Italian Homemade Company Now a Permanent Resident in North Beach with Acquisition of Historic Caffe Roma Property

SAN FRANCISCO, Calif., November 5, 2018 – The Italian Homemade Company has purchased the historic Caffe Roma building totaling 5,181 square feet at 526 Columbus Ave. in San Francisco’s bustling North Beach neighborhood. Cameron Baird of Cushman & Wakefield represented the buyer in the transaction. “The Italian Homemade Company is honored to announce it is now a permanent resident of North Beach,” said Mattia Cosmi, CEO of Italian Homemade Company. “Nothing could better represent the bond between our Italian heritage and the city by the bay than the purchase of this great historic building.” Italian Homemade Company’s new location at 526 Columbus will be similar to their Union Street location featuring Italian specialties including handmade pastas and flatbread sandwiches, while also offering fresh pasta to go and a nice selection of Italian dry goods. Mr. Baird said, “The company has plans to upgrade and renovate the historic building with a [...]

Developer Buys Peninsula Office Building and Fully Leases to Tech Firm

by Roland Li, San Francisco Business Times Harvest Properties and LaSalle Investment Management have purchased a vacant office and R&D building in Foster City and immediately leased the entire building to a tech firm. The price for the 126,345-square-foot property at 1149 Chess Drive was about $35.3 million, or $280 per square foot. The sellers were Whitney Investments and Woodstock Development. The 1975 building is currently fully vacant, but during the sales process, a tech firm signed an 11-year lease for the entire building, said Joss Hanna, partner at Harvest Properties. A source familiar with the deal said the tenant focuses on artificial intelligence and robotics. The asking rent was about $36 per square foot. The building is undergoing a renovation that include a new entrance and landscaping. The property is zoned for both light industrial and office uses. "It's going to be truly transformative to an industrial building," [...]

2017-03-13T15:22:48+00:00 March 8th, 2017|Categories: In the News|Tags: , , , |0 Comments

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 – 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 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 [...]

San Francisco Jobs Hit Record High: December 2000 Numbers Shattered

  by Robert Sammons Regional Research Director, Northwest Job Growth: December 2000 Record Shattered According to the latest job numbers released by the State of California Employment Development Department on November 21, total jobs in the San Francisco Metropolitan Division (comprised of San Francisco, San Mateo and Marin counties) continue to climb ever higher – the area, in fact, hit a record high number of jobs in October with 1,125,300 now employed, blasting past the previous high of 1,117,700 recorded in December 2000. The unemployment rate for the three-county division stood at 4.2% in October, equal to the September figure though down a rather sharp 110 basis points from one year earlier. For non-office positions, growth has recently been driven by construction, leisure & hospitality and health care. Over the past year, leisure & hospitality has jumped by 6,300 to 151,000 employees, which is a record figure. Health care employment [...]

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

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+00:00 November 1st, 2014|Categories: In the News|Tags: , , , , |0 Comments

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 [...]