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Leaders in commercial real estate development

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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 WasemManaging general partner, Airport Business Center414 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 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 November 2015 and lease the rest to agriculture-focused agencies and trade groups.Matt WhiteCEO, Basin Street Properties1383 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 last fall 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, 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 RamosChief investment officer, The Buzz Oates Group of Companies8615 Elder Creek Rd., Sacramento 95828; 916-379-3800; buzzoates.com

North Bay projects: Vacaville Business Park, Vacaville — 597,896-square-foot warehouse; construction started in September; $35 million; also 472,000 square feet in two future buildings. Solano Logistics Center, Fairfield — 791,000-square-foot, two-building distribution warehouse project; construction on the second building is set to start this fall; $30 million.

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 expansion to the giant new building is set for September 2015.

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.

At Solano Logistics Center project on Cordelia Road in Fairfield, the developer and builder finished a 470,000-square-foot new home for ready for Saxco International this fall. And construction is set to start soon for a 177,000-square-foot warehouse for Saxco next door.

Encore Glass moved into a 320,000-square-foot warehouse at that project in January.Brad BakerPresident and CEO, Codding Enterprises1400 Valley House Dr., Rohnert Park 94928; 707-795-3550; sonomamountainvillage.com

North Bay projects: Sonoma Mountain Village, Rohnert Park — 175 acres; 839,000 square feet of commercial, office and retail space, including 500,000 square feet of existing office and warehouse space; planned urban village with 951 multifamily units and 743 single-family homes; approved. Coddingtown, Santa Rosa — 930,000-square-foot mall built in 1960; undergone upgrades; eyed for possible redevelopment. Former Los Robles Lodge site, Santa Rosa — 3.5 acres south of Coddingtown.

In the past seven years, the company acquired the 200-acre former Agilent Technologies campus in Rohnert Park, now called Sonoma Mountain Village, entered a $50 million joint venture with Simon Property Group to reposition and renovate Coddingtown Mall and acquired the shuttered Los Robles Lodge property just south of the mall.

Coddingtown has had a significant interior and exterior facelift over the past three years, and the mall has welcomed a number of new tenants and repositioned others to accommodate a 135,000-square-foot, single-story Target store on Oct. 8, built where a two-story vacant Gottschalks store once stood.

On the Los Robles site just south of Coddingtown, a 50,000-square-foot Dick’s Sporting Goods store and Patelco Credit Union branch are under construction for openings late this year.Jennifer McKinzyAsset manager, Cornerstone Properties5401 Old Redwood Hwy., Ste. 110, Petaluma 94954; 707-526-4799; cornerstone-prop.com

North Bay projects: 19 acres of land on Todd Road, Santa Rosa. Former Adobe Lumber property, Petaluma. Cameron & Cameron property, Fulton.

Started on the Peninsula in 1985, Cornerstone first invested in North Bay property in 2006 and now has a portfolio of 850,000 square feet of commercial space and 70 acres for possible development. Buy at a low price, refurbish and bring to market at attractive rental rates to fill buildings was a strategy it had employed with a 1 million-square-foot portfolio in Silicon Valley.

Cornerstone has been on a buying spree this year. It bought a nearly 54,000-square-foot vacant office building in east Santa Rosa, a 124,337-square-foot warehouse in southwest Santa Rosa, 130,000 square feet in three office and industrial buildings in Westwind Business Park near Charles M. Schulz–Sonoma County Airport,and the 58,000-square-foot downtown Santa Rosa building that houses The Press Democrat and the Business Journal.Tyler HigginsManaging partner, Orchard Partners3697 Mt. Diablo Blvd., Ste. 200, Lafayette 94549; 925-444-2200; orchardpartners.com

North Bay project: Napa Logistics Park — 218-acre industrial development; first phase 646,000-square-foot warehouse.

Orchard Partners, a real estate developer with Lafayette and Mountain View offices, and DivcoWest, a developer with offices in San Francisco and Boston, purchased a 218-acre property planned for in buildings south of Devlin Road at South Kelly Road in American Canyon earlier this year and plans to start construction soon on the first phase of Napa Logistics Park, a 646,000-square-foot warehouse.

The previous owner, Headwaters Development Co. and Deutsche Bank’s RREEF group, put that first warehouse on hold in 2010 when the economy stalled but on Feb. 18 of this year secured a development agreement with the city up to 2 million square feet of commercial space.Ross BerrySenior director, New York Life Real Estate Investors1 Front St., Ste. 550, San Francisco, CA 94111; 415-402-4103; newyorklife.com

North Bay projects: Greenwood Business Park, 1535 Airport Rd., Napa — first phase 228,000-square-foot warehouse under construction; second phase 75,000-square-foot warehouse entitled; estimated cost: $20 million-plus. Cader Corporate Center, Petaluma — 247,000 square feet of industrial space; estimated cost $25 million.

MNCVAD-Ind Greenwood CA, LLC, managed by San Francisco-based McMorgan & Company (mcmorgan.com) and New York Life Real Estate Investors, purchased the 18-acre former Greenwood Commerce Center project at 1535 Airport Rd. near Napa County Airport from a lender in July 2013 from a lender, attracted by the tight local industrial space market and in-place entitlements and clearances. It was the first investment for the Northern California Value Add/Development Fund, launched with $91 million from six construction trade union pension funds.

On Oct. 24, the fund purchased 20 acres of entitled industrial land on Cader Lane in south Petaluma from an entity affiliated with RNM Properties. RNM had obtained entitlements and installed infrastructure and building pads. The plan is to build 247,000 square feet of warehouse space in one to four buildings next summer.Hugh FutrellCEO, Hugh Futrell Corp.200 Fourth St., Ste. 250, Santa Rosa 95401; 707-568-3482; hughfutrellcorp.com

North Bay commercial projects: Museum on the Square, Santa Rosa — extensive renovation of the former AT&T downtown switching building into five-story commercial building; under construction. 250 Davis St., Santa Rosa — four-story, 70,000-square-foot class A office building with ground-floor retail and interior parking; approved but on hold. 888 Fourth St., Santa Rosa — seven-story mixed-use building with 6,200 square feet of office and retail space and 52 housing units; approved.

Licensed general contractor, real estate broker and Santa Rosa native Hugh Futrell and Bill Carle, executive vice president, have built and consulted on more than three dozen residential, commercial and mixed-use projects in the North Bay.

The redevelopment of the AT&T building in downtown Santa Rosa into a glass-skinned office building has been in the works since the former city redevelopment agency bought it in 2007. Hugh Futrell Corp. bought it last year and earlier this year started renovating the building for Luther Burbank Savings, TLCD Architecture and California Wine Museum. Completion is set for early next year.Mel SouzaPartner, Panattoni Development Co.8775 Folsom Blvd., Ste. 200, Sacramento 95826; panattoni.com

North Bay project: Napa Airport Commerce Centre, American Canyon — up to 750,000 square feet of warehouse space; eight small for-sale office buildings on 55 acres; awaiting construction.

Panattoni Development has been a major developer of industrial real estate in Napa Valley, particularly in Green Island Industrial Park in American Canyon. A proposal for the 12-acre first phase with four warehouses has been awaiting the extension of Devlin Road from Airport Boulevard south past the Headwaters development and this site to American Canyon, which was undertaken last summer.Komron ShahhosseiniProject manager for site acquisition and development, OSL Management LLC220 Concourse Blvd., Santa Rosa 95403; 707-535-3200

North Bay project: Bell Village, Windsor — 77,600 square feet of retail space anchored by an Oliver’s Market store on 6.3 acres of a nearly 25-acre site with 29 townhouses and 374 condos; approved, construction underway; estimated cost $70 million-plus.

This is a project led by Bill Gallaher, developer of the Oakmont senior community of Santa Rosa and a number of other projects. The company is redeveloping the Windsorland 200-space mobile home park for property owner Bell Village, LP. Approved in 2012, just after Rohnert Park-based Oliver’s entered an informal deal to put a grocery store there. Oliver’s officially committed to the project later in the year.

Demolition of the trailer park started this summer.

The first phase of the project will be the 77,600 square feet of commercial space and 80 of the approved 387 stacked flats and townhomes. Additional four-story, 150-unit residential buildings would be built each year thereafter.Joan Woodard & Larry SimonsPresident and CEO; Founder and chairman; Simons & Woodard Inc.100 Stony Point Rd., Ste. 180, Santa Rosa 95401; 707-524-6300; simonsandwoodard.com

North Bay project: Northpoint Corporate Center, southwest Santa Rosa — 22 acres remain undeveloped with entitlements and zoning for up to 600,000 square feet of business park uses.

Simons & Woodard manages about hundreds of thousands of square feet of commercial space in Santa Rosa.

On July 17, the Oakland-based Kaiser Permanente purchased 10.85 acres in four parcels on Mercury Way in Northpoint Corporate Center and submitted plans to build a three-story, 75,000-square-foot medical office building for primary care services.Neil ThompsonVice president of development, Stravinski Development Group413 W Yosemite Ave., Ste. 105, Madera 93637; 559-674-0906; icc-stravinski.com

North Bay project: Lombard Crossing Industrial Park, American Canyon — two warehouses with 287,000 square feet; under construction.

American Canyon-based Billet Transportation will be is leasing 120,000 of one 136,000-square-foot Lombard Crossing building under construction. Filling out the rest of that building will be Vin-Go, also of American Canyon.

An undisclosed company is in advanced talks for 120,000 of the 150,000 square feet in the second warehouse.

Stravinski Development Group, which also has been building in the Central Valley and Texas, has been eying development sites in Sonoma County.Todd ZapolskiPrincipal, Zapolski Real Estate, LLC1300 First St., Napa 94559; 707-257-6600; zapolskire.com

North Bay project: The Shops at Napa Center, Napa — redevelopment of three buildings at the 123,000-square-foot Napa Town Center into a 275,000-square-foot “lifestyle” retail center with a five-story hotel with 183 rooms; renovation started in early 2013, hotel in 2014; estimated cost is $70 million for retail, $70 million for the hotel.

Zapolski Real Estate is coordinating redevelopment of Napa Town Center, now called The Shops at Napa Center, for NTC Shops, LLC, a venture with Trademark Property Company. NTC acquired the property — not including the Kohl’s department store building — from Altamura Enterprises in May 2012, following City Council approval of a 20-year plan for downtown development. Key to that was the allowance of a seven-story hotel. Only half the center, which occupies two blocks of downtown, was leased at the time of the sale.

In August of last year, LodgeWorks Partners of Wichita, Kansas, announced a plan to build a luxury hotel at The Shops at Napa Center by mid-2016. LodgeWorks, which built a 141-room downtown Napa hotel now called Andaz, plans the new hotel to be the second location under the Archer brand, following one in New York. The Archer Napa hotel will have 183 rooms on five floors.

In addition to renovating the central shopping center, Zapolski is redevelop ing the 18,000-square-foot Merrill’s building as well as two other buildings on First Street with another 5,200 square feet. The 9,300-square-foot Dunne Building that Zapolski purchased last year also will be part of the renovated center.

Renovations started in October of last year.Pending projects

[caption id="attachment_101945" align="aligncenter" width="500"] Artist rendering of a former drydock at the Napa Pipe facility along the Napa River transformed into a dock for the planned mixed-use community.[/caption]

Napa Pipe

Developer: Napa Redevelopment Partners (Keith Rogal of Rogal + Walsh + Mol and Farallon Capital Management)

Project: Redevelopment of the former Napa Pipe Corp. plant, Napa — 154 acres; 700,000 square feet of industrial space to be converted into an “urban village” with less than 1,000 attached and multifamily homes, 150,000-square-foot Costco Wholesale store anchoring 320,000 square feet of commercial and industrial space, a 150-room hotel and 400-student elementary school; development agreement by 2016; estimated cost: $500 million.

It’s the most significant project to add housing stock in the North Bay and is expected to be developed over 10–15 years.Rohnert Crossings

Developer: North Bay Community, led by Joe Guerra of SunCal Companies

Project: redevelopment of a nearly 30-acre former insurance claims center site in Rohnert Park into a mixed-use transit village with 300 attached homes, four “pocket” parks and a 3-acre “green,” 30,000–40,000 square feet of vertical retail space; project will parallel the 282-acre Central Rohnert Park Priority Development Area project, draft documents for which are set to be done by year-end.Barlow hotel

Developer: Aldridge Management and Highway Partners.

Operator: Palisades Hospitality Group.

Project: 58-room hotel at The Barlow 12.5-acre industrial and retail redevelopment of an apple-processing plant in Sebastopol.Napa Tulocay Square

Developer: Peter A. and Vernice H. Gasser Foundation

Project: joint venture with BLT Enterprises to build 110,000 square feet of retail and commercial space plus 500 high-density housing units on 21 acres in Napa; approved.

CORRECTION, Nov. 4, 2014: A branch office for Patelco Credit Union, not Redwood Credit Union, is under construction at the former Los Robles site in Santa Rosa.

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