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C&W Northern California In the News

Silicon Valley VC’s Pay Highest Rent in US
Bloomberg.com, September 19
Located in Facebook Inc.’s hometown of Menlo Park, California, Sand Hill Road has the most expensive office space in the U.S., even as the startup market moderates, according to data from commercial real estate firm Cushman & Wakefield. Robert Sammons & Jeff Cushman are quoted.

email_final-aerial-dusk-newbridgeFivepoint Names Cushman & Wakefield Listing Agent for SF Shipyard  
The Registry, September 15
FivePoint Holdings recently announced that Cushman & Wakefield has been named the exclusive leasing agent for approximately 5 million square feet of commercial space as part of the second phase of development at The San Francisco Shipyard, a multibillion-dollar waterfront community along San Francisco’s southeastern shoreline. Led by Managing Principals Mike Moran and J.D. Lumpkin, the Cushman & Wakefield team is spearheading commercial leasing efforts, attracting innovative office, life-science and research and development occupiers

Seasoned CRE Veteran Greg Fogg Joins Cushman & Wakefield
Costar, September 21
Greg Fogg, a well known San Francisco Bay Area commercial real estate broker has joined Cushman & Wakefield. The 26 year industry veteran has extensive experience in both landlord and tenant representation. Among other prominent brand names, Mr. Fogg’s past clients include Levi Strauss & Co, Virgin American Airlines, Mizuho Bank, Matthews Asia Funds, ARUP and Piper Jaffray.

Tiffany Building Trades Hands 
CPE Executive, September 27
A European investor has purchased the iconic Tiffany & Co. building in San Francisco. The 11-story property is located at 360 Post St. on Union Square. Kazuko Morgan and Seth Siegel advised on the transaction.

cw-sells-tiffany-building-kazuko-siegelEuropean Investor Buys Tiffany Bldg in SF

thenewsfunnel.com, September  19
Seth Siegel, executive managing director with Cushman & Wakefield, told Commercial Property Executive. “People buy this kind of real estate not just because its iconic real estate but because when you see properties like this—these rare properties in areas like Union Square—they tend to have a history of outperforming the average type of investment.”

Greg Fogg Has Joined Cushman & Wakefield
The Registry, September 15

Silicon Valley Office Campus to Add Office & Retail
CPE Executive, September  7
Washington Holdings, a Seattle-based institutional commercial real estate investment firm, is revamping its 46-acre Mission Park office campus in Santa Clara by adding 24,000 square feet of retail and a five-story, 175-room extended-stay hotel to the property. Cushman & Wakefield’s Todd Beatty to lead retal leasing efforts.

C&W is Listing Agent for SF Shipyard
bisnowsf, September 21

“The addition of commercial in the Shipyard space will draw a variety of businesses…having a significant long-term positive economic impact on the community,” says FivePoint regional president Kofi Bonner.

The Shipyard is a mixed-use development that will create thousands of homes, a commercial district including offices, makerspaces, research facilities, restaurants and shopping in new and reclaimed heritage buildings along with planned acres of public space and sports grounds.

SETA Extends Full-Bldg. Lease in Sacramento
Costar, September 30
Sacramento Employment and Training Agency (SETA) will maintain its location at 925 Del Paso Blvd. in Sacramento after agreeing to renew its full-building lease with property owner, McCuen Properties. Cushman & Wakefield’s Ron Thomas, Kevin Partington Bruce Hohenhaus and Chris Schwarze represented the landlord.

garrick-brown-santa-rosa-malls-changingSanta Rosa Malls Are Changing
North Bay Business Journal, September 26
Santa Rosa’s two malls have long been premier retail spaces in the county, and construction of the 31,000-square-foot outlet represents the latest step in reinvigorating the 54-year-old center. In the past six years, Coddingtown has added a Whole Foods, a Target and a string of restaurants on its front face on Guerneville Road. Garrick Brown is quoted.

California Dreaming for Chinese Investors
Business Recorder, September 25
Chinese companies shelled out a record $15 billion last year in the US and that figure could more than double in 2016, according to research firm Rhodium Group and the National Committee on US-China Relations . Cushman & Wakefield’s Northern California research is cited.

Menlo Park Has Highest Office Rents
bisnow SF, September 21
Sand Hill Road in Menlo Park is the most expensive office rental submarket in the country, with Silicon Valley and Manhattan home to the submarkets that dominate the nation’s highest asking rents, according to a recent report by Cushman & Wakefield.

VC’s Spend More than Bankers
CB Insights.com, September 26
Here’s more proof that disruption is not cheap. Graph shows how Silicon Valley VCs pay more for their Sand Hill Road digs than East Coast finance types. Cushman & Wakefield’s Northern California research is cited.

Office Deal Award Winner: U.C. Santa Cruz Scotts Valley | Structures
Silicon Valley Business Journal, September 22
The Santa Cruz-area commercial real estate market hasn’t exactly seen much action during the current boom. So U.C. Santa Cruz’s lease in early May of about 130,000 square feet at Scotts Valley’s Enterprise Technology Center is a milestone for the market. Drew Arvay of Cushman & Wakefield is among winners.

 

Everything in Moderation
The Registry, September 21
“It’s still a healthy market, but we do have a lot of new construction underway [and] a lot of construction planned,” said Robert Sammons, regional director of Bay Area research at real estate brokerage Cushman & Wakefield in San Francisco. “We still see rather steady growth but just not at the record levels we’ve seen over the past six or seven years. This is the new reality setting in.”

 

220 Post in San Francisco Sells
The Registry, September 21
City Center Realty Partners, LLC (CCRP), a San Francisco-based real estate investor and developer, in a partnership with Angelo, Gordon & Co., has announced its acquisition of 220 Post Street. Kazuko Morgan of Cushman & Wakefield was retained to help lease the building.


power-women-2016-margaret-duskin-rhonda-diaz-caldewey-cushman Power Women Honored at Sir Francis Drake in SF

bisnow SF, September 22
Bisnow recently honored the Bay Area’s 50 most powerful women in commercial real estate along with 300 friends, supporters and sponsors at the Sir Francis Drake Hotel in San Francisco. Rhonda Diaz-CaldeweyMargaret Duskin  (in photo) were among the elite and well deserving winners. Also in attendance were Cushman  & Wakefield’s Danny Pickard, Mary Davis and Mike Kirner.

 

 

Milpitas Office Complex Sold
The Registry, September 20
A joint venture of Westport Capital Partners and San Francisco-based Cannae Partners has bought the seven-building 466,000 square foot Oak Creek Business park in Milpitas. The listing agents included Eric Fox and Steve Hermann of Cushman & Wakefield.

6-x-6Cypress Equities Names C&W to List 6×6 a Major New Retail Development
The Registry, September 20
Led by Vice Chairman, Kazuko Morgan and Senior Managing Directors, Pamela Mendelsohn, and Vikki Johnson, the Cushman & Wakefield team is spearheading commercial leasing of 6X6, the largest retail development in San Francisco since the Westfield San Francisco Centre.

Cushman & Wakefield Represents Huge Industrial Complex in N. Cal
The Registry, September 19
Dermody Properties, a national industrial real estate owner-operator headquartered in Reno, Nev., recently announced it will develop a 622,726-square-foot industrial facility in Lathrop, California. John McManus, John Coons and Mark Dowling of Cushman & Wakefield representeded development.

Real Estate Developers Stake out Sonoma Co. Warehouse Turf
N. Bay Business Journal, September 19
Warehouses are hot merchandise in Sonoma County these days. Two commercial-land sales north of Santa Rosa totaling about 50 acres were purchased by developers with deep local history recently. Cushman & Wakefield’s Steven Leonard, Trevor Buck and Brian Foster brokered the leases.

Global Leader in Intravascular Imaging Renews Lease in Rancho Cordova Costar.com, September 11
Sean Mullen, Kevin Partington, Chris Schwarze and Bruce Hohenhaus of Cushman & Wakefield brokered the renewal on behalf of the owner.

Investors Buy Retail Building as Saks Fifth Avenue Men’s Store nears departure
SF Business Journal, September 21
The retail building that is home to the Saks Fifth Avenue Men’s Store in San Francisco’s Union Square has been sold, about a month before the tenant’s lease expires. Kazuko Morgan to lease building.


brooks-pedder-warehouse-cushmanLarge Warehouses Roll into Napa, Solano Counties
North Bay Business Journal , September 11
Construction hums along on 1.5 million square feet of warehouse space in Napa and Solano counties to meet demand from companies needing to store and move a large amount of North Coast wine and other goods coming into and going out from the San Francisco Bay area. Cushman & Wakefield’s Walnut Creek Managing Principal Brooks Pedder is featured.

Sublease Growth Tapers
The Registry, September 21
Office space available for sublease has continued to grow in San Francisco, but at a more modest pace than late 2015 and early 2016. It suggests the possibility of a “tech wreck” predicted by some observers doesn’t appear likely in the immediate future. Cushman & Wakefield’s Northern California research is cited.

11pyramid
Disrupt CRE Holds Annual Meeting
disruptcre.com, September 15
Technology is quickly changing the landscape of how the CRE industry operates. Top real estate decision makers around the world convened on September 15 at DisruptCRE to find out what’s here now, and what’s next in CRE tech. Cushman & Wakefield veteran Margaret Duskin was among top featured speakers.

Shipyard Industrial to be Leased by Cushman & Wakefield
SF Business Journal, September 21
The San Francisco Shipyard, the largest single commercial real estate project approved in the city, has hired real estate brokerage Cushman & Wakefield as it seeks tenants for 5 million square feet of planned offices, research facilities and commercial space in the Hunters Point neighborhood. JD Lumpkin and Mike Moran are featured.

Saich Way Station in Cupertino Sells
The Registry, September 21
Saich Way Station, a 15,525-square-foot multi-tenant retail center located less than one mile from Apple Inc.’s headquarters in Cupertino, California has been sold. The $16.5 million sales price equates to $1,063 per square foot. Cushman & Wakefield’s Tenny Tsai represented buyer.

Walnut Creek New Safeway to Open at Orchards
East Bay Times, September 18
“We’ve had exceptional interest in the project from both national and regional tenants, and we’re excited to get the project open this year and get it going,” said James Chung, an executive managing director with Cushman & Wakefield.

Institutional Investor Partners Acquire Walnut Creek Office Building
Costar, September 21
500 Ygnacio, a four-story, 105,495-square-foot office property at 500 Ygnacio Valley Rd. in Walnut Creek, CA was recently sold.  Built in 1987, the office property was 86% leased at the time of sale. George Eckard, Adam Lasoff and Seth Siegel of Cushman & Wakefield represented the seller.

San Jose City Council to Grant Multimillion $ Project
Silicon Valley Business Journal, September 22
This November, San Jose residents will be asked to tax themselves when they vote on a sales tax to fund the BART extension and road improvements throughout Santa Clara County. Cushman & Wakefield Northern California research is cited.

OTHER BREAKING NEWS: DONE DEALS & OTHER VICTORIES – RECENTLY CLOSED TRANSACTIONS

How to Get News Coverage for Your Deals:
If you are a Cushman & Wakefield broker or service line leader and you wish to feature a major transaction, please contact mike.kirner@cushwake.com

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