into the U.S. already has declined significantly and will not likely reach the same levels as 2016. During the [...]

2017-09-25T10:52:14+00:00 September 10th, 2017|Categories: In the News|0 Comments

Delta Dental Signs 7 Year Lease for HQ

  Delta Dental of California is moving its San Francisco headquarters across the street. The insurer signed a seven-year lease for 43,400 square feet in the JP Morgan Chase Building at 560 Mission St. after 30 years in its current headquarters at 100 First St. The new deal comes on the heels of Delta Dental taking 82,000 square feet in downtown Oakland. “Our new San Francisco office affords us the opportunity to use space more efficiently,” said Tonia Leonardos, facilities director for Delta Dental. Delta Dental’s new landlord is Houston-based Hines, which developed the 31-story, 667,782-square-foot 560 Mission St. in 2002. The company leased space on the 12th and 13th floors of the tower. With the two new deals, Delta Dental will have a smaller footprint than the 188,000 square feet it occupies in 100 First St.   The insurer hired Mark McGranahan of Cushman and Wakefield and law [...]

2017-09-25T10:25:18+00:00 August 24th, 2017|Categories: In the News|0 Comments

Airbnb Inks Largest Office Lease of the Year in San Francisco

Aug 2, 2017 Blanca Torres Airbnb inked the largest office lease so far this year in San Francisco with a 287,000 square-foot, nine-year deal to occupy space in Zynga’s headquarters at 650 Townsend St. The vacation rentals company confirmed the deal Wednesday after months of speculation. Zynga's San Francisco headquarters. "Airbnb got started a few blocks away and we’re grateful to be growing quickly and investing in the SoMa neighborhood," said Mattie Zazueta, a company spokesperson. "The new space will help accommodate our employees as we grow.” With the new lease, Airbnb will occupy more than 600,000 square feet in Showplace Square, an area of SoMa once dominated by furniture showrooms and jewelry wholesalers. Airbnb plans to move into the new office in 2019. The company recently expanded into 999 Brannan St., where it leased 150,000 square feet last year. Airbnb also occupies about 170,000 [...]

2017-09-25T11:14:34+00:00 August 15th, 2017|Categories: In the News|0 Comments

Rhonda Diaz-Caldewey Interviewed by Allen Matkins: Retail is Far from Dead

        California’s commercial real estate markets could slow down in the coming years. The latest Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate Survey revealed an ebbing of market optimism from developers. The survey gives an outlook for the next three years in California’s commercial real estate industry and details opportunities and challenges in office, multifamily, retail and industrial. In virtually every market in California, panelists see 2020 as worse than today, and this comes on top of the recent increase in vacancies. In the Bay Area, a little over a third of the panelists did some retail development last year and just over half are planning on developing some this year. In Southern California, 40 percent of retail developers are opting not to start a new project in the coming 12 months. The few retail development projects planned will most likely be redeveloping existing space [...]

2017-09-25T13:11:42+00:00 August 12th, 2017|Categories: In the News|0 Comments

Jackson Square is Hot Again

Construction workers at the site for a condominium complex developed by Grosvenor Americas Inc. at 288 Pacific Ave., in the Jackson Square area of San Francisco. It’s the first residential development in the neighborhood in a decade.   by J.K. Dineen - Photo: Nicole Boliaux A new retail cluster has sprung up in the city’s oldest commercial district: Gold Rush-era Jackson Square, with its red brick buildings and skinny alleyways. Over its 165-year history Jackson Square has housed warehouses, artists’ studios, interior design wholesalers, antique and rare map dealers, and dot-coms. Beneath its streets lie the hulls of junked ships, and the windows along the north side of Jackson Street are adorned with cast iron shutters to protect against the next big fire. But during the past 18 months, the neighborhood has been discovered by a collection of stores looking not only for more affordable rents than [...]

2017-08-15T15:59:00+00:00 August 10th, 2017|Categories: In the News|0 Comments

Tech 1.0 Article Featured in Forbes

By Jon Banister   Tech entrepreneurs looking to launch new startups outside of the Bay Area may want to look harder at Washington, D.C. The nation's capital ranked as the No. 3 tech city in the U.S. in Cushman & Wakefield's Tech Cities 1.0 report, coming in behind San Jose and San Francisco. Boston/Cambridge and Raleigh/Durham/Chapel Hill rounded out the top five. Cushman & Wakefield Principal Economist Ken McCarthy and researcher Robert Sammons spent six months putting together the firm's inaugural tech report, which analyzed factors such as talent, capital and growth opportunity. The report also considered the region surrounding the cities, so D.C. benefited from biotech hubs in suburban Maryland and NoVa's defense, cybersecurity and aerospace industries. D.C. was propelled by its educated workforce, top universities and the presence of the federal government, Cushman & Wakefield Director Theo Slagle said. "It’s a combination of a healthy local economy coupled with a highly [...]

2017-06-27T16:19:11+00:00 June 27th, 2017|Categories: In the News|0 Comments

Southern Marin Real Estate: Office Rents Rise Fast as Space Availability Falls

by Whitney Strotz If it is great, businesses want it. At least that is true for quality office space in southern and central Marin. Throughout the area, quality office space continues to be in high demand. Three different office suites in Marin County experienced bidding wars — competitive offers for the same space — this past quarter. It has been important for companies to have advisers who understand this dynamic market to provide the information and support needed to react in this marketplace. Rental rates continue to be at the higher end of historical North Bay averages but are below the average rates in San Francisco and well below the highest Peninsula levels. Rates in premium south-central Marin office projects are about $4.50–low $6 a square foot per month on a full-service basis, compared with the low $6 San Francisco average. The local market has experienced several years of [...]

Oakland Lands Blue Shield Headquarters and 1,200 Workers

by George Avalos   OAKLAND — Blue Shield of California has agreed to move its headquarters and 1,200 workers to Oakland, the nonprofit health plan said Wednesday, a move that will help it escape fast-rising office rents at its current location in San Francisco. Blue Shield’s move represents the largest relocation of an office tenant from San Francisco to Oakland in at least 30 years. The health care company will move to the City Center complex in downtown Oakland. “This is huge for Oakland,” Mayor Libby Schaaf said Wednesday in an interview with this newspaper. “It’s an amazing time for Oakland. We are seeing unprecedented levels of revitalization and investment in Oakland.” The health care company is leasing a third of the space in the 600,000-square-foot, 24-story 601 City Center building. The office tower is being developed by a joint venture of Shorenstein Realty Services and MetLife. “After extensive evaluation, we believe [...]

2017-03-09T13:13:00+00:00 March 9th, 2017|Categories: In the News|Tags: , , , , , |0 Comments

Developer Buys Peninsula Office Building and Fully Leases to Tech Firm

by Roland Li, San Francisco Business Times Harvest Properties and LaSalle Investment Management have purchased a vacant office and R&D building in Foster City and immediately leased the entire building to a tech firm. The price for the 126,345-square-foot property at 1149 Chess Drive was about $35.3 million, or $280 per square foot. The sellers were Whitney Investments and Woodstock Development. The 1975 building is currently fully vacant, but during the sales process, a tech firm signed an 11-year lease for the entire building, said Joss Hanna, partner at Harvest Properties. A source familiar with the deal said the tenant focuses on artificial intelligence and robotics. The asking rent was about $36 per square foot. The building is undergoing a renovation that include a new entrance and landscaping. The property is zoned for both light industrial and office uses. "It's going to be truly transformative to an industrial building," [...]

2017-03-13T15:22:48+00:00 March 8th, 2017|Categories: In the News|Tags: , , , |0 Comments