Meridian Sells New Construction 11,250 SF Dialysis Clinic in Modesto for $6.1 Million

SAN RAMON, Calif. – Meridian, a full-service real estate developer and owner of medical real estate, is pleased to announce that the company has closed escrow on the sale of its new construction, 11,250-square-foot outpatient dialysis clinic in Modesto, California. The purchase price was $6.1 million, representing a cap rate of 5.1%. The outpatient clinic is located at 1328 Coffee Road and is positioned just down the street from Sutter’s Memorial Medical Center and less than a block away from a variety of neighborhood amenities. In April 2018, Meridian acquired an infill 39,204-square-foot vacant parcel to build the Modesto dialysis clinic and completed the development in May 2019. “Modesto is seeing heightened demand for medical facilities due to rapid growth in the area. We are very pleased that our client finds value in our ability to unlock difficult off-market sites or assemblages for new development in our very land-constrained market,” [...]

2019-12-18T12:24:50-08:00December 18th, 2019|Categories: In the News|Tags: , , , |0 Comments

Kristina Wollan Joins Cushman & Wakefield as Managing Director, Investor Services

SAN FRANCISCO, Calif., October 29, 2019 – Cushman & Wakefield announced today that Kristina Wollan has joined the firm as Managing Director, Investor Services, based in San Francisco. In her new role, Wollan will be charged with ensuring the firm’s largest clients receive the highest level of client service, advisory and customized solutions across the entire platform of services, including capital markets, agency leasing, property management, valuation and advisory and construction management. “Kristina brings great experience in working closely with clients to understand their business priorities, challenges and opportunities. She will play a key role in delivering clients an integrated investor services solution, customized to maximize the value of their real estate portfolio,” said Carlo Barel di Sant’Albano, Cushman & Wakefield Chief Executive, Global Capital Markets and Investor Services. Added Wollan, “Cushman & Wakefield has built a client-first Investor Services and Capital Markets platform that is unrivaled in our industry. [...]

Woodstock Development Acquires One Bay in Burlingame, Calif. – Cushman & Wakefield Retained for Leasing Services

BURLINGAME, Calif., July 1, 2019 – Woodstock Development is pleased to announce the acquisition of One Bay in Burlingame, California. Located at 1350 Bayshore Highway, the nine-story building is approximately 196,000 square feet of Class A office space situated on 4.75 acres along the waterfront of the San Francisco Bay. The property was acquired from New York Life Real Estate Investors and Harvest Properties. Headquartered in downtown Burlingame, Woodstock Development has been active in the Peninsula and East Bay Office and Life Science markets for over 25 years. “One Bay has historically enjoyed a strong presence in the northern and mid-Peninsula markets,” said Woodstock Development’s President Kirk Syme. “The building features a timeless design while offering unobstructed panoramic Bay views that stretch as far as downtown San Francisco and across to the East Bay, and south along the Peninsula.” One Bay currently offers a 10-minute shuttle service to the BART [...]

Cushman & Wakefield Announces Sale of Self Storage Facility in Northern California’s East Bay Area

CASTRO VALLEY, Calif., January 16, 2019 – Cushman & Wakefield announced the firm has completed the sale of Lockaway Storage in Castro Valley, California, a primarily residential community in the eastern region of the San Francisco Bay Area, or East Bay. Located at 8555 Dublin Canyon Rd., the project contains 26,000 rentable square feet of storage area as well as 135 outdoor RV/boat parking spaces. The seller was a private individual based in Northern California and the buyer was Ramser Development Company based in Southern California (Orange County). Greg Wells, Senior Director of Cushman & Wakefield’s Self Storage Practice Group, represented the seller and also procured the buyer in the transaction. “Lockaway Storage – Castro Valley is a best-in-class asset located adjacent to Interstate 580 midway between Hayward and the Dublin/Pleasanton communities,” said Wells. “This strategic location has ensured the project maintains high occupancy (95%+) and will provide the buyer [...]

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 [...]

Single-Tenant Flex Building in Benicia Industrial Park Sells for $12 Million Cushman & Wakefield Represents both Parties

BENICIA, Calif., September 24, 2018 – A fully leased 63,108-square-foot flex/R&D building positioned in the Benicia Industrial Park in South Solano County, California has traded for $12 million. The single-story building located at 5500 E. 2nd St. in the city of Benicia is 100% occupied by Bio-Rad Laboratories. Sarkissian Trust acquired the property from Benicia Partners, LLC. Brooks Pedder, SIOR, Douglas Longyear, SIOR, and Tony Binswanger, SIOR of Cushman & Wakefield’s Walnut Creek and San Francisco offices represented both the buyer, with whom they’ve had a close relationship for nearly 30 years, and the seller in the transaction. Mr. Pedder, Managing Principal, Executive Managing Director in Walnut Creek, said, “This was a strong investment property leased to a longstanding, industry-leading tenant who is also one of the largest employers in the Benicia Industrial Park—the largest port-oriented industrial park in Northern California that serves home to several major companies across a [...]

Meridian Sells Dialysis Clinic In Oakland, Calif. For $15.7 Million

SAN RAMON, CALIF. – Meridian, a full-service real estate developer and owner of medical real estate, is pleased to announce that it has closed escrow on the sale of its 12,754-square-foot dialysis clinic in Oakland, California. The purchase price was $15.7 million, representing a price of $1,230+-per-square-foot or a cap rate of 5.1 percent. This is Meridian’s fifth transaction in 2018, having acquired four new buildings earlier this year and selling its 104,000-square-foot multi-tenant office building in Brisbane, California in June. The outpatient dialysis clinic is located at 4242 Broadway in Alameda County, in the North Oakland neighborhood in a busy corridor near Kaiser Permanente and Sutter Hospitals on Pill Hill. The site is also positioned within proximity to the MacArthur BART station, Interstate 580 freeway, Highway 24 and adjacent to a variety of retail services. In 2013, Meridian acquired four lots to create a 19,600-square-foot parcel for ground-up construction [...]

Whole Foods Property in Heart of Silicon Valley Fetches $55 Million

LOS ALTOS, Calif. – September 17, 2018 – A 50,451-square-foot retail property occupied by Whole Foods Market in Los Altos (Silicon Valley), California has sold for $55 Million. Imperial Hornet Developers, LLC acquired the freestanding property located at 4800 El Camino Real, one of the region’s primary thoroughfares, from Compass Grand Associates, LLC. Investment specialists Kevin Held and Matt McNeill with Cushman & Wakefield represented the buyer in the transaction. The duo worked with Ron Goldie, a Los Angeles-based attorney who specializes in acquisitions, portfolio management, and dispositions for urban core, Class A real estate for high net worth private clients, and who acted as an investment advisor in leading negotiations for the buyer. “This is an irreplaceable, single tenant asset and a generational investment opportunity in the epicenter one of the best economies in the world,” said Mr. Held, Vice President. “The property was originally developed as a prototype build to [...]

Hackman Capital Partners Expands Toe-Hold in East Bay with Purchase of 6th Building in Emeryville

(PRNewsfoto/Hackman Capital Partners, LLC) Sept. 10, ­­2018 -- Hackman Capital Partners, LLC, a Los-Angeles based real estate investment and operating company, announced today the purchase of 1300 64th Street in Emeryville, California. The property, which includes a 25,138-square-foot building and off-street parking lot, follows on the heels of the company's acquisition of a five-building portfolio, known as Emeryville Exchange, in June. Five of the now six buildings, including the recent purchase, are situated in Jelly Bean Square, which takes its name from the largest building's roots as the former Jelly Belly distribution center. The sixth building, called the Thoroughbred Building, is located approximately 10 blocks south of the square at 1250 53rd Street. "We're thrilled to be expanding our presence in this dynamic East Bay market," said Matt Landstrom, Vice President of Acquisitions for Hackman Capital. "With high demand and limited supply, Emeryville is quickly growing and evolving." According to Landstrom, the building at 1300 64th Street, [...]

Woodland Crossroads Sells for over $18 Million

WOODLAND, Calif. – August 29, 2018 – Woodland Crossroads, a grocery-anchored promotional shopping center in Woodland (Sacramento Valley), California, has sold to a private capital investment group in Southern California for $18.045 million. Originally developed in 1985 with K-Mart as its anchor, Woodland Crossroads was substantially redeveloped in 2016 as a Grocery Outlet-anchored and regionally-drawing mid-sized box promotional center. The seller was Woodland Crossroads TIC – Engstrom Properties, which was represented in the transaction by Cushman & Wakefield’s Dan Wald and Don LeBuhn (The Wald | LeBuhn Team), both Executive Managing Directors with the firm’s Retail Investment Advisors Group. The buyers, affiliates of El Tigre Holdings, were represented by the Yorba Linda office of Keller Williams. In addition to Grocery Outlet, Woodland Crossroads features key retailers Ross, Party City, Harbor Freight and Tractor Supply as well as a number of successful in-line tenants. According to Mr. Wald, “Woodland Crossroads was ideally tenanted [...]