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 [...]

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 Marketbeat Office Snapshot – Q2

By Robert Sammons Research Director, Northern California Economic Overview Private sector jobs for San Francisco have climbed to a record high of 922,500 as of May 2015, an increase of 39,400 (4.5%) year-over-year. The traditional office divisions recorded an increase of 25,200 positions or 6.9% over that same time period. Not surprisingly, the strongest subsector in office employment has been computer systems design & related services, which climbed by 10,000 positions or 18.2% to 64,800 year-over-year. The unemployment rate tumbled to 3.4% from 4.1% one year ago. Sublease Vacancy Up/ Leasing Activity Down The overall vacancy rate Citywide held steady at 6.4% in the second quarter. Year-over-year, vacancy has dropped 250 basis points (bps) from 8.9%. We feel the disparity between strong job growth and recent flat vacancy is due to two reasons - tenants that signed leases ahead of hiring and are now in the process of absorbing that [...]

Facebook Likes Menlo Park

By Sethena Leiker Data Center Specialist Senior Analyst – Specialty Practice Groups Research Growing Like Geng Busters Facebook’s humble beginnings are similar to many Silicon Valley startups.  The company's very first offices were located in a modest 3,000-sf class B office space on Geng Road in East Palo Alto. With a robust network of venture capitalists and a deep talent pool stocked with Stanford graduates, Palo Alto was an ideal trophy location to maximize success potential. Doubling Down For years, the city of Palo Alto has enjoyed a reputation for nurturing young companies such as Google, Pinterest, Intuit and many others, and subsequently watching them take an accelerated rate of growth just outside its city limits. And Facebook did just that. After growing to 500,000 sf in Palo Alto, Facebook doubled down in Menlo Park in February of 2011, through a 1,022,000-sf acquisition of the Sun-Oracle campus for $81M. The very [...]

Q3 – Marketbeat Office Snapshot, San Francisco

November 1, 2014 By Robert Sammons, Regional Director San Francisco Bay Area Research 4.5% Unemployment The San Francisco unemployment rate fell to 4.5% in the most recent (August) month available, down from 4.8% in July and 5.5% one year earlier, according to the State of California Employment Development Department. Total nonfarm employment climbed by 35,500 positions over the past twelve months. The office using sector (information, financial activities and professional and business services) jumped by 15,100 positions over the same period. Vigor & Vitality The San Francisco office market retained its vigor and vitality in the third quarter. Many data points have now reached or surpassed the levels of the last up cycle of early 2008 though the market has yet to close in on the record figures set in 1999. The Citywide overall vacancy rate dropped to 8.3% in the third quarter, down 60 basis points (bp) from the second [...]

2017-03-01T16:01:57-08:00November 1st, 2014|Categories: In the News|Tags: , , , , |0 Comments

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 [...]

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 [...]