Uber Shakes Up Oakland With Massive Purchase of Former Sears Building

  By Cory Weinberg Reporter Uber Technologies Inc. will open a large office in Oakland, taking all of the workspace in the refurbished Sears building that will open in two years, according to a source with knowledge of the deal. The deal gives Uber all 330,000 square feet of the building. Uber made the deal official Wednesday morning, announcing it bought the building from Lane Partners, the building's owner, for an undisclosed price. For Oakland, the deal may ignite a real estate market that hasn’t seen a new office building built in over a decade and hasn’t gotten a bite of the region’s huge growth in $1 billion technology companies. It could also give investors more confidence to finance the construction of thousands of residential units that developers want to build. “Oakland just changed. Wow,” Chris Foley, a land broker in San Francisco and Oakland for Polaris Pacific, said when reached by [...]

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 [...]

C&W Northern California Headquarters Wins Prestigious 2014 Design Magazine Best of Year Awards

  Design Magazine Best of Year Awards The Cushman & Wakefield Northern California HQ is a winner in the 2014 Design Magazine Best of Year Awards. presented recently in the mid sized office category. This annual award presentation had over 1000 projects submitted and there was fierce competition in our category. However, Cushman & Wakefield managed to prevail as the victors. " It’s a great honor to be chosen for this modern, collaborative and beautifully appointed space designed by our architects, Gensler," said Robin Addams, Managing Director – West Region for Cushman & Wakefield. Design features of the Market Street office include wide open spaces, glass-office fronts and expanded conference and meeting facilities that incorporate the latest in audio/visual technology. Addams also said: “In addition to having our Northern California Headquarters in this fabulously creative space, we’re also better equipped with the technology required by today’s tech-savvy clients.” Among the plethora of modern amenities, the [...]

C&W Report: Best Labor Market Since 1999

by Ken McCarthy Senior Managing Director Economic Analysis and Forecasting January 25, 2015 Best U.S. Labor Market Since 1999 The U.S. economy added 252,000 jobs in December 2014, capping the best year for the U.S. labor market since 1999. In sectors that tend to influence commercial real estate, employment growth was generally healthy. Office-using employment increased by 64,000 jobs. The unemployment rate fell to 5.6%, its lowest level since June 2008, and the underemployment rate (including discouraged and part time workers) declined to 11.2%, also its lowest level in more than five years. Despite the apparent tightening of the job market, average hourly earnings fell 0.2% ($0.05) in December, the first decline in more than three years. Job Growth The U.S. economy continued to add jobs at a robust pace in December as non-farm payroll employment increased by 252,000 jobs. The strength of labor markets was reinforced by an upward revision [...]