Raydiance, developer of next-generation laser technology, is considering a major expansion in Petaluma this year.
A site for an expansion pointed to by real estate sources is a vacant 42,000-square-foot former Cisco Systems research-and-development building at 1450 N. McDowell Blvd. The company currently occupies about half that amount of space at 2199 S. McDowell Blvd.
Raydiance Chief Executive Officer Dick Pierce last week wouldn't confirm any plans, calling them "rumor and speculation." He said similar rumors recently had the company expanding into RNM Properties' South McDowell Landing at the southern end of Petaluma.
That's where Camelbak expanded in 2008 and Gap's fast-growing Athleta division last year doubled in size to 40,000 square feet. Enphase Energy was said to be in final negotiations to expand there before leasing 96,000 square feet at Basin Street Properties' Sequoia Center complex elsewhere in the city.
Cornerstone Properties, owner of 1450 N. McDowell, declined to comment.
Raydiance has been growing quickly since it moved to Petaluma from Florida several years ago. The company has received about $50 million in investments, including $3.8 million raised last spring, to commercialize its ultrafast laser pulse technology for ablating -- removing -- material without generating heat. Applications include targeting human cells and highly precise manufacturing.
At the time of the last funding round, the company was projecting it would employ up to 70 employees by the end of 2011.
Santa Barbara-based multifamily property investment firm Nevins Adams Lewbel Schell, or NALS, purchased the 292-unit Rolling Oaks luxury apartment complex at 3700 Lyon Road in Fairfield for $52 million, or about $178,000 a dwelling.
The 15-building complex, built in 2001, has one- to three-bedroom units listed for lease at $1,209 to $1,829 a month. The sale price was the second-largest for a North Bay multifamily property in 2011, following $68 million for 492-unit Enclave at Adobe Creek in Petaluma in February.