Cushman & Wakefield Co-Reps Seller in Transaction, Retained by Buyer for Leasing and Property Management
NOVATO, Calif., October 31, 2018 – Cushman & Wakefield announced the sale of Woodside Office Center, a premier, 89,457-square-foot (sf) three-story Class A suburban office property in the affluent Marin enclave of Novato. The seller was a joint venture between Artemis Real Estate Partners and Ellis Partners. The buying group was led by Mark Hutchinson and Doug Twillman of San Francisco-based Dunhill Partners West.
Whitney Strotz and Steven Leonard of Cushman & Wakefield in collaboration with Michel Seifer, Rob Hielscher, Kristina Wollan and Erik Hanson of JLL represented the seller in the transaction. Cushman & Wakefield, which previously served as the leasing broker for the project, has also been retained by Dunhill to continue providing leasing services. Strotz and Leonard will continue serving in that role and Cushman and Wakefield will also continue to provide property management services.
“We feel fortunate to have been selected as the buyer for this beautiful asset and look forward to continuing to operate Woodside to the highest quality standards,” said Hutchinson, President and CEO of Dunhill Partners West.
Located at 7250 Redwood Blvd, Woodside Office Center is 92% leased to a diverse, high-quality mix of credit tenants representing a range of industries including co-working, investment management, environmental engineering, financial services, marketing, real estate and legal. Developed in 2003, the property offers its tenants beautiful landscaping and exceptional panoramic views of the northern Marin hillsides, along with electric vehicle stations and garage parking and the conveniences of downtown Novato.
“Woodside Office Center presents a unique leasing opportunity as it is the only Class A office project within walking distance to the amenities of downtown Novato, including the future Sonoma Marin Rapid Transit (SMART) rail station,” said Strotz, who also heads Cushman & Wakefield’s North Bay office. “We currently have four vacant suites available to accommodate small and mid-size users.”
He added, “Marin remains a desirable suburban market for office users, and continues to benefit from the ongoing growth happening in the Greater Bay Area region.”
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.