San Francisco, CA - February 27, 2014 - Cassidy Turley, a leading commercial real estate services provider in the U.S., announces the following transactions originated in the firm’s Northern California offices:
Burr Pilger Mayer Consolidates into Full 20,824 SF Floor at 600 California Street, San Francisco
Burr Pilger Mayer (BPM), one of the largest California-based accounting and consulting firms, has signed a lease agreement for 20,824 square feet that will give the company occupancy of the entire sixth floor at the high-rise at 600 California Street in San Francisco. BPM worked closely with the Cassidy Turley team to design a space program that allowed BPM to reduce their square footage in the building while maintaining their existing head count. The new space will balance an open collaborative culture with the needs of a professional services firm. The 20-story tower is located in the City’s Financial District and is owned by Clarion Partners. Eli Ceryak, Tim Hogan and Ken DiScipio with Cassidy Turley represented BPM in the transaction.
Burr Pilger Mayer is one of the largest California-based accounting and consulting firms, serving the Bay Area's emerging and mid-cap businesses, as well as high net worth individuals since 1986. Its international tax practice is one of the largest on the West Coast. For more information, please visit www.bpmcpa.com.
Ronbow Corp Relocating/Expanding to 178,034 SF Facility in Livermore’s Amador Business Center
Ronbow Corporation, a bathroom décor designer/manufacturer, has signed a long-term lease agreement that will relocate and expand the company to a 178,034 square foot industrial facility in Livermore. Ronbow is making the move after outgrowing its former space in Newark. Located at 7150 Patterson Pass Road, Ronbow’s new facility is positioned within the Amador Business Center that is owned by Principal Financial Group and managed by Harvest Properties. Ronbow is currently amidst tenant improvements for its new space. The Amador Business Center is the workhorse of the Livermore warehouse/distribution market providing institutional quality warehouse product. Mark Dowling of Cassidy Turley represented the landlord in the transaction.
Flextronics Renews ±151,000 SF Research & Development Facility in Texas
Flextronics International USA, Inc. has renewed 151,369 square feet of research and development space in Plano, TX. The facility is located at 600 Shiloh Rd and is among several facilities Flextronics operates in North America, to include the U.S., Canada and Mexico. Flextronics’ U.S. headquarters is currently based in multiple locations in Milpitas/North San Jose. The Cassidy Turley team of Dan Hollingsworth, Tom McGovern, Steve Pace and Karen Sigl based in San Jose, who exclusively represent Flextronics International USA, Inc., were joined by Blake Anderson in the firm’s Dallas office in the transaction.
Headquartered in Singapore, Flextronics is a leading Electronics Manufacturing Services (EMS) provider focused on delivering complete design, engineering and manufacturing services to aerospace and defense, automotive, computing, consumer, industrial, infrastructure, medical, clean tech and mobile OEMs. Flextronics helps customers design, build, ship and service electronics products through a network of facilities in 30 countries on four continents. Flextronics employs over 200,000 people. For more information, please visit www.flextronics.com.
General Supply & Services Expands into 122,812 SF of Warehouse Space in Hayward
General Supply & Services, Inc. has signed a renewal and expansion that increased the company’s footprint to a total of ±122,812 square feet of warehouse space at the Peppertree Industrial Park in Hayward. Located at 30880 San Clemente St, the property is owned by Gluckstein-Peppertree, L.P. General Supply & Services renewed roughly ±96,000 square feet and expanded into ±25,000 square feet of space. Tom Damaschino and Jeff Starkovich with Cassidy Turley represented the tenant in the transaction.
Swift Real Estate Partners Sells Tower Plaza in San Mateo for $41.75 Million
Swift Real Estate Partners and an institutional capital partner have sold Tower Plaza, a ±200,626-square-foot office complex in San Mateo, to the joint venture of Scanlan Kemper Bard Companies, LLC & Goldman Sachs for $41,750,000 (±$208 per square foot). The investment team of Steve Hermann, Robert Gilley, and Eric Fox of Cassidy Turley in collaboration with Josh Rowell and Jon Mackey of Cornish & Carey Newmark Knight Frank represented Swift Realty Partners and their institutional partner in the disposition.
Located at 2121 S El Camino Real at the corner of Palm Avenue, Tower Plaza is well located in the heart of the Mid-Peninsula market between Silicon Valley and San Francisco. Tower Plaza is comprised of a 12-story office building surrounded by four (4) 1- and 2-story office buildings and a 5-level parking structure. The project is also equipped with on-site amenities including a fitness center, conference room, café, and an outdoor recreation area. There is also an additional ±6,000 square feet of storage space. Tower Plaza is comprised of a variety of professional service and technology users including major tenants Gurnick Academy of Medical Arts, New York Life Insurance Company, Aggregate Knowledge, Scale Computing, and Selectica. The project was approximately 60% leased at the time of sale.
Originally developed in the early 1970s, substantial improvements have been made to the building structures, interiors, site and parking garage in recent years. Exterior upgrades include new landscaping and lighting throughout the plaza area, an enhanced project entrance, and the addition of a bocce court/barbecue area. Recent interior improvements include the Tower lobby, management office, gym and deli.
Cannae Partners Acquires Two Buildings Totaling 193,510 SF within Norris Technology Center in San Ramon for $16.1 Million
San Francisco-based Cannae Partners has acquired two buildings totaling ±193,510 square feet positioned within the Norris Technology Center in San Ramon for $16,100,000 (±$83 per square foot). The seller was VIF / ZKS Norris Tech Center LLC. Michael Speers and Michael Copeland of Cassidy Turley represented Cannae Partners in the acquisition. In addition, Terry Daly and Kurt Scheidt with Cassidy Turley’s Mortgage Services assisted Cannae in their obtaining financing of the property.
Collectively, the Norris Technology Center is a three-building office, R&D, and warehouse complex totaling ±267,281 square feet situated on 16.9 acres. Cannae Partners acquired the two buildings located at 4550 Norris Canyon Rd, a single-story R&D building with light manufacturing and warehouse functions totaling 96,975 square feet, and 4600 Norris Canyon Rd, a two-story building totaling 96,535 square feet of office/R&D/lab. The third building, 2300 Camino Ramon, is a three-story Class A office building totaling 73,276 square feet that was purchased by Kaiser Permanente and recently opened as a medical office building. Norris Technology Center is positioned within Bishop Ranch, Northern California’s premier business park home to over 300 high profile firms including PG&E, GE Capital, Chevro and Bank of the West. For more information, visit www.norristechcenter.com
Cassidy Turley will be handling the property management and leasing on behalf of the new ownership.
Historic Danville-San Ramon Medical Center Sells for $15.3 Million
The ± 74,599 square foot Danville-San Ramon Medical Center has sold to Rassier Properties-Mercado, LLC for a price of $15,300,000 (±$205 per square foot). The project was roughly 70% occupied at the time of sale. Michael Speers and Chris Baker with Cassidy Turley represented the Seller in the disposition.
Located at 901-919 San Ramon Valley Blvd at the corner of Podva Rd, the Danville-San Ramon Medical Center consists of ten garden-style two-story office buildings totaling 74,599 square feet on ±4.9 acres on three separate parcels. The complex was constructed in three phases, with the very first building—911 San Ramon Valley Blvd— originally constructed back in 1870 (was then moved in late 1978). The project was then expanded 100 years later over the course of 1978 and 1982. Located in the heart of the affluent town of Danville and situated directly off Interstate 680, the property offers the surrounding residents convenient upscale dental and medical services.
Lineage Partners Completes 1031 Exchange with Two Silicon Valley Multi-Family Properties
Lineage Partners, LLC has successfully completed a 1031 Exchange involving two multi-family properties located in Silicon Valley. In the downleg, Lineage sold the 17-unit Avalon Apartment complex located at 420 Escuela Ave in Mountain View to Ashem, Inc. In its upleg, Lineage acquired a 21-unit apartment complex located at 1988 Bellomy St in Santa Clara from Bellomy, L.P. Brian Henry of Cassidy Turley represented both Lineage and Ashem, Inc. in the downleg transaction, and represented Lineage in the upleg transaction.
Investor Acquires 33,228 SF Attractive R&D Building in Foster City for $6.57 Million
Gray Peak Fork, LLC Series has acquired a 33,228 square foot freestanding R&D building in Foster City from Echevarria Revocable Family Trust for $6,570,000 ($198 per square foot). The attractive, single-story building is located at 333-353 Hatch Dr. and is approximately 60% leased to California Teacher’s Association. Sam Wright, Marc Pope and Bill Sawyer represented the seller, with Wright and Pope also representing the buyer in the transaction. Cassidy Turley will continue to market the remaining 13,173 square feet for lease.
Ramsell Corporation Completes Sale/Leaseback of Webster Place in Oakland’s Jack London Square
In a sale/leaseback negotiation, Alta Tierra Properties dba Ramsell Corporation has sold Webster Place, a ±27,099 square foot office building located in the heart of Oakland’s Jack London Square, for $6,191,200 (±$228 per square foot). The three-story single-tenant building is located at 200 Webster St, at the corner of 2nd St. The buyer was Klein, L.P. The marketing team of John Dolby, Dane Hooks and Chris Banke with Cassidy Turley represented the seller in the disposition.
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 4,000 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 $25.8 billion in 2013, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 24,000 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 14 Northern California offices and a 400-member team, our Northern California market leadership is demonstrated by completion of over 3,950 transactions, totaling $6.0 billion in 2013.