It was a very busy March news calendar for Cushman & Wakefield N. California. Among many other online news platforms Forbes.com, Bloomberg, ABC News, SF Business Times featured a variety of stories citing C&W Research, our thought leaders, awards, special events and transactions. Even east coast based The Washington Post and international news agency Reuters are interested in what’s going on in the red hot San Francisco commercial real estate market.
Serious Social Sharing in the Social Stratosphere
This blog: blog.cushwake.com enjoyed a frenzy of sharing on Lindedin, Twitter and other social platforms this past month. Blog comments ( for those of you who are conscious of their personal brand) help to make our stories more popular online, encourage sharing by others and build the Cushman & Wakefield brand, as well as individual brands. Collectively, it’s what the Social Stratosphere is all about.
Jobs. Woz. Lewerenz
A special shout out to Senior Director and CRE industry veteran John Lewerenz for getting his name mentioned in the same Reuters article as Steve Jobs and Steve Wozniak, who created the world’s most valuable brand. ………….talk about building your brand. Anyone remember the first time you turned on your first Mac Plus pc and slid little square floppy disks into the tiny slot underneath the Apple logo? This was a time when you were really delighted with your 10 megabytes of RAM. We’ve come a long way.
March News Coverage
Sublease Space: A Bay Area Conundrum
The Registry, March 31
While some San Francisco real estate observers worry a sizable increase in office space available for sublease may signify a potential property “tech wreck” in the works, others view an increasing amount of available space as more of a corrective adjustment that’s creating some benefit. Drew Arvay, senior vice president in the San Jose office of Cushman & Wakefield is quoted.
C&W N. CA has Multiple Winners @ SF Biz Times Deals of the Year
blog.cushwake.com, March 30
Each year, the SF Business Times recognizes the biggest and boldest deals of the previous year. Among the winners were:
Best Land Lease
Northwestern Chess-Hatch Land sale
Mike Moran and Ben Paul of Cushman & Wakefield
Best Office Lease
SurveyMonkey at Bay Meadows Station 4
Tenant brokers: David Hiebert and Colin Feichtmeir of Cushman & Wakefield
Best Research & Development Deal
Seller’s brokers: Adam Lasoff, Grant Lammersen, Seth Siegel and George Eckard , Michael McMillan of Cushman & Wakefield
Cushman & Wakefield Walnut Creek Has Banner Year: Announces Top Producers 2015
blog.cushwake.com, March 31
Walnut Creek Market Leader Brooks Pedder announces the 2015 Top Producers. Among other prominent deals, the relocation of Del Monte Foods from San Francisco to the East Bay resulted in a banner year. Brokers Eugene McGrane, Brooks Pedder, Todd Vitzhum, John Fennel and Sabrina Hughes are acknowledged.
Tech Slowdown Seen in San Francisco’s Commercial-Property Market
Washington Post, March 29
“It’s the beginning of the change,” said Kenneth Rosen, chairman of the Fisher Center for Real Estate and Urban Economics at the Haas School of Business at the University of California, Berkeley. “We’re very early in the correction process. It’s going to take several years to play out, and we don’t know how deep it will be.”
SF Office Market To Slowdown for Next 5 Years
biznow.com, March 28
Statistics point to strong growth in employment throughout the nation and in the Bay Area. Bisnow spoke with with Cushman & Wakefield’s Northwest US research regional director Robert Sammons to make sense of the numbers.
Office Subleasing, an Early Indicator of Past downturns, At Highest Level Since 2010
Bloomberg, March 25
San Francisco’s commercial real estate market may be foretelling a slowdown in the city’s heated technology-driven economy. The amount of available space from subleases in the city jumped to 1.9 million square feet (176,500 square meters) last month, according to a report from Cushman & Wakefield Inc. Twitter Inc., Intuit Inc., and Zenefits are among tech companies putting excess space on the market
This Is How You Know the Tech Boom Is Slowing Down
fortune.com, March 24
The death of the Unicorns, those startup companies with valuations of $1 billion or higher, have been the talk of Silicon Valley for the past several months. Some venture capitalists have kept secret lists of those declining companies and many insiders have their proprietary predictions. Cushman & Wakefield’s Robert Sammons is quoted.
Tech Slowdown Seen in SF CRE Market
mpamag.com, March 25
San Francisco’s commercial real estate market may be foretelling a slowdown in the city’s heated technology-driven economy. Office subleasing, an early indicator of past downturns, is at the highest level since 2010. The amount of available space from subleases in the city jumped to 1.9 million square feet (176,500 square meters) last month, according to a report from Cushman & Wakefield Inc.
Rubio’s Coastal Grill Expanding in San Jose
The Registry, March 25
Rubio’s Coastal Grill, formerly Rubio’s Restaurants, has signed a lease for a new 2,794 square foot restaurant at the Brokaw Plaza shopping center in North San Jose, CA. Michael Seigel and Sharon Carmichael with Cushman & Wakefield’s Retail Services group represented the tenant.
Popular Sacramento Cycling Studio To Open New Location
Sacramento Business Journal, March 24
A locally owned cycling studio that’s gained a following in East Sacramento and midtown is coming to the suburbs. TEAMride plans to open a Folsom location this summer, co-owner Michelle Katnik confirmed on Friday. Broker Blake Batula of Cushman & Wakefield represented the tenant.
Renovated Westgate Center Adds New Stores in San Jose
The Registry, March 25
The recently renovated Westgate Center in West San Jose, CA is adding a new hot, hip, fashion-forward clothing and accessory store, Torrid. Operated by Hot Topic, a mall- and web-based specialty retailer, Torrid features a collection of plus size clothing and accessories. James Chung, Rhonda Diaz Caldewey and Sam Tallman with Cushman & Wakefield’s Retail Services Group in San Jose represented Federal Realty’s Westgate Center.
Former Vogue editor Emily Holt Opening Boutique in Saratoga Hotel in San Francisco
The Registry, March 25
Hero Shop will be opening a new 3,128 square foot retail boutique in The Saratoga at 982 Post Street in San Francisco. The store is a highly curated fashion and lifestyle store from former Vogue editor Emily Holt. Cameron Baird with Cushman & Wakefield’s Retail Services Group in San Francisco represented the landlord.
Bay Meadows Bet Pays Off for Developers as SurveyMonkey Signs Peninsula Lease
SF Business Times, March 25
When SurveyMonkey Inc. agreed in August to move its headquarters to San Mateo’s Bay Meadows, the company cast an important vote for the experiment in building urban-style tech campuses in the middle of the suburbs. Tenant brokers were David Hiebert and Colin Feichtmeir of Cushman & Wakefield.
Exploring 6 Bay Area Toby Winners
Biznow.com, March 21
The Building Owners and Managers Association (BOMA) has selected the Bay Area recipients of The Outstanding Building of the Year (TOBY) awards based on a wide selection of criteria, including operational efficiency, tenant retention, emergency planning and community impact. Managed by Cushman & Wakefield, 201 Spear St was the winner of the TOBY for properties ranging between 250,000 – 499,999 SF
Sacramento Office Pitches In at Local Food Bank & Family Services
blog.cushwake.com, March 23
Giving back to support communities and those less fortunate is a priority at the heart and soul of the Cushman & Wakefield global brand. With 250 offices in 60 countries, our firm is committed to encouraging employees to get involved with the neighborhoods in which we do business. Sacramento Market Leader Ron Thomas is quoted.
Real Estate Researchers Predict Bay Area Office Market Slowdown Through 2021
The Registry, March 21
Cushman & Wakefield regional director Robert Sammons forecast mixed housing and office markets for the next five years during a recent industry meeting of Bay Area real estate developers, investors, builders and lawers, expressing his concern that changes are needed if San Francisco is to continue growing.
Few Industrial Options in North Bay Hwy. 101 corridor
North Bay Business Journal, March 20
The industrial market in the North Bay has been very strong for the last three years. With limited inventory and relatively limited building, we continue to experience falling vacancy rates and rents rising to historical levels. Steven Leonard, senior vice president, Cushman & Wakefield is featured.
Southern Marin Asking Rates Jump as Vacancy Drops
North Bay Business Journal, March 20
Largely driven by limited supply of quality options and the strong San Francisco market, this office submarket saw an 8.4 percent increase in asking rates and a 17 percent reduction in vacancy over the past year. Whitney Strotz, senior managing director, Cushman & Wakefield is highlighted.
KangaZoom Bouncing into Antioch
The Registry, March 17
A KangaZoom franchisee, Andreas Angles, LLC, will soon open an new Indoor Children’s Inflatable focus Entertainment Center in Antioch, CA. Located on the site of the former Antioch Family Fun Center that shuttered several years ago, KangaZoom’s lease is composed of a 7,540 square foot main building . Scott Bertrand with Cushman & Wakefield’s Walnut Creek office represented the tenant in the transaction.
Historic Property in Downtown Sausalito, CA Sells to Popular Local Clothier
The Registry, March 17
After nearly half of a century the historic building at 676-686 Bridgeway in downtown Sausalito, CA has traded hands. The Demoss Family Trust sold the ±9,000 square foot, two-story property to Only in Sausalito, LLC, a local clothing business that also operates several stores in neighboring San Francisco. Cameron Baird, Dan Wald and Eric Kathrein, represented the seller. Brian Foster of Cushman & Wakefield’s North Bay office solely represented the buyer.
Cushman & Wakefield Hires CRE Veteran Don Lebuhn
SF Business Times, March 16
CRE industry veteran Don Lebuhn and his team have joined Cushman & Wakefield. This is a subscription article only. For more information, check out our blog story on Don and his team.
Shipping Containers: Home Sweet Home
ABC News, March 16
In one of the most expensive real estate markets in the country, startup Campsyte is leasing office space in shipping containers. The average cost of San Francisco’s asking rent is a record $68.14 per square foot, up from $66.71 in the third quarter of 2015, according to brokerage Cushman and Wakefield.
Apple’s San Francisco Office: Tool in Tech Talent Wars?
Reuters, March 3
From Apple’s(AAPL.O) earliest days, executives insisted that employees work from its headquarters in sleepy suburban Cupertino. The thinking, championed by Steve Jobs, was that a centralized campus would put the CEO “within walking distance of everyone,” said Steve Wozniak, who founded the company with Jobs. Cushman & Wakefield’s John Lewerenz is quoted.