Leaders in commercial real estate development

(This spotlight on major commercial developers is comprised of companies and their leadership that have undertaken major projects in the North Bay. They are listed first by county and then alphabetically by company.)

SONOMA COUNTYLarry Wasem, managing general partner, Airport Business Center414 Aviation Blvd., Santa Rosa 95403; 707-578-5344; airportbusinesscenter.com

[caption id="attachment_64224" align="alignleft" width="180"] Larry Wasem[/caption]

North Bay project: Airport Business Center phase 7, Windsor -- the latest expansion to the 463-acre business park has 17 acres of industrial land.

Airport Business Center, located near Charles M. Schulz--Sonoma County Airport north of Santa Rosa,  is the North Bay's largest business park. Larry Wasem and Richard Coombs started the park, and the other holdings include the 50 Old Courthouse Square office building and two movie theaters in downtown Santa Rosa as well as golf courses in Windsor and Petaluma.

Airport Business Center has about two dozen acres left to develop, including five of the 17 acres in the development's phase 7, located along Conde Lane in Windsor. Wine Country Shipping signed a build-to-suit deal for a 31,000-square-foot distribution facility to be built in that phase. Current occupants there are DuMol and Marcassin wineries and retailer Tractor Supply Co.

The business park recently also sold 3.5 acres, with options on another 7.5 acres, to Santa Rosa-based American AgCredit, and the park is managing a project to build 50,000 square feet of offices. A manufacturer has made initial inquiries about a 100,000-square-foot build-to-suit project.

"That's five times the activity we've seen in four years," Larry Wasem said. Having land with proper zoning and entitlements and staff skilled in financing at a time when construction and permanent lending terms are getting more competitive is an advantage for the business park, he said.Barney Aldridge, chief executive officer, Aldridge Management and Highway Partners, LLCP.O. Box 1771, Ross 94957; 707-824-5600; thebarlow.net

[caption id="attachment_64225" align="alignleft" width="180"] Barney Aldridge[/caption]

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