Top North Bay commercial real estate developers in 2016
This spotlight on major commercial developers is comprised of companies and their leadership that have undertaken major projects under construction in the North Bay.
Larry Wasem
Managing General Partner, Airport Business Center
414 Aviation Blvd., Santa Rosa 95403; 707-578-5344; airportbusinesscenter.com
North Bay projects: American AgCredit headquarters - 120,000-square-foot office complex in Airport Business Center. 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 part of the 17 acres in phase 7 of the development, located along Conde Lane in Windsor. Current occupants there are DuMol and Marcassin wineries, Tractor Supply Co. and Wine Country Shipping.
Construction started in April 2014 on a new home for Santa Rosa-based American AgCredit on 7.5 acres at the northwest corner of Airport and Aviation boulevards. The lender plans to occupy 85,000 square feet in this fall and lease the rest to agriculture-focused agencies and trade groups.
Matt White
CEO, Basin Street Properties
1383 N. McDowell Blvd., Ste. 200, Petaluma 94954; 707-795-4477; basin-street.com
North Bay projects: Approvals to build 300,000 square feet of office buildings at Fountaingrove Executive Center in northeast Santa Rosa, Harvest Business Center by Charles M. Schulz–Sonoma County Airport, Redwood Business Center in northeast Petaluma and Petaluma Marina Office Center in southeast Petaluma. Approval for 90,000 square feet of commercial space at the mixed-use Riverfront property in Petaluma.
Basin Street Properties emerged as the North Bay’s high-technology landlord in Petaluma’s Redwood Business Park three decades ago. As the tech-led recession of 2001 led to higher vacancies in local tech companies, Basin Street sold 1.45 million square feet of office space in Sonoma and Marin counties in 2005 and relocated its headquarters to Reno, Nev., in 2009 as the company focused on hospitality, multifamily, retail and mixed-use projects elsewhere in Northern California and in the Reno area.
Starting in 2011, Basin Street shifted its focus back to the North Bay, reacquiring and purchasing more than two dozen office buildings in Santa Rosa, Petaluma, Mill Valley and Novato.
Basin Street broke ground in fall 2014 on a 56,000-square-foot office building at Redwood Business Center to house 38,000 square feet of expansion for telecommunications equipment and software developer Cyan later this year. In July 2014, the Petaluma City Council adopted the environmental report for the 39-acre Riverfront project, which would build 90,000 square feet of commercial space, 273 dwellings and a 120-room hotel at 500 Hopper St. between Highway 101 and the Petaluma River.
With a quarter-century of commercial property development and realty experience in Nevada, Par Tolles joined Basin Street as chief operating and financial officer in 2011 and was promoted to president in July. Mr. White said he will remain active in the company’s vision, financial planning and development.
Kevin Ramos
Chief Investment Officer, The Buzz Oates Group of Companies
8615 Elder Creek Rd., Sacramento 95828; 916-379-3800; buzzoates.com
North Bay projects: Vacaville Business Park, Vacaville - 128,000-square-foot warehouse, completion in first quarter; 350,000-square-foot warehouse at Crocker Drive and Aldridge Road, start in second quarter and complete by year-end. Solano Logistics Center, Fairfield - 37,000-square-foot flex building, in design for construction in early 2016. The Olive Oil Factory, Fairfield - 92,568-square-foot bottling plant, distribution warehouse and tasting room, under construction.
Business park developer and general contractor Buzz Oates Group of Companies is no stranger to Solano County development. It purchased land next to Nut Tree Airport in Vacaville two decades ago and has spent the last 15 years building out Vacaville Business Park, adding 1.4 million square feet there in 12 buildings. Completion of Pacific Cycle’s 600,000-square-foot expansion building was done for occupancy July 17.
Because of demand for space, the company plans to have more than 1 million square feet of warehouses rising on 62 of the remaining 70 acres of Vacaville land in the next 12 months. Set to be built next year are a 122,000-square-foot warehouse on eight acres next door to Pacific Cycle’s new facility and a 350,000-square-foot warehouse on 22 acres at the southwest corner of Crocker Drive and Aldridge Road.