Southern Marin Real Estate: Office Rents Rise Fast as Space Availability Falls

by Whitney Strotz If it is great, businesses want it. At least that is true for quality office space in southern and central Marin. Throughout the area, quality office space continues to be in high demand. Three different office suites in Marin County experienced bidding wars — competitive offers for the same space — this past quarter. It has been important for companies to have advisers who understand this dynamic market to provide the information and support needed to react in this marketplace. Rental rates continue to be at the higher end of historical North Bay averages but are below the average rates in San Francisco and well below the highest Peninsula levels. Rates in premium south-central Marin office projects are about $4.50–low $6 a square foot per month on a full-service basis, compared with the low $6 San Francisco average. The local market has experienced several years of [...]

Oakland Lands Blue Shield Headquarters and 1,200 Workers

by George Avalos   OAKLAND — Blue Shield of California has agreed to move its headquarters and 1,200 workers to Oakland, the nonprofit health plan said Wednesday, a move that will help it escape fast-rising office rents at its current location in San Francisco. Blue Shield’s move represents the largest relocation of an office tenant from San Francisco to Oakland in at least 30 years. The health care company will move to the City Center complex in downtown Oakland. “This is huge for Oakland,” Mayor Libby Schaaf said Wednesday in an interview with this newspaper. “It’s an amazing time for Oakland. We are seeing unprecedented levels of revitalization and investment in Oakland.” The health care company is leasing a third of the space in the 600,000-square-foot, 24-story 601 City Center building. The office tower is being developed by a joint venture of Shorenstein Realty Services and MetLife. “After extensive evaluation, we believe [...]

2017-03-09T13:13:00+00:00 March 9th, 2017|Categories: In the News|Tags: , , , , , |0 Comments

10th Annual Broker Bowl-A-Thon – November 19, 2015

by Mike Kirner This is How We Rolled: $63,000 Raised for Habitat for Humanity One of the year's most talked about, anticipated and cool charitable events took place on Thursday, November 19th at 6:00 pm at the Presidio Bowl in San Francisco. The 10th annual CWFL (Cushman & Wakefield Future Leaders) Charity Bowl-A-Thon benefiting Habitat for Humanity Greater San Francisco was attended by well over 200 people from all corners of the Bay Area. C&W's Amanda Murray, Habitat for Humanity's CEO Kris Leja and C&W's Dan Johnson The CWFL Charity Bowl - A - Thon is an over the top, awesome night of bowling, networking and mingling  with commercial real estate professionals, friends and clients.  Cushman & Wakefield San Francisco’s office raised $63,000 for this year's event. Since 2006, CWFL has raised over $500,000 for Habitat for Humanity Greater San Francisco. According to Amanda Murray, Platform Manager [...]

Cushman & Wakefield is Exclusive Real Estate Sponsor of TechCrunch Disrupt

  TechCrunch Disrupt San Francisco Sept 21 - 23 - Pier 70 As we were in 2014, Cushman & Wakefield was again a major force at TechCrunch Disrupt SF 2015, which began Monday, September 21st and ended September 23rd. We were the exclusive real estate sponsor for this annual event, which takes place in major cities across the globe. This homage to technology, innovation and creativity is dedicated to profiling startups, reviewing new internet products and breaking tech news. A battalion of over 50 Cushman & Wakefield volunteers, staff and clients was in attendance for what is arguably one of the most prominent technology events of the year. This year's event featured nearly 5,000 conference attendees, hundreds of hackers, over 400 exhibitors & sponsors and a diverse selection of interesting speakers. The annual conference began in 2011 and is hosted by TechCrunch in cities throughout the US and Europe. TechCrunch Disrupt typically attracts considerable media cove [...]

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 [...]

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 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 [...]

SF Could Hit Developers with New Fees to Keep Nonprofits from Fleeing

The view from Howard Street looking east at a proposed 5M high-rise December 12, 2014 Non Profits Splitting Town A San Francisco Business Times article recently revealed a rather interesting statistic: Approximately a quarter of the nonprofits in the City packed their bags and left town between 2011 and 2013. Business Times reporter Cory Weinberg interviewed Steven Wertheim, Project Manager at the San Francisco Planning Department, Peter Cohen, Co-Director of the Council of Community Housing Organizations and Cushman & Wakefield's Research Director Robert Sammons to get their insights on this trend. Among other things, Sammons said developers already feel the squeeze from the annual Prop. M office space cap, which could delay new projects starting in 2015. New fees would be a “slippery slope” to making office projects unfeasible, he said. Peter Cohen's take on the situation is that he feels we are in the midst of  "a serious problem in the central city [...]

Silicon Valley 3rd Quarter Market Office Beat

October 1, 2014 by Sethena Leiker Senior Analyst, Silicon Valley Economic Overview The Silicon Valley benefited from steady employment gains through the third quarter, further strengthening the local economy. The tech sector continued to fuel the local expanding employment base by adding 10,700 jobs over the last year, 2,100 added during the third quarter according to Moody’s Analytics. The manufacturing industry added jobs, albeit at a much slower clip: the employment base expanded by 2.7% over the last year, representing 4,200 new jobs. New Development Secures Largest Leases The Silicon Valley industrial market is advancing on all fronts. Leasing activity was strong through the first three quarters, with a total of 10.3 million square feet (msf) leased, 23.2% more than a year ago and if the current momentum is carried through the fourth quarter, leasing figures are poised to be the highest since 2007. Demand for high tech space is on par with the third quarter of last year at 5.4 msf [...]

C&W Northern California Headquarters: Minimalism Meets Modernism

425 Market Street: Floor 23 Cushman & Wakefield's Northern California headquarters are located in the epicenter of the Financial District at 425 Market Street, Suite 2300 in San Francisco. Within convenient proximity to SOMA, Union Square, The Transbay Transit Center and Salesforce Tower, we are situated next door to 50 Fremont Street, approximately seven blocks from the iconic Transamerica Pyramid and walking distance to the San Francisco Ferry Building. Design Winner 2014: Minimalism Meets Modernism The 27,000-square-foot state-of-the-art office, designed by Gensler and constructed by BCCI Builders, won the 2014 Interior Design Best of Year Awards. According to JD Lumpkin, Managing Principal, “As advisors to some of the Bay Area’s most notable technology, finance, professional services and other companies, we have created a workspace designed around our commitment to communication and collaboration. We’re extremely proud of our work environment, which is just the latest component of our ongoing efforts to develop solutions [...]