Cassidy Turley, a leading commercial real estate services provider in the U.S., today announced
Pacific Shores Center Lands 105,775 SF Tenant, Rocket Fuel, Activity at Campus Continues to Soar
Mike Moran, Ben Paul and Mike Connor with Cassidy Turley represented the ownership of joint venture Starwood Capital Group and Blackstone Real Estate Partners in a long-term lease of 105,775 square feet to new tenant, Rocket Fuel, at the renown Pacific Shores Center in Redwood City. Rocket Fuel, a growing advertising technology company that recently filed for a $100 million IPO last month, will be relocating and expanding more than threefold from approximately 30,000 square feet at 350 Marine Parkway, keeping its offices in Redwood City. Rocket Fuel is scheduled for occupancy at its new Class A space that will span multiple floors at the 1900 Seaport Boulevard building at Pacific Shores Center early next year.
The prestigious Pacific Shores Center has been a highly sought-after site for dynamic companies since its inception. It is home to large users such as Informatica Corp, Zazzle, Gunderson Dettmer, Heartflow, Abbot Labs, C3, Openwave Mobility/Openwave Messaging, Ingenuity Systems, Nominum, Pano Logic, Sencha, Inc., and Seven Networks. There are also a number of mid-size and smaller users.
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 with basketball court and swimming pool, dramatic views and award winning architecture, full baseball/softball fields, a 3-mile nature walk along adjacent wetlands and a full time dedicated shuttle to downtown Redwood City’s baby bullet Cal Train station. For more information, visit www.pacificshores.com.
UMEX Buys 318,320 SF Stockton Facility, Relocating Hayward Subsidiary International Window Corp.
Sam Higgins with Cassidy Turley represented buyer Universal Molding Extrusion Company (UMEX) in the acquisition of a 318,320-square-foot state-of-the-art manufacturing plant located at 1320 Performance Drive in Stockton. UMEX purchased the facility to house its fully-owned subsidiary International Window Corporation, which will be relocating its operation from Hayward. 1320 Performance is well located just east of the Stockton airport, between Interstates 5 and 99. The seller was Noll/Norwesco LLC, which had been operating the facility as Noll Manufacturing Co. UMEX is based in Downey, CA. UMEX has developed into a leading edge company providing its customers with a wide range of aluminum extrusion, fabrication and finishing capabilities. With over 50 years of experience, we utilize state of the art equipment to meet all of our client's needs.
Sistema US Acquires ±94,500 SF Building in Petaluma, More Than Doubling North Bay Footprint
Steven Leonard, Trevor Buck and Brian Foster with Cassidy Turley represented both buyer, Sistema US and seller Inland American/D.R. Stephens in the off-market owner/use sale of a ±94,500-square-foot industrial building in Petaluma for $7,957,500 ($84 per square foot). Sistema US, an affiliate of New Zealand-based Sistema Plastics, purchased the building located at 775 Southpoint Blvd. Recently vacated by Pomegranate Communications, 775 Southpoint is considered a rare, quality distribution building that is comparably hard-to-find in any size anywhere in the North Bay region. Sistema US is currently based in a ±42,500-square-foot building on N McDowell Blvd—which it owns—and plans to relocate/expand its North Bay operation by October.
The fastest growing food storage brand in the World, Sistema Plastics is a product line that began in a garage in New Zealand and 30 years later now exports to 59 countries around the world. Sistema Plastics is a proponent of BPA free & lead free quality plastic storage. Sistema US was founded in 2007 and is privately held.
Hayward-Based East Bay Logistics Expands to ±105,450 SF Warehouse Facility in San Leandro
Jay Hagglund and Jeff Starkovich with Cassidy Turley represented tenant East Bay Logistics (EBL) in the long-term lease of a 105,450-square-foot freestanding warehouse facility in San Leandro. EBL, the West Coast leader in full service green bean logistics service to the coffee and cocoa industries with offices in Hayward and Los Angeles, will be expanding its warehousing operation from Hayward. Owned by Allan & Henry, Inc., the property is located at 1800 Merced Street with proximity to Port of Oakland, Oakland International Airport, and Interstate 880. EBL was founded in 1997 to serve Northern California chocolate makers with full service cocoa warehousing. EBL Coffee was founded in 2006 to serve specialty coffee roasters and importers of green coffee in Northern California. EBL Coffee LA was founded in 2011 to serve coffee roasters in Los Angeles and the importers of green coffee to the LA market.
Medallia Extends Term and Expands Occupancy More Than 60% to 56,910 SF in Palo Alto
Scott Foster with Cassidy Turley along with Wayne Kumagai and Randy Scott of Cornish & Carey Commercial Newmark Knight Frank collaborated to represent Medallia, Inc. in extending the company’s sub-sublease term as well as expanding its square footage into a total of 56,910 square feet in Palo Alto. Medallia will be increasing its occupancy by more than 60% from its previous footprint of 35,000 square feet within the building at 395 Page Mill Road. The sub-sublessor is AOL, who subleases the entire ±225,000-square-foot three-story building from Google and occupies the third floor. The property is owned by Jay Paul Company. Medallia (www.medallia.com) is the customer experience management company. Founded in 2001, the company is trusted by many of the world’s leading brands. Medallia provides a SaaS-based software platform, which captures feedback across Web, social, mobile, and contact center channels, analyzes it in real-time, and enables companies to take action to drive customer delight.
Glassdoor, Inc. Leases 30,350 SF at Shoreline Office Center in Mill Valley, Relocating from Sausalito
Whitney Strotz with Cassidy Turley represented landlord Equity Office Properties in leasing 30,350 square feet of Class A office space to Glassdoor, Inc. at the Shoreline Office Center in Mill Valley. Glassdoor leased part of the first and all the second floor of the two-story building located at 100 Shoreline Highway (A). The company plans to relocate its offices from Harbor Drive in Sausalito early next year. Equity Office Properties was pleased to be able to support one of its tenant's through growth and expansion as they will be relocating from one of their projects. Shoreline Office Center is a two-building Class A project totaling 98,000 waterfront square feet. Shoreline Office Center is conveniently located in Southern Marin County, just off Highway 101. Bordered on 3 sides by Richardson Bay, the property offers beautiful water views, with direct access to a walking path. There are a variety of shops, restaurants and retail services in nearby Strawberry Shopping Center. Downtown Mill Valley is also just minutes away. Equity Office Properties is the largest owner of office buildings in Marin County, and Whitney Strotz and the Cassidy Turley team represent them across their holdings in the area.
Lin-Zhi International Buys 30,642 SF Building in Santa Clara for Nearly $6M for Planned Future Growth
Tenny Tsai with Cassidy Turley represented buyer Lin-Zhi International, an owner/user, in the acquisition of a 30,642-square-foot R&D building in Santa Clara for $5,975,190 ($195 per square foot). Lin-Zhi International, a biotechnology company specializing in diagnostic reagents, is currently leasing 12,000 square feet in Sunnyvale. The company will be renovating its new Santa Clara building and plans to relocate/expand in the near future to accommodate its anticipated future growth.
Intel Subsidiary, Wind River Systems, Takes 24,924 SF at Renovated Great America Place, Santa Clara
Brandon Bain and Erik Hallgrimson with Cassidy Turley represented landlord Newcastle Partners, Inc. in the long-term lease of 24,924 square feet of office space at Great America Place in Santa Clara. The new tenant is Wind River Systems, Inc., a wholly owned subsidiary of Intel Corporation and leader in embedded and mobile software. Wind River leased the entire second floor of the two-story building at 2903 Bunker Hill Lane. Great America Place is a premier three-building office project positioned at the corner of Bunker Hill Lane and Great America Parkway in the city’s core business district. The property recently completed market ready renovations. The property provides great identity and is walking distance to light rail, Santa Clara Convention Center, hotels, amenities, and the future 49ers stadium, and also offers convenient access to Highway 101 and 237 and Interstate 880.
Cassidy Turley 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.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,800 professionals in more than 60 offices nationwide. With headquarters in Washington, DC, the company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2012, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 23,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.
Cassidy Turley provides regional real estate services in Northern California. With 15 Northern California offices and a 400-member team, our Northern California market leadership is demonstrated by completion of over 3,600 transactions, totaling over $4.9 billion in 2012.