(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]
North Bay project: The Barlow, Sebastopol -- 11 new light-industrial and retail buildings with 96,000 square feet of space; under construction; property acquired for $12 million, $23 million in construction financing.
Barney Aldridge owns and manages 240,000 square feet of office, retail and industrial space in Sebastopol and Boulder, Colo. Sebastopol Industrial Park, which includes The Barlow redevelopment project of the former Barlow Co. apple-processing plant on Morris Street at the eastern city entrance, was acquired in 2006 for $12 million. The 125,000 square feet of existing industrial space is fully leased.
Construction started early this year on replacing the Barlow building with 11 concrete-and-steel-framed buildings, extension of McKinley Street to connect with Morris Street and central development outdoor stage. The development has two dozen tenants and is about 80 percent leased, according to Mr. Aldridge. Kosta Browne Winery's barrel cellar opened in October, and its production facility is set to be complete in December. Taylor Made Coffee is set to occupy its space in January. Other occupancies are planned in the first half of 2013.
"The community wanted the property to remain what it was in industrial uses and have a campus of artisan producers," Mr. Aldridge said. With Rialto Cinemas taking over the theaters near the property and a new connecting street from Highway 12 past the city plaza to Highway 116, the site will become a cultural hub, he said. "Sebastopol needs a place to gather, because it is a crossroads and has not had a center for the community."Matt White, president and CEO, Basin Street Properties1383 N. McDowell Blvd., Ste. 200, Petaluma 94954; 707-795-4477; basin-street.com