Cassidy Turley BT Commercial Significant Deals – February 17, 2011

Published on February 17, 2011

Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today.....

Peninsula Land & Capital Buys Prominent Class A Office Building in Downtown Mt. View for $8.55 Million

February 17, 2011 – Brian Henry, Kalil Jenab and Mike Connor with Cassidy Turley BT Commercial Palo Alto have collaborated to represent both buyer and seller in the investment sale of a 23,611-square-foot Class A office building located at 800 California Street in downtown Mountain View. The property sold for $8,550,000 ($362 per square foot). The seller was 800 California, LLC and the buyer was Menlo Park-based Peninsula Land & Capital, LLC. 800 California Street is a prominent three-story multi-tenant building well located in downtown Mountain View. It was fully leased at time of sale.


D.R. Stephens Buys 60,000 SF, 100% Leased Sunnyvale Building from Dollinger for $8.5 Million

February 17, 2011 – Kalil Jenab with Cassidy Turley BT Commercial Palo Alto represented both sides in the investment sale of a 60,000-square-foot R&D building in Sunnyvale for $8,500,000 ($142 per square foot). The buyer was D.R. Stephens and the seller was Dollinger Properties. The property is located at 415 Oakmead Parkway at the corner of East Arques Avenue and is fully leased to a single-tenant, Freeslate/Accelrys. The single-story building lies on ±4.24 acres and was constructed in 1977 (remodeled in 2006).


Samsung Semiconductor Subleases/Leases 50,890 SF R&D Building in North San Jose

February 17, 2011 – Ken Candelaria with Cassidy Turley BT Commercial Palo Alto has successfully assisted sublessor SAP locate a subtenant for its 50,890 square-foot building located at 3000 Orchard Parkway in North San Jose. The remainder of SAP’s lease obligation on the entire building was filled by a single company, Samsung Semiconductor, which is subletting the two-story space in the initial months of its term before then going direct with the landlord, Divco West Properties. Candelaria also represented Divco West in the direct phase of the transaction. The two-story, Class A building is very well located close to major companies and nearby Highway 101 and San Jose International Airport. Its sister building next door is fully leased to Fairchild Semiconductor.


Kaiser Foundation Staying Grounded Long-Term at Airport Trade Center

February 17, 2011 – Matt Squires and Marshall Hydorn with Cassidy Turley BT Commercial Burlingame represented property owner Woodmont Real Estate Services in a 28,562-square-foot office lease renewal with existing tenant, Kaiser Foundation Health Plan. Kaiser penned a long-term renewal on the entire building located at 1011 Sneath Lane in San Bruno known as Airport Trade Center. The property is very close to BART, CalTrain, SamTrans, Highway 101, 280 and 380.


Owner/User Buys Classic Brick Office Building in Emeryville for Over $3.2 Million

February 17, 2011 – Chris Baker and David Englert with Cassidy Turley BT Commercial’s Walnut Creek and Oakland offices represented buyer Dr. Robert Jamasbi and Dr. Brendan Morley in the acquisition of a 15,644-square-foot office building in Emeryville for $3,207,020 ($205 per square foot). The seller was a group of investors. The single-story, classic brick building is located at 1335 Stanford Avenue and was constructed in 1940.  Centrally located in Emeryville, it is walking distance to many retail amenities. The new owner will be occupying the entire building.


IXL Learning is Active at Keynote Plaza, San Mateo

February 17, 2011 – Clarke Funkhouser, Mike Moran, SIOR, and Randy Arrillaga with Cassidy Turley BT Commercial’s Burlingame and Palo Alto offices have represented property owner Keynote Systems, Inc. in the lease of 16,856 square feet of Class A office space at 777 Mariners Island Boulevard, commonly known as Keynote Plaza, in San Mateo.  The tenant is IXL Learning, Inc., a maker of web-based educational products for classroom uses, which is renewing and expanding on its current occupancy within the building.


Google Buys Building in Mt. View’s Shoreline Park, within City’s New Proposed High Density Comm/Resi Area

February 17, 2011 – Kalil Jenab and Ron Miller with Cassidy Turley BT Commercial Palo Alto teamed up to broker the sale of a 9,880-square-foot office building at 1685 Plymouth Street in Mountain View. The seller was a private investment group, and the buyer, Google, Inc. The two-story building, which sits on a ±0.82 acre parcel, sold for an undisclosed price. The property is located in Shoreline Park nearby the search engine giant’s prestigious worldwide headquarters. The property also resides within an area the City has proposed as the North Shoreline High Intensity Commercial/Residential – 70 DU/ac / 1.0 FAR at the corner of Alta Ave and Plymouth Street along Highway 101, as part of its new land use strategy, and which coincides with Google’s growth plans.


Cherry Business Park Sustains RONBOW Corporation in 125,072 SF

February 17, 2011 – The listing team of Jay Hagglund, Jim Kovaleski, Eddie Shuai and Craig Kovaleski with Cassidy Turley BT Commercial’s Oakland and San Jose offices represented property owner DCT Cherry Street CA, LP in its renewal of existing tenant RONBOW Materials Corporation on a total of 125,072 square feet of warehouse space at the Cherry Business Park in Newark. RONBOW, a provider of high quality bathroom products and member of The Sustainable Furnishings Council, is located at 38503 Cherry Street. Cherry Business Park is a three-building, ±608,000-square-foot warehouse/industrial project situated along Cherry Street, just north of Mowry Avenue.


Openwave Counts on Seven Networks to Fill Remaining Sub-Sublease Term at Pacific Shores Center

February 17, 2011 – Mike Moran, SIOR and Clarke Funkhouser of Cassidy Turley BT Commercial Burlingame represented sub-subtenant Seven Networks and the team of Ron Himes, Michael Courson and Mike Connor with Cassidy Turley BT Commercial Palo Alto represented sub-sublessor Openwave Systems, Inc. in a 31,934-square-foot office sub-sublease renewal at the Pacific Shores Center in Redwood City. Seven Networks’ initial sub-sublease began in late 2008 and will now continue on to fill the remainder of Openwave’s original sublease agreement.  


BRCP Expands, Doubles Existing Tenant KACE Networks at The Landmark Office Center

February 17, 2011 – The listing team of David Hiebert, Clark Heppberger and Ron Miller with Cassidy Turley BT Commercial Palo Alto represented property owner Broadreach Capital Partners (BRCP) in the lease expansion of existing tenant, KACE Networks, at The Landmark Office Center in Mountain View. KACE, a leading Systems Management Appliance company, is expanding into an additional 15,777 square feet of space in the project, after having originally moved into 16,338 square feet in the project last summer. The Landmark Office Center is a ±265,000 square foot nine-building project located on Landings Drive in the City’s shoreline area.


Klout, Inc. Relocating, Staying in San Francisco

February 17, 2011 – Jim Chesler with Cassidy Turley BT Commercial San Francisco represented tenant Klout, Inc. in the lease of 11,556 square feet of office space at 77 Stillman Street in San Francisco. The property is owned by Thomas Murphy Trust. Founded in 2008, Klout identifies influencers on topics across the social web. The company is relocating from its ground floor space at 795 Folsom Street.


Hayward Gateway Center Expands Pan Pacific Plastics and Renews Daiso

February 17, 2011 – Jay Hagglund and Jeff Starkovich with Cassidy Turley BT Commercial Oakland represented property owner Hayward M Industrial, LLC in two recent warehouse lease transactions at the Hayward Gateway Center for a total of 101,376 square feet of space. Existing tenant Pan Pacific Plastics Manufacturing, Inc. renewed and expanded into a total of 46,080 square feet of space in Building K. Pan Pacific was previously in roughly 36,864 square feet. And Daiso, an existing tenant of the site since 2006, renewed its lease of 55,296 square feet in Building M of the project. The facility serves as storage and distribution for Daiso, Japan’s #1 livingware supplier and which continues its retail store expansion here in the Bay Area.


City of Oakley Purchases ±6.98 Acres for $2 Million; Site Plans TBD

February 17, 2011 – Jay Hamer with Cassidy Turley BT Commercial Sacramento represented seller U.S. Bank, North America in the sale of 6.98 acres of vacant land in Oakley, CA for $2,000,000 ($6.58 per square foot). The buyer was the City of Oakley, which used redevelopment funds to purchase the site. The City plans to hold the property located at the SEC Empire Avenue and Neroly Road for the time being, with exact site plans still to be determined. 


Quality Quartz Relocating South to Larger Facility in Newark

February 17, 2011 – Eddie Shuai and Craig Kovaleski with Cassidy Turley BT Commercial’s Oakland and San Jose offices represented property owner Catapult Properties V, LLC in the lease of 30,000 square feet of industrial space at 8484 Central Avenue in Newark. The new tenant is Quality Quartz Engineering, Inc., which is relocating and expanding southbound from its existing location in Hayward. The building was previously used as a machine shop and has undergone many clean room improvements. Established in 1995, Quality Quartz is a leader in the design and manufacture of solid quartz products for the Semiconductor, Fiber Optic and Lighting Industries. Quality Quartz also has an option to purchase the total 40,000-square-foot building.


Auto Parts Store Buys Former Hollywood Video Site in East San Jose for $1.7 Million

February 17, 2011 – Fred Eder with Cassidy Turley BT Commercial San Jose represented seller Bank of America in the REO sale of an 8,250-square-foot mixed-use retail/office building in east San Jose for $1,787,500 ($217 per square foot). The single-story property is located at 1699 North Capitol Avenue and previously housed Hollywood Video in about half the building. The buyer is C&H Properties, which will occupy the former video store space as well as some of the building’s office space for its own use to sell auto parts. The remainder of the building is leased.


Klamath Boat Company Cruising Over from Mare Island to Fairfield

February 17, 2011 – Eric Rehn, CCIM with Cassidy Turley BT Commercial’s Industrial Practice Group in Walnut Creek represented the Landlord in a new 13,000-square-foot lease in Fairfield, CA. The tenant is Klamath Boat Company, which relocated their production facilities from Mare Island to its new site at 5199 Fulton Drive this month.  “The City of Fairfield’s Economic Development Department was great in assisting Klamath through the permitting process and we did our best to structure a deal that would work for Klamath” reported Eric Rehn, “It was truly a win for the Tenant, and win for the City of Fairfield, and a win for the Landlord”. 


Historic Former Philipp’s Bakery Building Has Attractive Ingredients for New Investor
February 17, 2011 – Jay Richter, CCIM and Drew Wheatley represented both buyer and seller in the sale of a 3,256-square-foot freestanding building in East Sacramento. The single-story, old-style brick building is located at 3300 Folsom Street at 33rd Street and was formerly home to Philipp’s Bakery. Philipp's Bakery was opened in 1925 and was among the first tenants of the historic building—also among the first built in the area—before it expanded and then purchased and remodeled the property. Philipp’s Bakery ceased operation in 2007 due to the property’s needed repairs. The new owners, Sacramento developers Ken Fahn and Mark Cordano, plan to preserve the building's architectural integrity, but will make some needed improvements to the property.

Mark Bollozos

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