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

Social Stratosphere Update: In the News – September, 2015

By Mike Kirner Happy 161st Birthday, Oscar October 16th was the birthday of my favorite Victorian poet, dramatist and playwright, Oscar Wilde. If you've never heard of him, he was alive and making news headlines long before Trump, Tom Brady, Mark Zuckerberg, Jayzee, most of the Kardashians ....or even Hillary Clinton. I'm pretty sure he rarely used Facebook, text messaging and he secretly loathed social platforms like LinkedIn and twitter. Back then, requesting an Uber ride meant telling your butler to fetch a horse and carriage. Believe it or not, trendy and collaborative commercial real estate professionals like us used to write each other handwritten notes instead of blogging or blasting out email blasts like this. Oscar Fingal O'Flahertie Wills Wilde (16 October 1854 – 30 November 1900) was an Irish author, dramatist and extremely popular playwright.  After writing in different forms throughout the 1880s, he became one of London's most [...]

C&W In The News – May 2015

Smelling the Social Media Coffee "Smelling the Social Media Coffee" is a state of being that refers to individuals who regularly participate and interact with one or several of the social platforms that are part of today's social stratosphere. Their participation is often rewarded by news mentions in local and national press. Of course not everyone has time to consistently engage with social platforms, but it's a good idea to set aside at least 15 to 30 minutes per week to become more familiar with some of the more popular, business related online vehicles. Bold & Extra Bold: LinkedIn & Twitter LinkedIn and twitter are two of the most established and easiest to engage with on a consistent basis. Contributing to blog posts by writing articles and commenting on stories is also a good idea. In the long run, it establishes you as an "expert in your field" and helps build [...]

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 [...]