Top commercial real estate deals and the people who made them happen

Commercial property shopping rises

April 30, 2012

Businesses are out in greater numbers shopping for real estate to buy and lease, but local commercial property experts are quick to note that it’s not the surge of activity seen in recent months in other parts of the Bay Area. [read more]

The “Top Deals and the People Who Made Them Happen” represent the top leases and sales for each Marin, Napa, Solano and Sonoma counties. They are based on submissions from the largest brokerages and Business Journal research. Sales and leases are listed separately by county.Marin County leasesSan Rafael Corporate Center, 770 & 790 Lindaro St., San RafaelSize: 120,338 square feetTenant: BioMarin Pharmaceutical, Inc.Procuring: Mark McGuire of Colliers InternationalOwner: Seagate Properties, Inc.Listing: Trevor Buck and Steve Leonard of Cassidy TurleyCompleted: December 2011

Novato-based BioMarin signed a 10-year lease for all of 770 Lindaro and two floors of 790 Lindaro. The lease with Seagate Properties of San Rafael brought the 318,000 square feet of class A office space in the four existing buildings to 85 percent occupancy. BioMarin plans to relocate several hundred employees from its Bel Marin Keys headquarters plant to downtown San Rafael by the end of this year. [See the story "BioMarin to move 'several hundred' to San Rafael," Jan. 6.]Hamilton Landing, 10 Hamilton Landing, NovatoSize: 64,231 square feetTenant: Visual Concepts Entertainment, Inc.Owner: Barker Pacific GroupListing: Brain Eisberg, Haden Ongaro and Mark Carrington of Cornish & Carey Commercial Newmark Knight FrankCompleted: April 2011

Visual Concepts, a division of Take-Two Interactive Software and makes video games under the label 2K Games, renewed its lease for an entire class A office space renovated hangar. "With the cost of tenant improvements and moving, tenants are likely to renew if existing space continues to serve the needs of the tenant," said Brian Eisberg of Cornish & Carey Commercial.3210 Kerner Blvd., San RafaelSize: 29,982 square feetTenant: 32Ten Kerner Blvd.Procuring: Haden Ongaro and Mark Carrington of Cornish & Carey Commercial Newmark Knight FrankOwner: Bon Air DevelopmentListing: Haden Ongaro and Mark CarringtonCompleted: December 2011

Movie industry veterans led by longtime Dolby executive Tim Partridge reopened the legendary Industrial Light & Magic sound stage and first THX theater at 3210 Kerner Blvd. in San Rafael as a movie production studio. They leased part of the adjoining property for a model shop. [Read the Feb. 6 story "New life for ex-ILM studio in San Rafael."]Regency Center, 100 Smith Ranch Rd., San RafaelSize: 24,996 square feetTenant: Kaiser Foundation Health Plan, Inc.Procuring brokerage: Jones Lange LaSalleOwner: Pell DevelopmentListing: Whitney Strotz and Bryan Vidinsky of Cassidy TurleyCompleted: July 2011

Among the health care-related companies growing and expanding in Marin County, the health maintenance organization leased the majority of the second floor at the three-story, 104,000-square-foot Regency Center. The move into ready-to-occupy former Autodesk space allowed Kaiser to consolidate administrative functions from San Rafael Medical Center and Marin Commons to offices next to existing Kaiser administrative offices. [See the story "Kaiser administration in San Rafael to relocate," Aug. 25.]60 Leveroni Ct., Ste. 200, NovatoSize: 19,916 square feetTenant: Ultragenyx PharmaceuticalProcuring: Mark Carrington and Haden Ongaro of Cornish & Carey Commercial Newmark Knight FrankOwner: Condiotti Enterprises, Inc.Listing: Brian Foster and Steve Leonard of Cassidy TurleyCompleted: July 2011

This is another example of biotechnology and medical companies on the move in Marin County. Former BioMarin Pharmaceutical Chief Medical Officer Emil Kakkis formed and funded Ultragenyx in April 2010. Like BioMarin in its pursuit of treatments for rare diseases, the startup closed $45 million in series A funding in June. One of the challenges in completing the lease was managing the company's expectations for the extent and timing for the buildout of the new facility, according to the Cassidy Turley team. [Read the story "Ultragenyx receives $45 million in funding," June 20.]2700 Bridgeway Blvd., SausalitoSize: 10,914 square feetTenant: CartelligentProcuring: Brian Foster of Cassidy TurleyOwner: Winblad AssociatesListing: Bruce McClellan of McClellan Real EstateCompleted: December 2011

Sealing this deal required Cartelligent to roll out for the the property owner the needs of such a fast-paced business, according to Brian Foster of Cassidy Turley. "Even in strengthening markets such as southern Marin, tenant retention is still priority number one for landlords," he said. "Large blocks of space do not see the activity that smaller spaces do, and larger vacancies can sit empty for quite a while."160 Mitchell Blvd., San RafaelSize: 10,644 square feetTenant: Worldwise, Inc.Procuring: Not available.Owner: California Realty Services, LLCListing: Trevor Buck of Cassidy TurleyCompleted: October 2011

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