Cushman & Wakefield Advises Sale of 40-Acre Site in Petaluma for $20.1 Million for New Planned Development

PETALUMA, Calif., June 19, 2019 – Cushman & Wakefield announced today that the firm has advised Silicon Valley-based Bay West Development in the sale of 40 acres of undeveloped land in Petaluma, California for $20.1 million. Located at 500 Hopper Street, Bay West had originally purchased the vacant industrial-zoned property in 2016. The buyer was Indianapolis-based Scannell Properties, whose official plans for their new development project have yet to be announced. Trevor Buck, Steven Leonard and Brian Foster with Cushman & Wakefield’s North Bay office represented the seller in the transaction. “We marketed this property as an industrial build-to-suit opportunity to a wide audience of buyers and we received strong interest from a number of different investors and developers, even outside the scope of industrial,” said Trevor Buck, Executive Director. “Scannell proved to be an ideal buyer for this sought-after property given their experience and knowledge of the local area, [...]

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 [...]

Rare San Rafael Redevelopment Property Sold to Local Investor

SAN RAFAEL, Calif. – August 28, 2018 – Marin Square, a strategically located mixed-use retail/commercial property in San Rafael (Marin County), California, has sold to locally-based Chelsea Pacific Group. Marin Square was first developed in 1984 as a neighborhood shopping center and was later expanded to include an office and multi-tenant commercial component. The seller was Sutter Health. Cushman & Wakefield’s Dan Wald and Don LeBuhn (The Wald | LeBuhn Team), both Executive Managing Directors with the firm’s Retail Investment Advisors Group, in partnership with Trevor Buck, Director in the firm’s North Bay office, represented the seller in the disposition. The buyer, which is based in nearby Tiburon, represented itself. According to Mr. Wald, “Sutter Health significantly enhanced the property’s value prior to sale by allowing below-market leases to expire and limiting the term of the property’s few remaining tenants.  In this way, the property could be offered as a blank canvas [...]