Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today.....
Stevenson Point Tech Park I Sees 90,000 SF in Renewal/Expansion Activity; Triple Ring Technologies Renews/Expands, InSound Medical Renews
June 3, 2011 – Michael Karp, Eddie Shuai and David Hiebert with Cassidy Turley BT Commercial’s Oakland and Palo Alto offices represented landlord Broadreach Capital Partners in two lease transactions worth nearly 90,000 square feet of space at the Stevenson Point Technology Park in Newark. The first transaction consisted of a 62,020-square-foot lease renewal and expansion with tenant Triple Ring Technologies, Inc., which executed a long-term lease for two units located at 39655 Eureka Drive. Triple Ring, a technical service provider, increased its occupancy from ±47,100 square feet in the Park prior. Additionally, existing tenant InSound Medical, Inc. penned a renewal for its 27,861 square feet of space within the project. InSound Medical, a member of Sonova Holding AG of Switzerland, develops and manufactures next-generation hearing solutions. Located on Eureka Drive, Stevenson Point Technology Center provides a high-image corporate campus environment and allows for easy access to Highways 880, 680 and 84.
Premier Bayshore Technology Park Cuts New 22,159 SF Deal with Axway, Inc.
June 3, 2011 – The listing team of Randy Keller, Mike Moran, SIOR, Ben Paul and Randy Arrillaga with Cassidy Turley BT Commercial’s Burlingame and Palo Alto offices represented property owner Prudential Real Estate Investment Management in a new 22,159-square-foot office deal at the Bayshore Technology Park in Redwood Shores. The new tenant is Axway, Inc., the Business Interactions Networks Company, which is scheduled to occupy the entire 2nd floor of the building located at 2600 Bridge Parkway in July. Bayshore Technology Park is the San Francisco Peninsula’s premier technology park totaling 1 million square feet. It provides excellent access to Highway 101 with close proximity to Highway 92. It also features a shuttle service to Park from CalTrans/BART (www.bayshoretechpark.com).
Escuela Bilingue Acquires Property in Emeryville for $6 Million for New Long-Term Campus
June 3, 2011 – Barry Cohn and David Englert with Cassidy Turley BT Commercial Oakland have teamed up to represent buyer Escuela Bilingue Internacional (EBI) in its acquisition of a 27,000-square-foot building plus a ±0.93 acre vacant piece of land on two parcels situated at San Pablo Avenue and 45th Street in Emeryville for a combined purchase price of $6,000,000. Sterling Bank & Trust FSB was the seller of the building located at 4550 San Pablo Avenue and Encore Housing Opportunity Fund was the seller of the adjacent vacant land located at 1082 45th Street. Heading into its fifth year and growing rapidly, EBI is an independent co-educational dayschool offering a Spanish-English dual language extending from pre-Kindergarten now through 8th grade. (EBI opened its doors in September 2006, with preschool and kindergarten). The school will eventually be moving from its current facility in the Rockridge neighborhood of Oakland where it rents space from a church to its new Emeryville site that will create a long-term home for its new campus. EBI’s newly acquired property will give the dayschool the potential to expand to a maximum 45,000-square-foot facility with additional outdoor play space. For further details about Escuela Bilingue, log on to www.ebinternational.org.
Ingenuity Systems Renews/Expands 41,097 SF at World-Class Pacific Shores Center
June 3, 2011 – The listing team of Ben Paul, Mike Moran, SIOR, Mike Connor and Mike Courson with Cassidy Turley BT Commercial’s Burlingame and Palo Alto offices represented property owner Starwood Capital Group in the lease expansion of existing tenant Ingenuity Systems at the world-class Pacific Shores Center in Redwood City. Ingenuity completed a renewal and expansion on a total of 41,097 square feet at the 1700 Seaport Boulevard building. Located on the shores of the San Francisco Bay, Pacific Shores Center is a world-class campus environment composed of 10 buildings totaling ±1.7 million square feet. The Center features a 38,000-square-foot fitness center, full baseball/softball fields, and a 3-mile nature walk along adjacent wetlands (www.pacificshores.com). Ingenuity has been a tenant in the project since 2005.
University of Santa Cruz Expands, Fills Entire 62,828 SF Building in Santa Clara
June 3, 2011 – The team of Mike Connor, Mike Courson and Ron Himes and Kalil Jenab with Cassidy Turley BT Commercial Palo Alto in collaboration with Jon DeCoite of Cassidy Turley CPS represented property owner PSAI in expanding existing tenant, The Regents of the University of California, Santa Cruz, into an additional 21,923 square feet of space on the 3rd floor at 2505 Augustine Drive in Santa Clara. The expansion makes The University the sole tenant for the entire 62,828-square-foot building. Scheduled to expand in August, The University currently occupies the remaining 40,710 square feet on the first two floors of the three-story building, a deal completed in 2009 by the listing team. Both of The University’s lease contracts will run coterminous through nearly the remainder of the decade. The University utilizes the building as an extension of its Santa Cruz campus. The distinctly white building is highly visible off of the west side of Highway 101, between Bowers Avenue and San Tomas Expressway.
West Oakland’s New Ivy Commerce Center Fully Leased in 15 Months to Strong Tenant Mix; Last Available Space Taken by Three Companies
June 3, 2011 – Gary Fracchia, SIOR and Brian Collins with Cassidy Turley BT Commercial Oakland have negotiated three new leases on the final 23,040 square feet of available space at the Ivy Commerce Center in West Oakland. The newest occupants in the multi-tenant building will be Otis Elevator, Playcore, and JE Higgins Lumber, each which executed leases of 7,680 square feet. Fracchia and Collins represented the landlord, Jerry Ivy Trust, in the transactions that have swiftly brought the 65,000-square-foot industrial project built just over a year ago to full occupancy.
Fracchia stated, “It took us about 15 months from completion of the building to get it fully tenanted. We were able to find very good, credit worthy companies to occupy. It will be fully occupied by early fall after tenant improvements are completed. Rent expectations were not realized from the time the project was initially conceived, but given the economic climate, rents are comparable to Emeryville industrial space. This is testimony to interest in West Oakland, given availability of functional industrial space.”
The Ivy Commerce Center is now fully leased to six tenants employing 106 people. The tenants in the project include Auto Chlor (±12,000 square feet); Playcore (7,680 square feet); Otis Elevator (7,680 square feet); JE Higgins Lumber (7,680 square feet); Natural Choice Distribution (7,680 square feet); and the largest tenant, Expo Floors (23,040 square feet). The strong, interconnected mix of industrial-oriented tenants is helping create a very positive, beneficial relationship within the project in that the tenants’ customers are being drawn to one another, as exemplified by the crossover from customers into the showrooms of Expo Floors and JE Higgins Lumber.
The Ivy Commercial Center is well located at 14th Street and Mandela Parkway in West Oakland and provides easy freeway access to I-880 and the Bay Bridge and is close to the Port of Oakland, San Francisco and Emeryville. It also is nearby public transit, to include BART and AC Transit.
ATE Logistics Acquires 48,552 SF Mfg/Distribution Facility in Hayward for $3.25 Million; Relocating/Expanding Operation from Union City
June 3, 2011 – Sam Higgins and Tom Damaschino with Cassidy Turley BT Commercial Oakland represented buyer Air Tiger Express (ATE) Logistics in the purchase of a 48,552-square-foot manufacturing/distribution building on ±2.12 acres in Hayward for $3,250,000 ($67 per square foot on the building). The building is located at 1190 Zephyr Avenue and was sold by White Family Trust. ATE will be relocating and expanding from its existing facility in ±37,000 square feet in Union City where it has been a tenant during the past decade. The fact that its lease in Union City was soon set to expire coupled by an attractive purchase price were the primary reasons ATE opted for ownership of its real estate. ATE is a provider of high level warehouse and distribution services.
The Girls Middle School Beginning New Chapter in Palo Alto
June 3, 2011 – The team of Annie Micco and Mike Connor of Cassidy Turley BT Commercial Palo Alto represented tenant The Girls Middle School (GMS) in the long term lease of a 23,500-square-foot R&D building located at 3400 West Bayshore Road in Palo Alto for the relocation of its school. The property is owned by Renault & Handley. GMS will be relocating from current location on Rengstorff Avenue in Mountain View into this Palo Alto location. GMS is an independent, all-girls day school for students in sixth, seventh and eighth grade. They will be opening at this new location later this summer. More information can be found at www.girlsms.org.
Kaiser Foundation Signs Long-Term Lease Renewal for 41,190 SF in Milpitas
June 3, 2011 – Drew Arvay and Gary Hansen with Cassidy Turley BT Commercial San Jose represented landlord Bagher Trust in the long-term lease renewal of existing tenant Kaiser Foundation Hospitals for 41,190 square feet of R&D space in Milpitas. The space comprises the majority of a ±59,000 square-foot building located at 611-631 Milpitas Boulevard. Kaiser Foundation is currently the only tenant in the building, with the remaining space currently marketed for lease by Hansen and Danny Yu also of Cassidy Turley BT Commercial San Jose. The entire building is also being made available for purchase for an investor or an owner/user.
Premier Law Firm, Hopkins & Carley, Expands into 9,582 SF in Stanford Research Park
June 3, 2011 – Marcus Wood with Cassidy Turley BT Commercial Palo Alto represented property owner Hohbach Enterprises, Inc. in the lease of 9,582 square feet of Class A office space located at 200 Page Mill Road within the city of Palo Alto’s Stanford Research Park. The tenant is Hopkins & Carley, a premier law firm that is expanding from downtown Palo Alto. Hopkins & Carley required the additional space due to its growth over the past year on the peninsula and felt that this “great building was well located central to its client base.” Hohbach Enterprises will provide high-class renovations to the exterior of the building and the interior space, which has existing law firm build-out, will also be improved for the specific needs of the tenant. The two-story 20,000-square-foot building will also be able to accommodate any expansion requirements and will also include prominent signage along Page Mill Road.
Lafayette Paving Company Secures Martinez Industrial Yard Complex
June 3, 2011 – Eric Rehn, CCIM and Ted Gallagher of Cassidy Turley BT Commercial Walnut Creek represented both the buyer, Jim & Shari Lucas (J.V. Lucas Paving Co.), and the seller, CGT Associates, in the sale of 865 Howe Road in Martinez for $2,500,000.00. The property includes a ±4,800-square-foot freestanding office building, a ±6,775-square-foot warehouse, a ±4,000-square-foot Quonset hut, welding shed, and other yard improvements on a 2.99 acre parcel. The buyer is an Owner/User and is relocating his current yard facility from Lafayette. Rehn stated, “We are pleased that we were able to complete the transaction in this difficult lending environment. We had a lot of interest on the property, including the City of Martinez which had considered the site for the relocation of its corporation yard.”
NextLabs, Inc. Makes 11,124 SF Splash into Waters Technology Park, San Mateo
June 3, 2011 – Marc Pope and Clarke Funkhouser with Cassidy Turley BT Commercial Burlingame represented landlord TA Associates in a new office lease of 11,124 square feet at the Waters Technology Park in San Mateo. The new tenant is NextLabs, Inc., a leading provider of policy-driven information risk management software for Global 5000 enterprises. Waters Technology Park consists of two, 50,000-square-foot office buildings located near Highways 101 and 92. It has been home to some of the Bay Area’s fastest growing companies, as well as established professional services users.
GameTheory Relocating to New San Francisco Location
June 3, 2011 – Jim Chesler, Jason Burch, Dan Persyn and Bill Sawyer with Cassidy Turley BT Commercial’s San Francisco and Palo Alto offices represented tenant GameTheory, LLC in a new lease of 11,263 square feet of office space at 114 Sansome Street in San Francisco. The property is owned by Seagate Properties. GameTheory will be relocating its office already in the City on Berry Street to its new address. GameTheory was founded in 2009 and its proprietary optimization technology creates an environment where advertisers can acquire quality leads and publishers can maximize the profitability of their traffic.
Apigee Corp Signs 8,367 SF Office Lease at Courthouse Plaza in Downtown Palo Alto
June 3, 2011 – Marcus Wood with Cassidy Turley BT Commercial Palo Alto represented landlord Hohbach Realty Corporation in a new lease of 8,367 square feet of office space in downtown Palo Alto to tenant Apigee Corporation. The property is located at 260 Sheridan Avenue in a project known as the Courthouse Plaza. Apigee develops tools to make learning and working with application programming interfaces (APIs) easier.
Serramonte Business Center Gains Tenant Farmers Insurance
June 3, 2011 – John Barsocchini and William Syme with Cassidy Turley BT Commercial Burlingame represented property owner Nearon Enterprises in a new 11,958-square-foot office lease transaction at the Serramonte Business Center in Daly City. The tenant is Farmers Insurance Exchange. The space is located at 455 Hickey Boulevard.
R&G Expands Nearly Threefold to 30,551 SF at Sunshine Business Park, Oakland
June 3, 2011 – Brian Collins, Gary Fracchia and Adam Peterson with Cassidy Turley BT Commercial Oakland represented both landlord Amerco Real Estate and tenant R&G in the direct lease of 30,551 square feet of industrial space at the Sunshine Business Park in Oakland. The property is located at 851 81st Avenue. Prior to this direct lease, R&G had been subleasing roughly 12,000 square feet of space from one of the existing tenants in the project.
Cassidy Turley BT Commercial provides this information based on best-available knowledge and does not warrant accuracy provided us by 3rd parties. For further verification and/or questions, please contact the brokers listed below with the particular news announcement.