Apple Dives into SoMa for First Big S.F. Real Estate Grab
SF Business Journal, July 29
The San Francisco office market may get its first big bite of Apple. Apple Inc. is rumored to have leased approximately 76,000 square feet of office space in a South of Market building located at 235 Second Street. Cushman & Wakefield’s John Lewerenz represented CBS Interactive, who is the sublessor.
Thompson Dorfman Selling Commercial, Residential Sites in Foster City
The Registry, July 19
Mill Valley-based Thompson Dorfman Partners is selling an approximately one-acre parcel entitled for 52,000 square feet of commercial development in Foster City. The company also put on the market an approximately 1.5-acre development site approved for 20 townhomes nearby at 1136 Triton Drive. Plans call for the 20 luxury Pilgrim-Triton Townhomes portion of the project to include two- and three-bedroom for-sale units and 48 parking spaces. Real estate brokerage Cushman & Wakefield, is the advisor on the offering of fee simple interest in the property with Executive Director Todd Vitzhum and Director Simon Herrmann as investment contacts.
July Data Center News
cushwakesanfrancisco, July 15
Cushman & Wakefield’s Sean Ivery provides commentary on the state of the data center industry. In the last six months, we’ve seen three acquisitions in the industry. U.S. data center provider Equinix Inc. agreed to purchase UK-based provider Telecity Group for $3.6 billion, which ended Telecity’s pursuit of Netherlands-based provider InterXion. Earlier this year, network provider Zayo Group agreed to purchase Latisys for $675 million.
Annual Cushman & Wakefield Client Golf Tournament
cushwakesanfrancisco, July 28
On July 27th, Claremont Country Club hosted the annual Cushman & Wakefield Northern California Client Golf Tournament. Located in the Rockridge neighborhood of Oakland, adjacent to the Oakland Hills and the city of Piedmont, Claremont is one of the pre-eminent private clubs in the Bay Area.
Q2 Marketbeat Office Snapshot – Sacramento
cushwakesacramento.com, July 29
Sales transactions have been steady over the past year across the Sacramento market. As prices have risen sharply in much of the Bay Area, investors are looking to markets such as Sacramento that are also recording improving fundamentals. This report was created by Cushman & Wakefield’s Richard Lin.
Inside One of SOMA’s Hottest Office Developments
biznow.com, July 17
Popular Biznow reporter Tierney Plumb was present at the recent “topping off” of 85 Bluxome, one of the hottest buildings up for lease in SoMa and one of just a handful of trophy projects around town still searching for pre-lease tenants. Ms. Plumb toured the space with developer Cyrus Sanandaji, managing director of Bluxome Partners, and David Young from Cushman & Wakefield, who’s charged with leasing the property with colleague JD Lumpkin.
Q2 Retail Marketbeat Snapshot
cushwakesanfrancisco, July 21
Retail space remains in strong demand throughout San Francisco. This has pushed the overall vacancy rate citywide to one of the lowest figures in the nation, closing the second quarter at 1.8%. Year-over-year, vacancy has dropped 60 basis points (bps) from 2.4%. This comprehensive report was created by Soany Gunawan and features insights and statistics from Vice Chairman Kazuko Morgan.
Cushman & Wakefield is a Corporate Sponsor of BOMA
BOMA San Francisco is the voice of commercial real estate in the San Francisco Bay Area. It is the most influential and effective advocacy, recruitment and training organization for the U.S. commercial real estate industry. BOMA San Francisco represents more than 72 million square feet of office space in San Francisco, San Mateo, Marin and Sonoma counties, and is federated with BOMA International and BOMA California, the voices of the commercial real estate industry in Washington, D.C. and Sacramento.
Congratulations Zach & Transamerica
cushwakesanfrancisco, July 21
Cushman & Wakefield, Northern California would like to congratulate Zach Johnson and his sponsor (and our valued client) Transamerica for an outstanding and gritty performance at the recent British Open, which took place at the hallowed golf links of St. Andrews in Scotland. A group of C&W brokers and staff watched the exciting 4 – hole playoff on the big screen at 425 Market Street.
Marketbeat Industrial Snapshot – Q2, SF Peninsula
cushwakesanfrancisco.com, July 22
Despite having not closed a deal of over 100,000 sf in Q2 2015, the industrial market on the Peninsula still managed to outpace last year’s leasing year-to-date, with 1.7 million square feet (msf), of activity, a 13.7% increase from a year ago. Palo Alto – SRP and Foster City led the market with 422,000 sf and 373,000 sf respectively. Silicon Valley Researcher James Masuda created this report.
cushwakesacramento, July 27
The new home of the NBA Sacramento Kings is a modern, urban architectural wonder. The Entertainment Sports Center (ESC) and surrounding retail and Kimpton Hotel will revitalize an entire region. Scheduled to open in October of 2016, the project spans six city blocks within the urban core of the city. As a region-wide destination for premier shopping, dining, and entertainment, the ESC is a landmark project for the city and a major catalyst for Sacramento’s rapid economic growth and development. Cushman & Wakefield’s David Scanlon is spearheading all leasing activities.
Spotlight On 3 SF Trophy Office Projects Looking for Pre-Lease Tenants
Biznow.com, July 6
Fresh Q2 figures show that S.F. tenants are swooning for 6.7M SF, with over half of that demand from tech. The new report from Cushman & Wakefield has total office vacancy dropping 8.9% to 6.4% year-over-year.
Apple Signs Two Big Santa Clara Leases in Fresh Expansion
San Jose Mercury News, July 2
Apple, in another remarkable expansion of its Silicon Valley operations, has struck a deal to lease two big buildings in Santa Clara, according to sources familiar with the transactions. “The growth and demand is robust. I have seen nothing that indicates that tech companies are pulling back. They are planning continued expansion of their operations and growth of their head count in Silicon Valley, said Jim McPhee, an executive vice president with Cushman & Wakefield.