Here are some other significant stories from 2013:Basin Street returns to Marin
MILL VALLEY -- Basin Street Properties, which owns dozens of office, industrial and retail buildings in Sonoma County, returned to the Marin County office market after an eight-year absence with the purchase of the 98,652-square-foot Shoreline Office Center along Richardson Bay.
Basin Street on Oct. 24 bought it from an affiliate of Equity Office Properties for $22.25 million, or $225 a square foot.
“With the office market in Marin County experiencing a substantial resurgence in recent years, especially in light of skyrocketing San Francisco rates coupled with falling vacancy rates, Shoreline is the perfect property for us to make our re-entrance here after selling our Novato properties in 2005,” said Matt White, president and chief executive officer of Reno-based Basin Street Properties. “Shoreline’s waterfront location, proximity to Marin County’s beautiful landscape, and short drive to San Francisco is ideal for many businesses that value a strategic and accessible location for employees, like Glassdoor.”
Glassdoor, a 6-year-old creator of a website that provides jobseekers with an internal look at company culture, in late June signed a lease for 30,500 square feet at Shoreline. The company plans to relocate from Sausalito in early 2014 and intends to have around 200 employees at that time.---Jeff QuackenbushCyan raises $91 million in IPO
PETALUMA -- Cyan Networks (NYSE: CYNI) raised $91 million in a public offering in May and plans to expand next door.
Founded in 2006 by telecom valley veterans, Cyan has grown from 30 employees to 103 in 2011 to over 300 today. The company reported revenues of $96 million in 2012.
Cyan is set to occupy 38,000 more square feet of office space in a 56,000-square-foot building under construction. Occupancy is set for late 2014.
Cyan sells its software-defined networking systems -- designed to better manage the growing amounts of data generated by mobile devices, social media and cloud-based computing -- to Internet service providers, governments, companies and other enterprises. ---Loralee StevensGlassdoor gets $50 million in more funding
SAUSALITO -- Glassdoor, the user-generated site for employees to rate companies and employers to find employees, closed $50 million in venture funding early in December, bringing total capital investment in the 6-year-old company to nearly $93 million.
According to Glassdoor CEO and co-founder Robert Hohman, the company plans to use the capital to expand its team, accelerate international expansion and further invest in products for job-seekers and employers. Glassdoor plans to expand its workforce, now at 200, by 100 employees during the coming year.
The company plans to relocate to 30,000 square feet of office space in San Rafael early next year.---Loralee StevensWine producer Truett-Hurst goes public
HEALDSBURG -- Truett-Hurst, Inc. (Nasdaq CM: THST) had net proceeds of $14.1 million from an initial public offering of stock in June.
Those proceeds, net of fees and expenses related to the IPO, were being used to purchase ownership in Healdsburg-based wine producer H.D.D., LLC, started by wine industry veterans Phil Hurst, Paul Dolan, Heath Dolan, Bill Hambrecht, Dan Carroll and Virginia Lambrix. The wine company, in turn, will use that money to pay down its credit facility, for working capital, capital spending and hiring.
Brands include Truett Hurst, VML, Bradford Mountain, Evocative Wraps, Curious Beasts, The Wine With No Name and The Supper Club.
Truett-Hurst had looked to raise $21.6 million in the IPO of 2.7 million shares, which would be more than $8 a share, before IPO costs.
The stock started trading June 19 at $5.94 a share. The closing price per share Tuesday was $5.85, up 5 cents. The stock price rebounded -- reaching $4.37 on Tuesday -- after falling to $3.39 in early December.---Jeff QuackenbushDowntown Napa shopping center gets mixed-use makeover
NAPA -- Downtown Napa has been undergoing a retail renaissance over the past several years, and now the downtown shopping center is undergoing a mixed-use makeover that will bring a luxury hotel and 30,000 more square feet of shop space.
Set to fully open in fall 2015, the project, now called Napa Center, is set to create a shopping and lodging district with 153,000 square feet of space for 40 stores and restaurants plus a planned Archer Napa four-star luxury hotel.
Zapolski, which has offices in Durham, N.C., and Napa, in November announced a joint venture with Fort Worth, Texas-based Trademark to buy and rehabilitate the 20,000-square-foot Gordon Building on First Street. Earlier this year, Zapolski inked a deal with LodgeWorks Partners, LP, to develop and run the hotel.