Top commercial real estate deals in the North Bay
The past 12 months have brought the North Bay a string of large leases and property sales, including bulk transactions.
The region's biggest current project coming out of the ground and its largest commercial real estate lease is for Pacific Cycle, whose mass market-oriented bicycle brands are among North America's top sellers.
Construction started in September on a 597,896-square-foot warehouse on Cessna Drive in Vacaville Business Park for the company's West Coast distribution center. In addition, Pacific Cycle will retain one of its existing warehouses, located at 2031 Cessna Dr. and totaling 227,430 square feet, giving the company more than 825,000 square feet in those deals.
Sacramento-based Buzz Oates Group of Companies, developer of the business park, plans to have the $35 million Pacific Cycles project finished late this year. That's in addition to a 137,000-square-foot warehouse Buzz Oates Group is building for Saxco International as an addition to its Solano Logistics Center on Cordelia Road in Fairfield.
The North Bay's largest sale deal since the second quarter of last year was another bulk purchase of office buildings in Sonoma County. Reno, Nev.-based Basin Street Properties purchased 11 Petaluma office buildings with 569,000 square feet of space. The sale price was about $70 million, according to county documents and real estate experts. Those properties were the lion's share of RNM Properties portfolio of existing buildings in the North Bay, and they were sold in bulk to Investcorp International and Napa-based PB&J Acquisitions in February 2012 for $65 million.
After selling 44 North Bay office buildings at the top of the market in 2005, Basin Street returned at the bottom of the market in 2011, rebuying eight at that time and 14 more the following year.
The following are the largest leases and sales in Sonoma, Solano, Marin and Napa counties reported to the Business Journal
by brokerages for the period of the second quarter of 2014 through the first quarter of this year.
Marin County Leases
655 Du Bois St., #F, San Rafael
Square foota
ge: 47,324
Property type: Industrial
Tenant: RG Environmental Holdings, Inc.
Procuring and listing: Haden Ongaro, Alisa Belew & Mark Carrington of Newmark Cornish & Carey
Owner: Francisco Business Center
Date: Dec. 17, 2014
2320 Marinship Way, Sausalito
Square footage: 36,402
Property type: Office
Tenant: Sitecore USA, Inc.
Owner: MCSSM, LLC
Listing: Brian Eisberg, Meryl Sebestyen & David Walwyn of Newmark Cornish & Carey
Date: June 16, 2014
201–207 Flamingo Rd., Mill Valley
Square footage: 26,400
Property type: Retail
Tenant: Good Earth Shoreline, Inc.
Procuring: Mark Koenig & Matt Brown of Meridian Commercial
Owner: Parish-Martin I, LLC
Listing: Bob Knez of HL Commercial Real Estate
Date: Sept. 8, 2014
454 Du Bois St., San Rafael
Square footage: 25,000
Property type: Industrial
Tenant: Tesla Motors, Inc.
Procuring: Keegan & Coppin Co., Inc./ONCOR International
Owner: D.R. Stephens, LLC
Listing: Jeff Traynor of Newmark Cornish & Carey
Date: Dec. 18, 2014
60 Leveroni Ct., Novato
Square footage: 24,846
Property typ
e: Office
Tenant: Ultragenyx Pharmaceutical
Procuring: Haden Ongaro & Mark Carrington of Newmark Cornish & Carey
Owner: Condiotti Enterprises Inc.
Listing: Brian Foster & Steven Leonard of DTZ
Date: July 1, 2014
Marin County sales
Marin Executive Center, 4000 Civic Center Dr., San Rafael
Square footage: 142,364
Property type: Office
Buyer: SFF Mec, LLC (PSAI Realty Partners)
Seller: BIT Holdings Forty-Five, Inc.
Listing: Robert Gilley & Steve Hermann of DTZ
Date: June 10, 2014
Price: $31,000,000
4040 Civic Center Dr., San Rafael
Square footage: 130,000
Property type: Office
Buyer: Mach II 4040, LLC (Ellis Partners, LLC)
Seller: Kilroy Realty, LP
Listing: George Eckard of Cushman & Wakefield
Date: Oct. 31, 2014
Price: $34,900,000
21–33 Duffy Pl., San Rafael
Square footage: 48,379
Property type: Industrial
Buyer: Professional Financial Investors, Inc.
Procuring: Bryan Vidinsky & Brian Foster of DTZ
Seller: FJM Duffy Associates, LLC
Listing: Bryan Vidinsky of DTZ
Date: April 7, 2014
Price: $7,975,000
Margarita Plaza, 36 Mitchell Blvd., San Rafael
Square footage: 30,000
Property type: Office
Buyer: North River, LLC
Seller: Jorgensen Properties
Listing: Steve Easley with DTZ
Date: Dec. 16, 2014
Price: $6,000,000
Fairfax Woods, 2501–2505 Sir Francis Drake Blvd., Fairfax
Square footage: 19,550 (32 units)
Property type: Multifamily
Buyer: Kalania Place, LLC
Procuring: Steven Level of Bradley Real Estate
Seller: LS 2501, LLC
Listing: Bob Butler of The Robert Butler Co.
Date: June 30, 2014
Price: $5,500,000
171 & 181 Third St., San Rafael
