Collective Health Moves HQ From San Mateo to San Francisco

by Mike Kirner How To Liven Up Your Lobby: "Welcome to Our Living Wall" Story by The Registry Collective Health Leases Entire 85 Bluxome Street Building Late last month, Collective Health, an enterprise health insurance software provider secured $81 million series C funding and moved quickly to secure a new home in San Francisco. According to sources with knowledge of the transaction, the new home has been confirmed at 85 Bluxome Street in San Francisco, in the city’s burgeoning Central SoMa district. The Registry was the first to break the news of the lease when they interviewed Cyrus Sanandaji, principal of Bluxome Partners, the developer. At the time, Sanandaji could only confirm that the tenant will be a healthcare company and that the building is fully leased. His firm has most recently been behind the successful redevelopment and leasing of 1045 Bryant Street, a brick [...]

MARKETBEAT Office Snapshot Q3 2015, San Francisco

by Derek Daniels Bandwidth of Tech Boom Powers SF Market Employment in San Francisco and the greater metropolitan division (San Francisco and San Mateo counties) continued to break records in Q3 2015. Non-office sectors have certainly been on the rise, with leisure & hospitality up 5.2% and construction and manufacturing up 4.8%. The real driver of the recent jobs boom, however, has been technology jobs, with computer systems design & related services (CSD) adding 12,200 positions or 20.9% year-over-year. In fact, CSD (70,500 positions) should overtake all of financial services (73,500 positions) in total job count by early 2016. Asking Rents Jump 5.2% The overall average asking rent for San Francisco jumped 5.2% in Q3 to close at a record high of $66.71 per square foot (psf), bypassing the previous record of $66.00 psf in Q4 2000. East SOMA took the crown for submarket with the highest asking rent [...]

Cushman & Wakefield Arranges Sale of Holiday Inn Express, Mill Valley, CA

Highest Per Key Price for a Holiday Inn Express Outside of New York City Cushman & Wakefield today announced that it represented ARE WCP MILL VALLEY HOTEL, LLC., in the previously announced sale of The Holiday Inn Express Mill Valley hotel, located in Marin County, just seven miles north of San Francisco. The buyer was a privately owned company based in Northern California. The transaction marked the highest per key price for a Holiday Inn Express branded hotel, outside of New York City. Central Bay Area Location Situated in one of the nation’s most vibrant, coveted and picturesque lodging markets, The Holiday Inn Express Mill Valley features many resort-style amenities. The hotel is located in immediate proximity to some of California’s most iconic attractions, including the Golden Gate Bridge, Muir Woods, Mt. Tamalpais and Sausalito. It is also positioned in the heart of The Bay Area’s most prosperous corporate demand [...]

C&W Northern California In the News – July 2015

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 [...]

C&W Northern California In the News – June, 2015

Contained herein is a collection of news media mentions for Cushman & Wakefield's Northern California region. Stories include transactions secured by several of our brokers and updates on new projects.  The media also frequently publishes data that our team has provided via research reports. June news stories featured  George Eckard, Grant Lammersen, Jeff Cushman, Mark Andersen, Kris Kolmbach, David Scanlon, Kevin Lynch, Elaine Sahlins (Welcome to our Team, Elaine!), Ron Thomas, Reza Musavi, Dave Young and Bob Kraynak. Blog comments included remarks from Laura Duffy, Diana Harms, Victoria Garcia, Pei Hua Wang, Michelle Reyes and Stefanie Hasten.          Buchanan Street Partners Spends $25 Million on Marin Office Property rentv.com, June 30 Buchanan Street Partners has acquired Rowland Plaza, a 143.4k sf office project in the Marin County city of Novato. The property was sold by a joint venture between Barker Pacific Group and Rockwood Capital for $24.9 mil ($174/sf). Grant Lammersen and George [...]

Wall Street Journal: City Living Lures Technology Firms

The Google building on 8th Ave in Manhattan. Photo: Preston Gannaway, WSJ   The Eschewing of Suburbia An interesting article recently appeared in the Wall Street Journal. Written by Eliot Brown, the story is one whose premise is not unfamiliar: Millennials continue to change the employment landscape of American cities and tech companies are leading the way in accommodating them. According to the article, especially technology companies are "eschewing suburban campuses for clusters in cities." Google in particular, is snatching up CBD office space voraciously and many of the other tech players are promptly following their lead. Urban campuses, filled with sweatshirt and jean wearing young professionals are likely to become more mainstream. Among other commercial real estate professionals, The Wall Street Journal interviewed Cushman's Executive Director J.D. Lumpkin, who advises landlords and tenants on office space in San Francisco. Lumpkin said tech companies want buildings clustered to [...]

Cushman & Wakefield Advises TIBCO Software in Biggest Sale in Palo Alto History

Stanford Research Park Campus Sells for Record Price Cushman & Wakefield's San Francisco offices recently announced that it closed on the sale-leaseback of a 292,000-square foot office / R&D campus located at 3301-3307 Hillview Avenue in Palo Alto’s Stanford Research Park. Morgan Stanley’s Prime Property Fund purchased the property in what was the largest sale transaction in Palo Alto history. Universally recognized as the birthplace of Silicon Valley, Stanford Research maintains a world-renowned reputation for an unparalleled tenant base including the most innovative technology companies as well as many of the top law and financial services firms. TIBCO Software Cushman & Wakefield marketed the property on behalf of TIBCO Software Inc., a global leader in infrastructure and business intelligence software.  Simultaneously with the closing of the sale, TIBCO signed a long term leaseback agreement with the new owner. As a definite sign of the times, the record price paid illustrates [...]

Ellis Partners Appoints C&W’s Silicon Valley Office to Lease 101 Tech

  101 Tech & Ellis Partners Ellis Partners, one of the Bay Area’s most experienced developers recently appointed Cushman & Wakefield as the leasing agent for its 961,000 square-foot campus, 101 Tech, along Orchard Parkway in North San Jose. Cushman & Wakefield’s listing team is comprised of seasoned and talented brokers. Leading all leasing activities are Jeff Cushman, Jim McPhee, Michael McMillan and Scott Dever. 101 Tech’s existing 296,000 SF newly renovated Class A office/R&D building boasts efficient floor plates and robust infrastructure for extraordinary cost savings.  It is also fully-entitled for an additional 665,000 square feet within three proposed Class A office buildings that have unparalleled freeway visibility from Highways 101 and 87.   101 Tech Video: Now Live on YouTube and Vimeo “Across the Bay Area, Ellis Partners has enjoyed great success with Cushman & Wakefield in leasing several of its Bay Area assets. Now that we’ve completed the renovation [...]

C&W Named Exclusive Leasing & Property Management Company for The Towers Emeryville

815,000 Square Feet of Office and Retail Space in Three Class A High Rise Buildings February 11, 2015 KBS and C&W Team Up KBS Real Estate Investment Trust III (KBS REIT III), a real estate investment trust based in Newport Beach, California has awarded Cushman & Wakefield the exclusive leasing and property management contracts for The Towers in Emeryville, California, located on Emeryville’s prestigious waterfront. Spearheading all leasing efforts for the 815,000-square-foot project are a seasoned C&W brokerage team led by Ryan Hattersley, Daniel Bisabri, Elisa Konik and Zach Siegel. “We are incredibly excited to be working together with KBS on The Towers, Emeryville’s premiere office project. KBS plans to make significant improvements to the project and to construct spec suites that are unmatched in quality in the entire East Bay market. This will allow our Tenants to elevate their businesses to the next level. We think there is significant demand [...]

Cushman & Wakefield Future Leaders Holds 9th Annual Broker Bowl-a-Thon: A Benefit for Habitat for Humanity

Cushman's Mary Davis and Sam Wasserstein with CEO of Habitat for Humanity Greater San Francisco, Phil Kilbridge - PHOTO: Miles Garnier   Cushman & Wakefield Future Leaders Originating in San Francisco in 2006, the Cushman & Wakefield Future Leaders (CWFL) Annual Broker Bowl-A-Thon took place at The Presidio Bowl on Thursday, November 13th, 2014. Since its inception nine years ago, this iconic fundraiser benefitting Habitat for Humanity Greater San Francisco is considered a staple in the Bay Area commercial real estate community. In 2014, Cushman & Wakefield's goal was to surpass last year’s figures of $62,000 raised. Including the 2014 event, which raised $75,000, the Bowl-A-Thon has reached an aggregate amount of $437,000, which is donated directly to Habitat’s local Bay Area chapter. The annual CWFL Broker Bowl-A-Thon unites the highly competitive local commercial real estate community together for an evening of bowling, camaraderie, fierce competition and community [...]