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

JQUACKENBUSH

April 30, 2012

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

The 22-year-old maker of environmentally friendly products for pets renewed its headquarters lease.Napa County leasesNapa Valley Gateway Business Park, 80 Technology Ct., NapaSize: 128,000 square feetSubtenant: Wineshipping.comSublessor: Constellation BrandsListing: Glen Dowling, Matt Bracco and Chris Neeb of Cushman & WakefieldCompleted: March 2011

Sonoma-based wine direct shipping and logistics provider Wineshipping.com, which has fulfillment hubs in the key winegrowing regions of California's Central Coast and upstate New York, is taking advantage of Constellation Brands consolidation of North Coast operations to expand to Napa Valley.Napa Valley Gateway Business Park, 50--80 Technology Ct., NapaSize: 65,000- and 50,000-square-foot dealsSubtenant: Biagi Bros. Transportation & WarehousingSublessor: Constellation BrandsListing: Glen Dowling, Matt Bracco and Chris Neeb of Cushman & WakefieldCompleted: January 2011 and 2012

Napa-based Biagi Bros. absorbed 115,000 square feet of warehousing space left vacant when giant Constellation Brands consolidated its North Coast back-end operations amid post-recession inventory adjustments. [Read the story "Napa-Solano industrial property market recovering," March 12.]Green Island Industrial Park, 677 Hanna Dr., American CanyonSize: 70,000 square feetTenant: Boisett Family EstatesProcuring: Glen Dowling, Matt Bracco and Chris Neeb of Cushman & WakefieldOwner: Stravinsky DevelopmentListing: Steve Brock of ICC/Stravinsky DevelopmentCompleted: September 2011

Rutherford-based Boisset Family Estates relocated its wine warehousing from Benicia to ICC/Stravinski in the recently built 307,000-square-foot warehouse. [Read the story "Napa industrial, retail real estate strengthens," Feb. 12.]Green Island Industrial Park, 801 Hanna Dr., American CanyonSize: 60,000 square feetTenant: Groskopf Warehouse & LogisticsProcuring: Kevin Doran and John Rico of Keegan & Coppin Co., Inc.Owner: Up Valley Associates, LLCListing: Bret DeMartini of Grubb & EllisCompleted: August 2011

Groskopf Warehouse and Logistics is a wine warehousing, logistics and bailment service company. The move is part of expansion plans to acquire a larger space due to increase in wine and glass storage. The company moved to the Napa area to capture a broader market besides Sonoma County. [See the Aug. 15 story "Wine warehouser Groskopf plans expansion."]Napa Valley Gateway Business Park, 445 Devlin Rd., NapaSize: 26,687 square feetTenant: Benchmark Wine GroupProcuring: Chris Neeb of Cushman & WakefieldOwner: Creekside Napa I, LLCListing: Glen Dowling, Matt Bracco and Chris Neeb of Cushman & WakefieldCompleted: March 2012

Creekside Napa, led by the Indelicato vintner family, converted the all-office building, formerly the headquarters of shuttered wine fulfillment provider New Vine Logistics, to 70 percent warehouse for Benchmark's wine storage. "The space fit their requirement well, and it was an attractive deal package," said Glen Dowling of Cushman & Wakefield902 Enterprise Way, Stes. M & N, NapaSize: 7,488 square feetTenant: Mi Sueno WineryProcuring: Michael Moffett of Coldwell Banker Commercial Brokers of the Valley and Bret DeMartini of Grubb & EllisOwner: 900 Business Park, LLCListing: Michael Moffett and Bret DeMartiniCompleted: April 2011841 Latour Ct., Ste. D, NapaSize: 7,215 square feetTenant: American Medical Response WestProcuring: Michael Sharapata of Jones Lang Lasalle Americas Inc.Owner: Latour Court Leasing IIListing: Chris Neeb of Cushman & Wakefield and Michael Moffett of Coldwell Banker Commercial Brokers of the ValleyCompleted: November 2011Napa Valley Gateway Business Park, 211 Gateway Rd. W., NapaSize: 7,200 square feetTenant: Chaudhary AssociatesProcuring: Matt Connolly of Strong & HaydenListing: Bill Kampton of Colliers InternationalCompleted: February 2012Main Street Exchange, 1040 Main St., Stes. 203, 204 & 303, NapaSize: 5,858 square feetTenant: Huneeus Vintners, LLCProcuring: Chris Neeb of Cushman & WakefieldOwner: Joseph Keebler and David MeyersListing: Michael Moffett of Coldwell Banker Commercial Brokers of the ValleyCompleted: July 2011

Part of the makeover of the Main Street Exchange building in downtown Napa were tenant improvements to accommodate 22 employees of Huneeus Vintners, producer of Quintessa, Faust and Illumination, Flowers Vineyards & Winery, Veramonte and Neyen Estate. The Huneeus family wine company wanted its accounting, sales administration and marketing personnel in downtown Napa and relocated them from the Quintessa winery in St. Helena. [Read details in the Nov. 14 wine column.]1541 Third St., NapaSize: 3,588 square feetTenant: TBG WorldwideProcuring: Matt Connolly of Strong & HaydenOwner: n/aListing: Michael Holcomb of Strong & HaydenCompleted: December 2011

Napa-based branding firm TBG Worldwide also has offices in Paris and London.1239 & 1245 First St., NapaSize: 2,600 square feetTenant: Dan and Marguerite CappProcuring: Cathy D’Angelo Holmes of Coldwell Banker Commercial Brokers of the ValleyOwner: Tariq AzrueiListing: Adam Green of Coldwell Banker Commercial Brokers of the ValleyCompleted: February 2012

Longtime Napa Valley winegrape growers and winemakers Dan and Marguerite Capp plan to open a wine tasting venue in downtown Napa, across the street from the entrance to Napa Town Center shopping mall.Solano County leasesCordelia Distribution Center, 5200 Watt Ct., FairfieldSize: 127,665 square feetTenant: Updike Distribution LogisticsOwner: Jim CarlsenListing: Chris Neeb, Glen Dowling and Matt Bracco of Cushman & WakefieldCompleted: March 2011Solano Commerce Center, 2280 Cordelia Rd., FairfieldSize: 126,187 square feetTenant: TricorBraun Inc.Owner: Meyer Cookware Industries, Inc.Listing: Chris Neeb, Glen Dowling and Matt Bracco of Cushman & WakefieldCompleted: September 2011

TricorBraun WinePak, the wine division of St. Louis-based packaging supplier TricorBraun, leased a 126,200-square-foot former Meyer Corp. warehouse to move its Northern California distribution operations to a larger, automated distribution facility. [Read the Nov. 14 story "TricorBraun wine group packs for Fairfield." ]Benicia Industrial Park, 4347 Iowa St. and 626--650 Stone Rd., BeniciaSize: 160,720 square feetTenant: Biagi Bros. Transportation & WarehousingProcuring: Phil Garrett & Brooks Pedder of Colliers InternationalOwner: EOP-Industrial Portfolio, LLCListing: Phil Garrett & Brooks Pedder of Colliers InternationalCompleted: June 30, 2011

Napa-based Biagi Bros. renewed its lease for this warehouse and distribution space.Benicia Industrial Park, 577 & 589 Indiana St., BeniciaSize: 80,000 square feetTenant: Encore Glass, Inc.Procuring: Phil Garrett and Brooks Pedder of Colliers InternationalOwner: EOP-Industrial Portfolio, LLCListing: Phil Garrett and Brooks Pedder of Colliers InternationalCompleted: February 1, 2012

Benicia-based wine bottle supplier Encore Glass leased additional warehouse and distribution space.Benicia Industrial Park, 5341 Industrial Way, BeniciaSize: 52,178 square feetTenant: DGA, Inc. dba Pro-Form LaboratoriesProcuring: Cornish & CareyOwner: Walton CWCA Benicia Warehouse 21 LLCListing: Tony Binswanger and Brian Slocum of Colliers InternationalCompleted: November 9, 2011

Orinda-based powdered nutritional products manufacturer Pro-Form built a 225,000-square-foot manufacturing plant in Benicia in 2003. The company needed warehouse and distribution space.Gateway Plaza, 173 Plaza Dr., VallejoSize: 44,775 square feetTenant: Toys R’ Us/ Babies R’ UsProcuring: Danielle Bromstead, Jim Randolph and Sean O’Carroll of Cornish & Carey Commercial Newmark Knight FrankOwner: Centro Property Owner II LLC (Centro was acquired by Brixmor Property Group)Listing: noneCompleted: December 2011

Toys R’ Us was originally in the market across Plaza Drive in the current Best Buy location, according to the Cornish & Carey Commercial Newmark Knight Frank team representing the retailer. After closing its doors, Toys R’ Us/Babies R’ Us discovered leaving the location left a significant void. The right location became available that could both accommodate the firm’s newer side-by-side concept and fill out its footprint. Now, Toys R’ Us and Babies R’ Us brands are doing business right next to each other.Benicia Industrial Park, 6350 Goodyear Rd, BeniciaSize: 35,790 square feetTenant: HD SupplyProcuring: noneOwner: Walton CWCA Benicia I 19 LLCListing: Tony Binswanger and Brian Slocum of Colliers InternationalCompleted: July 20, 2011

The wholesale construction supplies division of The Home Depot renewed its lease for warehouse and distribution space.Solano Commerce Center, 2260 Cordelia Road, FairfieldSize: 33,000 square feetTenant: AGFA II Acquisitions GroupOwner: Panattoni DevelopmentListing: Glen Dowling, Matt Bracco and Chris Neeb of Cushman & WakefieldCompleted: July 2011Benicia Industrial Park, 531 Getty Ct., Stes. A--C, BeniciaSize: 30,016 square feetTenant: Cole SupplyProcuring: Tony Binswanger and Brian Slocum of Colliers InternationalOwner: Walton CWCA Benicia Warehouse 21 LLCListing: Tony Binswanger and Brian SlocumCompleted: November 30, 2011

Benicia-based distributor of janitorial, cleaning, and facility supplies distributor Cole Supply renewed a lease for warehouse and distribution space.Sonoma County leasesSequoia Business Center, 1400 and 1420 N. McDowell Blvd., PetalumaSize: 96,000 square feetTenant: Enphase EnergyProcuring: Keegan & Coppin Co., Inc.Owner: Sequoia Center, LLCListing: Tony Sarno (of Keegan & Coppin Co., Inc. at the time)Completed: June 2011

Rapidly growing solar electricity microinverter maker Enphase signed 10-year leases with Sequoia Center, LLC, managed by Basin Street Properties, for two of the three office buildings that housed Alcatel-Lucent’s Petaluma team until April 2011. [See the June 15 story "Enphase Energy files for IPO, leases 96,000 square feet in Petaluma."]Washington Square, 389 S. McDowell Blvd., PetalumaSize: 63,467 square feet

Tenant: Safeway, Inc.Procuring: Property Development Associates, a Safeway divisionOwner: MacerichListing: Mark Koenig, John Schaefer, Dan Wald, James Chung, Patrick McGaughey and Sam Finne of Terranomics Retail ServicesCompleted: October 2011

Pleasanton-based grocery chain Safeway plans to expand its nearly four-decade-old 52,000-square-foot store in the Washington Square neighborhood shopping center with a planned relocation this summer across the parking lot to the 63,500-square-foot former Mervyn’s store, incorporating Safeway's new "lifestyle" retailing approach. [Read the Dec. 19 story "Major private construction projects on tap in 2012."]170 Todd Rd., Santa RosaSize: 62,728 square feetTenant: Playland Enterprises, LLCProcuring: Joel Jaman, Bill Faherty and Jim Sartain of Keegan & Coppin Co., Inc.Owner: Todd Associates, LLCListing: Joel Jaman, Bill Faherty and Jim SartainCompleted: April 2011

Billed as the largest indoor paintball, Laser Tag and Airsoft center west of the Mississippi River, Playland opened in August 2011.Sonoma Mountain Village, 1500 Valley House Drive, Rohnert ParkSize: 40,832 square feetTenant: AT&TProcuring: Shawn Johnson of Keegan & Coppin Co., Inc.Owner: Codding EnterprisesListing: Lois Codding of Codding EnterprisesCompleted: November 2011South McDowell Landing, 2000 S. McDowell Blvd., PetalumaSize: 39,528 square feetTenant: The Gap, Inc. (Athleta)Procuring: Steve Leonard of Cassidy TurleyOwner: RNM PropertiesListing: Steve Leonard, Brian Foster and Trevor Buck of Cassidy TurleyCompleted: July 2011

Women’s activewear retailer Athleta, a division of San Francisco-based apparel giant Gap Inc., nearly doubled the size of its 200-employee headquarters office late last year as the brand’s brick-and-mortar retail initiative picks up the pace. Gap signed a 10-year lease with RNM Properties for 40,000 square feet of office space in the 2000 S. McDowell Blvd. It took perseverance, understanding of tenant’s needs and the landord’s budget for improvements to get this deal done and keep a major employer in Petaluma, according to the Cassidy Turley team. [Read the July 25 story "Athleta plans to nearly double HQ size."]3354 Coffey Lane, Santa RosaSize: 36,059 square feetTenant: Trans India/ShikaiProcuring: Preston Smith and Graden Travis of Cornish & Carey Commercial Newmark Knight FrankOwner: DSI, Inc.Listing: Jeffrey Wilmore of Keegan & Coppin Co., Inc.Completed: September 2011

Changing needs for thin-film technology developer DSI turned into a subleasing bonus for Shikai, owned by Trans India. The manufacturer of natural-ingredients lotions and soaps moved as part of expansion plans, according to Jeffrey Wilmore of Keegan & Coppin.Westwind Business Park, 3640 Westwind Blvd., Santa RosaSize: 33,325 square feetTenant: Mapleton InvestmentsProcuring: Jeffrey Wilmore of Keegan & Coppin Co., Inc.Owner: OclaroListing: Jeffrey WilmoreCompleted: November 2011210 Classic Ct., Rohnert ParkSize: 31,870 square feetTenant: Pace SupplyProcuring: Tony Lucchesi of Cassidy TurleyOwner: Waldman ManagementListing: Richard Henderson and Trevor Buck of Cassidy TurleyCompleted: December 20113681 Laughlin Rd., Ste. 140, Santa RosaSize: 25,185 square feetTenant: Thermal Technology, LLCOwner: Cornerstone Properties SA, LLCListing: Preston Smith of Preston Smith of Cornish & Carey Newmark Knight FrankCompleted: April 2011

Demand for its sapphire crystal--growing tools sent Thermal Technology into overdrive, taking on more space and 55 new employees to deal with a spike in orders from Asia. The company needed a larger production facility immediately to fill orders and had to have extensive tenant improvements done on time and under a short lease term. The new building was across the street from the previous one. [Read the May 23 story "LED fueling Thermal Tech expansion."]1105 Industrial Ave, PetalumaSize: 24,006 square feetTenant: Kala Brand Music Co.Owner: Andrade Family TrustListing: Steve Easley of Cassidy TurleyCompleted: February 2012

Kala Brand Music Co. more than doubled the size of its Petaluma base of operations as sales expand for the 6-year-old producer of exotic ukuleles and novel bass guitars. [Read the April 2, 2012, story "Petaluma uke maker doubles size."]5621 Skylane Blvd., Santa RosaSize: 23,600 square feetTenant: Humble Abode Inc.Procuring: Gil Saydah of Keegan & Coppin Co. Inc.Owner: Theodore LowpenskyListing: Kevin Doran of Keegan & Coppin Co. Inc.Completed: July 2011

Internet furniture retailer Humble Abode, started as a dot-com entrepreneur’s side project a dozen years ago, has turned into one of fastest growing companies in the U.S. To accommodate that growth, Humble Abode expand into in the business parks near Charles M. Schulz--Sonoma County Airport. [Read the Oct. 3 story "Fast-growing online furniture retailer expands."]1690 Corporate Cir., PetalumaSize: 23,187 square feetTenant: Hydropoint Data SystemsOwner: RNM PropertiesListing: Steve Leonard and Brian Foster, Trevor Buck of Cassidy TurleyCompleted: August 2011Redwood Business Park, 1380 Redwood Way, PetalumaSize: 16,000 square feetTenant: Enphase EnergyProcuring: Dave Peterson and Chris Castellucci of Keegan & Coppin, Co., Inc.Owner: Cornerstone Properties SA, LLCCompleted: January 2012

Enphase Energy leased 16,000sf of research and development space in this former Telecom Valley building for testing the effects of various environmental conditions on its microinverters for converting direct electrical current from photovoltaic panels to safer standard alternating current. This was an expansion of such functions and was part of Enphase's previously mentioned expansion to Sequoia Business Center.Marin County salesMarin Commons, 1600 Los Gamos Dr., San RafaelSize: 328,000 square feet on nearly 24 acresBuyer: County of MarinSeller: CORAC, LLC (Cigna Real Estate)Completed: December 2011Value: $28,430,000

In the largest Marin County office space sale of 2011, the Marin County Board of Supervisors in November approved an $81.9 million plan to purchase the 328,000-square-foot mostly vacant office building and renovate up to 110,000 square feet to accommodate a new county Emergency Operations Facility. Three major tenants -- Bright Horizons, the IRS and THX -- will continue to occupy about 55,000 square feet of the building. [Read the Nov. 15 story "County to spend $82 million on Marin Commons building."]195--205 Tamal Vista Blvd., Corte MaderaSize: 96,000 square feet on 4.5 acresBuyer: 195-205 Tamal Vista, LLC (MacFarlane Partners)Procuring: Mike Lieberman, Jay Cross and Jerry Angel of Cornish & Carey Commercial Newmark Knight FrankSeller: JMH Assets, LLCListing: Mike Lieberman, Jay Cross and Jerry AngelCompleted: May 2011Value: $16,000,000

San Francisco-based MacFarlane Partners acquired the former WinCup foam cup manufacturing plant to tear it down and build 180 apartments for $68 million. WinCup relocated to Bakersfield.4040 Civic Center, San RafaelSize: 127,000 square feetBuyer: Kilroy Realty, LPProcuring: Eric Doyle, Sean Fulp, Haden Ongaro, Mac Cranford and Mark Carrington of Cornish & Carey Commercial Newmark Knight FrankSeller: 4040 Civic Center, LLCListing: Eric Doyle, Sean Fulp, Haden Ongaro, Mac Cranford and Mark CarringtonCompleted: June 2011Value: $15,000,000-plus

The purchase of a mostly full 127,000-square-foot San Rafael office building was part of a plan by Los Angeles-based real estate investment trust Kilroy Realty Corp. to grow quickly in key Northern California and Pacific Northwest job markets. Kilroy plans capital improvements, including renovations and work needed to obtain LEED certification for the building [Read the July 18 story "Fast-growing REIT buys big San Rafael building."]444--454 Dubois St., San RafaelSize: 64,500 square feetBuyer: D.R. Stephens Real EstateProcuring: Jeffrey Traynor of Cornish & Carey Commercial Newmark Knight FrankSeller: Larken Properties, LLCListing: Matthew Storms and Nathan Ballard of Keegan & Coppin Co., Inc.Completed: December 2011Value: $7,750,000 (8 percent cap rate)

San Francisco-based D.R. Stephens & Co., a major Bay Area commercial property investor and manager looking to get back into Marin for a while, purchased six San Rafael industrial buildings. It was the completion of a Section 1031 exchange after the sale of a Daly City property, according to Lane Stephens, president. He said a multitenant property was a safer bet to complete the exchange than the company’s typical target, a single-tenant property. [Read the March 5, 2012, story "Six San Rafael industrial buildings sell to S.F. investor."]Madera Vista, 300 Robin Dr., Corte MaderaSize: 126 apartmentsBuyer: Apartment Investment and Management Co.Seller: affiliates of The Rockpoint Group and Stellar ManagementListing: Stan Jones of Marcus & MillichapCompleted: August 2011Value: $43,600,000 ($346,000 per dwelling)

The Denver-based real estate investment trust is betting about $65 million on the renovation of the 126-unit vacant apartment complex in Corte Madera, amounting to $516,000 a unit. AIMCO plans to spend $21.4 million in renovations. [Read the Nov. 21 column item "Madera Vista apartments get $65 million investment."]100 Meadowcreek Dr., Corte MaderaSize: 15,652 square feetBuyer: Seaver Enterprises, LLCSeller: Hapag-Lloyd (America), Inc.Listing: Meryl Sebestyen of Cornish & Carey Commercial Newmark Knight FrankCompleted: August 2011Value: $2.4 million

Buyer-user Seaver Enterprises paid cash in this quick-close deal for an office building that needed significant, necessary repairs.Napa County salesTrancas Medical Center, 1100 Trancas St., NapaSize: 63,476 square feetBuyer: SP Real Estate Napa, LLCProcuring: John Smelter of Marcus & MillichapSeller: LNR Property Corp. (CMLT 2008-LS1 Trancas Street, LP)Listing: Kathy Kelleher of CBRECompleted: May 2011Value: $11,200,000

An affiliate of New York-based health care real estate firm Seavest Inc. purchased this medical office building adjacent to Queen of the Valley Medical Center from a loan servicer and plans significant upgrades to the building. [Read the May 16 story "Investment firm purchases Trancas Medical Center."]Green Island Industrial Park, 801 Hanna Drive, American CanyonSize: 101,700 sfBuyer: Lowenberg Corp.Procuring: Glen Dowling, Matt Bracco and Chris Neeb of Cushman & WakefieldSeller: Upvalley Associates, LLCListing: Glen Dowling, Matt Bracco and Chris NeebCompleted: December 2011Value: $6,800,000

An affiliate of San Francisco-based industrial real estate investor Lowenberg Corp. acquired another North Bay building. That’s where Sonoma-based Groskopf Warehouse & Logistics made its 60,000-square-foot expansion into Napa Valley last year. The lease brought occupancy to 60 percent. The dozens of properties in the Lowenberg portfolio now includes seven Napa-area buildings and two in Fairfield. Previous North Bay purchases in the North Bay included a 101,200-square-foot warehouse at 770 Skyway Ct. in south Napa in December 2010. [Read details in the Jan. 16 commercial real estate column.]1844 Pope Canyon Rd., St. HelenaSize: 4,800 square feet on 160 acresBuyer: Whisky River Ranch Vineyard, LLCProcuring: Barry Berkowitz of St. Helena Real EstateSeller: Norman G. Alumbaugh TrustListing: Deborah Russell Broman of Coldwell Banker Brokers of the Valley and Jeff Feeney of Coldwell Banker Commercial Brokers of the ValleyCompleted: August 2011Value: $6,600,000The Grandview, 1915 Main St., St. Helena, CA 94574Size: Georgian Revival mansion and about 30 additional apartment units on three acresBuyer: Vista St. Helena, LLCProcuring: Jeff Feeney of Coldwell Banker Commercial Brokers of the ValleySeller: 1915 Main Street Associates, LLCListing: Colliers International Hotels fka PKF CapitalCompleted: October 2011Value: $5,500,000699 S. St. Helena Hwy., St. HelenaSize: 4,355 square feetBuyer: Vine Cliff Winery, Inc.Procuring: Jeff Feeney of Coldwell Banker Commercial Brokers of the ValleySeller: Castlerock Wine Corp.Listing: Jeff FeeneyCompleted: August 2011Value: $1,650,0003392 Solano Ave., NapaSize: 4,189 square feet on 0.51 acresBuyer: Mary CookeProcuring: Cathy D’Angelo Holmes of Coldwell Banker Commercial Brokers of the ValleySeller: FM Solano, LLCListing: Michael Moffett of Coldwell Banker Commercial Brokers of the ValleyCompleted: December 2011Value: $1,000,0003250 Beard Rd., NapaSize: 2,215 square feetBuyer: Herkanwal Khaira and James HendricksProcuring: William Kampton of Colliers InternationalSeller: Jeff Politz and John PappasListing: Michael Moffett of Coldwell Banker Commercial Brokers of the ValleyCompleted: June 2011Value: $710,00016-32 Avon Ave., NapaSize: five apartments with 6,534 square feet on 0.15 acresBuyer: Three Owners, LLCProcuring: Bill Kampton of Colliers InternationalSeller: S&T Real Estate Group LLCListing: Buurma & Strain Commercial Real EstateCompleted: June 13, 2011Value: $540,000Solano County salesRolling Oaks, 3700 Lyon Rd., FairfieldSize: 292 unitsBuyer: Nevins Adams Lewbel SchellSeller: Continental American Properties and Wafra Investment Advisory GroupListing: William Huberty, Clint Sholl and Malcomb McComb of CBRE GroupCompleted: November 2011Value: $52,000,000 ($178,000 a unit)

Santa Barbara-based multifamily property investment firm NALS, purchased its only California property among a 14,000-unit portfolio. The sale price for the 15-building, 11-year-old complex 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 2011. NALS plans to upgrade the property common facilities and areas, such as the leasing office, pool and fitness center. [Read details in the Jan. 16 commercial real estate column.]River Oaks, 1000 Allison Dr., VacavilleSize: 312 apartments in 318,864 square feetBuyer: Sequoia Equities-River OaksSeller: Western Multifamily, LLCCompleted: January 2012Value: $52,400,000

Another large Solano County multifamily property sale, River Oaks previously changed hands in April 2004 for $44.8 million.Westside Professional Building, 2470 & 2480 Hilborn Rd., FairfieldSize: 29,112 square feetBuyer: The Wiseman Co.Seller: Sterling Savings BankCompleted: September 14, 2011Value: $3,100,000

Fairfield-based developer, owner and property manager The Wiseman Co. acquired an existing class A office building and an adjacent pad for a similarly sized building. It’s the only zoned and approved office building site on the west side of Interstate 80. The building had been taken back by Sterling Savings Bank when the previous owner was unable to find enough tenants. [Read the Oct. 3 commercial real estate column for details.]Fairfield Corporate Commons, 424 Executive Ct. N., FairfieldSize: 18,360 square feet on 1.52 acresBuyer: 424 Properties, LLCProcuring: Tony Binswanger and Eric Dakin of Colliers InternationalSeller: 88/12, a California Limited PartnershipListing: Brooks Pedder and Eric Dakin of Colliers InternationalCompleted: March 2012Value: $2,625,000

North Bay Aviation, affiliated with the buyer, leased 56 percent of the class B office building at the time of sale. Only 4,500 square feet is vacant.Fairfield Corporate Commons, 299 Campus Ct., FairfieldSize: 16,811 square feet on 1.74 acresBuyer: 88/12, a California limited partnershipProcuring: Brooks Pedder, Eric Dakin and Tony Binswanger of Colliers InternationalSeller: Judy Inok KimCompleted: December 2011Value: $1,500,000

The seller of 424 Executive Ct. N. in the same business park purchased this office/flex building.Pony Express Office Park, 4610 Westamerica Dr., FairfieldSize: 10,000 square feetBuyer: Copart, Inc.Procuring: Brooks Pedder, Phil Garrett and Jon Quick of Colliers InternationalSeller: HDC Pony Express, LLCListing: Brooks Pedder, Phil Garrett and Jon QuickCompleted: May 2011Value: $1,144,250

Copart plans to relocate most of its operations to Texas later this year, but it needed much smaller local presence. The auto parts dealer paid cash in a quick close on this free-standing office shell building. [See the Oct. 10 story "Fairfield’s Copart to make Texas its corporate headquarters."]Sonoma County salesRNM Properties portfolio, Petaluma and Rohnert ParkSize: 842,000 square feet in 14 office, industrial and retail buildingsBuyers: PB&J Acquisitions, LLC, and Investcorp International Inc.Procuring: noneSellers: RNM Lakeville, LLC, and NJL Fountaingrove, LLCListing: Will Connors and Eric Doyle of Cornish & Carey Commercial Newmark Knight Frank; Steven Leonard, Trevor Buck and Brian Foster of Cassidy Turley; and Helen Sedwick of Bennett Valley LawCompleted: March 2012Value: $65,000,000-plus

It was the largest amount of North Bay commercial space to sell since 2005, when Equity Office affiliates purchased 1.43 million square feet of office and office-flex buildings in Santa Rosa, Petaluma and Novato from Basin Street Properties for $270 million. PB&J Acquisitions formed in March 2011 from a local group of real estate investors. [Read the Feb. 27 story "Investors buy 14 Petaluma, Rohnert Park buildings."]Oak View of Sonoma Hills, 1350 Oak View Cir., Rohnert ParkSize: 207 apartments for seniorsBuyer: affiliate of Clarion Partners, LLCProcuring: John Nguyen and Alexander Garcia Jr. of Marcus & MillichapSeller: Kisco Senior LivingListing: Brad Pennington of Marcus & MillichapCompleted: SeptemberValue: $35.5 million ($170,673 a unit)

Oak View of Sonoma Hills was part of a $100 million sale of nearly 600 units in three such California properties to a New York-based investor led by Clarion Partners. The properties were all 95 percent occupied at the time of sale. [Read the Oct. 12 story "Rohnert Park senior apartments sold for $35 million."]Greenbriar Apartments, 200 Greenbriar Cir., PetalumaSize: 224 unitsBuyer: Capital Valley InvestmentsProcuring: Tom Laugero of Keegan & Coppin Co., Inc.Seller: US BankListing: Tom Laugero, Ron Giannini and Fumi Tanaka of Keegan & Coppin Co., Inc.Completed: January 2012Value: $21,900,000 ($98,000 a unit)

After a several-month challenging effort to reach a purchase agreement with three lenders on the parts of a 224-unit Petaluma apartment complex involved in the Bijan Madjilessi bankruptcy, significant California multifamily investor Capital Valley Investments, which has offices in Calabasas and Rocklin, purchased Greenbriar Apartments and plans several million dollars in maintenance, renovation and upgrades in the next 12 to 18 months. Seventy-two units vacant at the time of sale were “down,” an industry term for units needing rehabilitation before new tenants can move in. [See the March 19, 2012, story "New owner of Greenbriar Apartments plans 'substantial renovation.'"]Sequoia Business Center, 1400 N. McDowell Blvd., 1420 N. McDowell and 5341 Old Redwood Hwy., PetalumaSize: 210,000 square feetBuyer: Sequoia Center, LLCProcuring: Tony Sarno (of Keegan & Coppin Co., Inc. at the time)Seller: 1400 & 1420 McDowell Holdings, LLC, and 5341 Old Redwood Highway Holdings, LLCListing: Tony Sarno (of Keegan & Coppin Co., Inc. at the time) and Kathy Kelleher of CBRECompleted: June 2011Value: $13,000,000

Through affiliate Sequoia Center, LLC, Basin Street Properties repurchased three Petaluma office buildings totaling 210,000 square feet, with almost half of it reserved for local photovoltaic system developer Enphase Energy to expand into this year. Another 8,000 square feet in the third building was leased to State Farm Insurance. The buildings were previously occupied by Alcatel-Lucent, which consolidated its Petaluma operations to 16,000 square feet in south Petaluma in April 2011, and Digilock, which relocated to two north Petaluma buildings purchased in 2010. [Read the stories, "Basin Street completes $13 million purchase of Enphase expansion campus," June 30, and "Major players spur deals in Petaluma real estate," Sept. 5.]Redwood Business Park, 5401 Old Redwood Hwy. & 1372 N. McDowell Blvd., PetalumaSize: 93,600 square feetBuyer: Cornerstone Properties SA, LLCSeller: CSFB 2002-CKS4 Redwood Way, LPListing: Tony Sarno (of Keegan & Coppin Co., Inc. at the time) and Kathy Kelleher of CBRECompleted: May 2011Value: $4,800,000

San Mateo-based Cornerstone Properties expanded its North Bay commercial real estate holdings with the purchase of two former Equity Office buildings in Petaluma from loan servicers for a lender that took back a dozen and a half Petaluma and Santa Rosa buildings from Equity Office over two years. [Read the May 23 story "Cornerstone adds two more buildings to Petaluma portfolio."]Redwood Business Park, 5330 Old Redwood Hwy., 1341-1353 Redwood Way and 1363-1367 Redwood Way, PetalumaSize: 88,000 square feetBuyer: PB&J Acquisitions, LLC, and MKD InvestmentsSeller: Savoy Corp.Listing: Tony Crossley and Tim Maas of Colliers International San Francisco InvestmentsCompleted: June 2011Value: $5.1 million

Part of a number of bulk sales in Petaluma in the past few years, San Francisco-based Savoy Corp. sold three buildings for about $58 a square foot. They were listed for $6.5 million. This was the first play for these types of properties for Napa-based PB&J, followed by the RNM Properties North Bay portfolio purchase in early 2012. [See the July 18 story "Savoy sells three Petaluma buildings."]Airport Corporate Center, 3990 Brickway Blvd., Santa RosaSize: 60,410 square feetBuyer: Redwood Empire Food BankProcuring: Dave Peterson of Keegan & Coppin Co. Inc.Seller: Sonoma Airport Properties, LLCListing: Sean Heaton, Tony Sarno and Glen Dowling of Cushman & WakefieldCompleted: September 2011Value: $5,000,000

The building was one of four built for Agilent Technologies a decade ago and was occupied by Avery Weigh-Tronix until two years ago. Napa-based Sonoma Airport Properties purchased three former Agilent buildings in 2008 and fully leased two. Redwood Empire Food Bank is moving forward with the first part of a $9 million expansion plan designed to greatly increase the organization’s ability to supply food to a growing number of hungry North Coast families, seniors, adults and children over the next 25 years. The food bank estimates it will save $19 million in lease fees over 25 years and be able to serve 41 million meals. [Read the Sept. 9 story "Redwood Empire Food Bank plans $9 million expansion."]Parkpoint Business Center, 1211--1235 N. Dutton Ave. and 405 W. College Ave., Santa RosaSize: 70,000 square feetBuyer: Deerfield Tasman, LLC, and Deerfield 2000, LLCSeller: Parkpoint M & C Investors LLC and Appian CapitalListing: Vince Schwab of Marcus & MillichapCompleted: January 2012Value: $4,892,000

This three-building office complex in Santa Rosa Business Park has changed hands three times in the past six years. Equity Office purchased it in 2005, and it went back to lenders in late 2009. Affiliates of San Francisco-based Presidio Development Partners purchased it in December 2010 for $3.7 million. Menlo Park-based Deerfield Realty Corp., affiliated with the new ownership, plans to renovate the buildings for medical offices. An earlier Deerfield Tasman affiliate has experience with Santa Rosa office real estate, having owned five-building The Lakes complex in Santa Rosa Corporate Center until the late 1990s.3925 Cypress Dr., PetalumaSize: 86,486 square feetBuyer: Cypress Bay, LLCProcuring: Sharlene Sha of Green Valley RealtorsSeller: Berkadia Commercial Mortgage, LLCListing: Tony Sarno (of Keegan & Coppin Co., Inc. at the time)Completed: May 2011Value: $4,200,0001805 S. McDowell Blvd., PetalumaSize: 36,300 square feetBuyer: Isaac & Renee Goff TrustProcuring: Haden Ongaro, Mark Carrington, Preston Smith of Cornish & Carey Commercial Newmark Knight FrankSeller: Timothy W. & Linda WaitsListing: Nathan Ballard of Keegan & Coppin, Co., Inc.Completed: May 2011Value: less than $3,000,000

Isaac and Renee Goff, owners of San Rafael-based Dharma Trading Co., which has been selling supplies for decorating yarn and fabrics since the late 1960s, purchased a vacant Petaluma warehouse to relocate their growing mail-order and e-commerce business under one larger Petaluma roof. [Read the June 13 story "Dharma Trading Co. to move order-fulfillment to Petaluma."]

The building was listed for lease, but the owners were convinced to sell, according to the Cornish & Carey Commercial agents involved in the deal. "At a purchase price of $95/sf, it indicated that in Petaluma vacant warehouse buildings had more value than leased office buildings," said Haden Ongaro. "Since land and construction costs do not pencil in the North Bay, the price of existing industrial buildings will continue to rise."