Napa Square Introduces ‘Executive Suite’ Concept to Napa Valley – Cushman & Wakefield Heads Project Leasing Effort

Cushman & Wakefield Heads Project Leasing Effort, Foresees Success of Executive Suite Concept Ahead NAPA, Calif., March 25, 2019 – Cushman & Wakefield announced today that Napa Square, a premier office building located at 1455 First Street in downtown Napa, has introduced a brand new executive suite concept to the marketplace. Situated on the second floor of the 3-story building, the new offices are being offered to individuals or groups on a monthly or longer-term rental basis. Cushman & Wakefield’s Margaret Duskin and Bo Harkins are heading the leasing efforts for the property which is positioned in one of the world’s most popular wine and culinary destinations. Duskin said, “Our executive workspaces offer entrepreneurs, employees and employers alike greater flexibility, connectivity, and convenience both in terms of location and function.” She added, “Major nearby corporate hubs like San Francisco and Oakland already have extensive executive suites, and coworking concepts (such [...]

Big Tech Boosts East Bay/Oakland Office Activity in Q4 2018 – Bright Outlook for 2019

Demand Expected to Pace with 2019 Deliveries Variety of New Deals Supporting Growth, Rents Continue Climbing OAKLAND, Calif., February 1, 2019 – The East Bay/Oakland office market received a big boost from “big tech” in the fourth quarter of 2018, according to Cushman & Wakefield’s recent Q4 2018 market report. Mobile payment company Square’s lease for 355,762 sf at Uptown Station, currently under renovation, in Oakland’s CBD Lake Merritt submarket, helped propel leasing activity in the year’s final period. Meanwhile, vacancy returned to single digits to close 2018 at 9.7%. Molly Herrick, Cushman & Wakefield’s Market Director for the East Bay, said, “Leasing activity ramped up in the fourth quarter driven by Square, one of the largest office deals ever in Oakland’s history. The East Bay/Oakland office market achieved more than 1 msf of gross absorption during the quarter which made up 40% of the market’s total 2.5 msf of [...]

SF Bay Area Life Sciences Vacancy Tight, Rent Growth Strong, with Remarkable Pre-Leasing Activity – Conversion Trend on the Rise to Support Demand

BURLINGAME/OAKLAND, Calif., January 31, 2019 – Increased investment and employment in the life sciences sector has driven life sciences related real estate to new heights, according to Cushman & Wakefield’s new report, Life Science: Great Promise & Rapid Growth. The research provides a big-picture overview of the life sciences sector and its impact on commercial real estate as well as more granular insights into 13 top life sciences markets in the U.S. and Canada. Thanks to an influx of venture capital as well as billions of dollars in funding from the National Institute of Health, the life sciences sector has grown nearly five times as fast as the economy since 2000, adding 85,000 jobs, with roughly 70% of that job growth (61,000) in the past eight years. This is primarily a response to an aging population with increased longevity. By 2030, there will be 73 million Americans aged 65 or [...]

Burlingame Point Finalizes Lease with Facebook for 803,000 SF Campus

Photo Credit: Doug and Wolf BURLINGAME, Calif., January 15, 2019 – Cushman & Wakefield announced today that Burlingame Point, a brand new approximately 803,000-square-foot (sf) office campus currently under construction in Burlingame, California, has finalized an agreement with Facebook to lease the entire project. Situated on 18.13 acres on the edge of the San Francisco Bay, Burlingame Point is a best in class office development by Kylli, a wholly-owned subsidiary of China-based Genzon Investment Group Co., Ltd. Facebook first publicly announced the lease was in negotiations to the City of Burlingame Planning Commission in August and the lease was fully executed shortly thereafter in the fourth quarter of 2018. Mike Moran and Clarke Funkhouser of Cushman & Wakefield represented Kylli in the transaction. JLL represented the tenant. Moran said, “We couldn’t be more excited that one of the world’s leading technology firms has selected Burlingame Point to expand [...]

2018 a Record-Setting Year to Remember for San Francisco Office Market

Year Ends with More Large Tech Deals, Positive Trends, but Supply Could Impact Growth Ahead SAN FRANCISCO, Calif. – January 10, 2019 – 2018 was a year for the San Francisco history books, according to Cushman & Wakefield’s year-end office market report. The firm’s quarterly publication revealed San Francisco produced a number of records this past year in the dominant office sector, including record high rents and new construction deliveries. In addition, vacancy reached a three-year low, while tenant requirements (demand) held strong. Also favorable to the market’s economic stamina, the most recent San Francisco metropolitan division (San Francisco and San Mateo counties) unemployment rate was a minimal 2.2%, dropping even further below the year ago figure of 2.6%. Year-over-year (YOY) total private sector jobs increased by 2.0% to 1,023,600 while office using positions increased 2.5% to 397,400. Overall San Francisco office market vacancy closed 2018 at just 6.4%, with [...]

Cushman & Wakefield Bolsters Tenant Rep Services in Bay Area with Hiring of Matt Chatham, Aaron Wright and Hope Keaney

SAN FRANCISCO, Calif., December 3, 2018 – Cushman & Wakefield announced today the addition of three Tenant Representation specialists in Northern California. Veteran brokers Matt Chatham and Aaron Wright have joined the firm as Executive Managing Directors, and Hope Keaney has joined as an Associate Director. All three professionals will be based in the firm’s San Francisco office and will focus on servicing clients regionally across the Bay Area and nationally. Along with his brokerage role, Chatham will also serve as Cushman & Wakefield’s Tenant Representation Lead for San Francisco. “It is with distinct pleasure that we have hired these very talented services providers, each possessing deep experience, focused discipline and work ethic and strong, sustained client relationships,” said Mike Smith, Cushman & Wakefield’s Managing Principal for the Northwest Region based in San Francisco. “As top tenant representative brokers, Chatham and Wright are individually recognized for their accomplishments in negotiating complex [...]

North Bay’s Woodside Office Center Sells to Dunhill Partners

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 [...]

NorthBay Logistics Center Signs First Tenant – Serena & Lily to Occupy 434,000 SF

VACAVILLE, Calif., September 21, 2018 – NorthBay Logistics Center has signed its first tenant, Serena & Lily. The nationwide furniture and home goods retailer will occupy 434,000 square feet of warehouse and office space, beginning February 2019. The building is located at 700 Crocker Drive, in Vacaville, California. This is the first lease transaction to occur since LDK Ventures and PCCP, LLC acquired the warehouse project together in October 2017. NorthBay Logistics Center consists of 840,000 total square feet of warehouse space on 70 acres, with ample truck staging and dock loading positions and visibility from Highway 505. “We are thrilled to welcome such a well-established brand as Serena & Lily to NorthBay Logistics Center, as its first tenant,” said Denton Kelley of LDK Ventures. “It’s a pleasure to do business with and in the City of Vacaville. The center’s proximity to critical transportation hubs such as ports and international [...]

Restaurateur Buys Downtown Danville Property for New Restaurant Opening, Cocina Hermanas

DANVILLE, Calif. – September 13, 2018 – A well located, high identity retail/restaurant property in downtown Danville, California located at 501 Hartz Ave. at Church St. has sold for $2.45 million. Cameron Baird of Cushman & Wakefield arranged the off-market acquisition of both the building and the business that was known as Basil Leaf Café for the buyer, Darren Matte, the owner of the acclaimed Per Diem in San Francisco and Harvest restaurant in Danville. The business was sold separately from the property. The seller was Genesis Holdings LLC and HJB Restaurant Group Inc., which was self-represented in the negotiations. Mr. Baird said, “Mr. Matte is an active member of the Alamo/Danville community and saw an opportunity to offer a greater selection of great food and hospitality to his neighbors and downtown shoppers. He will rebrand and remodel the location which will be named Cocina Hermanas after his three daughters.” Mr. Matte’s [...]