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10/12/2007
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NAI BT Commercial Significant Transactions - - October 12, 2007
NAI BT Commercial Significant Transactions – October 12, 2007
Trans Bay Steel Relocating to 140,184 SF Building in Fairfield
Fairfield, CA – October 12, 2007 – Gary Fracchia with NAI BT Commercial Oakland brokered the lease transaction of a 140,184 square foot industrial building at 2400 Cordelia Rd. in Fairfield, CA. Fracchia represented the tenant, Trans Bay Steel Corporation. The landlord is Adobe Lumber, Inc. The building sits on 9.8 gross acres and is located adjacent to the Solano Business Park and Busch Corporate Park., nearby I-80 and Hwy 12. Trans Bay Steel is relocating from the former Napa Pipe facility.
Green Valley Corp. Acquired 63,810 SF Bascom Gardens Project
San Jose, CA – October 12, 2007 – Keith Claxton with NAI BT Commercial San Jose and Tom Spilsbury of Grubb & Ellis represented buyer Green Valley Corporation in the investment acquisition of the 63,810 square foot office project known as Bascom Gardens located at 1190-1210 Bascom Rd. in San Jose. The seller was Bayco Investment Co. Bascom Gardens consists of a pair of two-story multi-tenant office buildings that are nearly equivalent in size. The 31-year old project, which was nearly fully occupied at the time of the transaction, sold for an undisclosed price.
Two Tenants Lease Total of 171,838 SF at Hayward Gateway Center
Hayward, CA – October 12, 2007 – Jeff Starkovich and Jay Hagglund with NAI BT Commercial Oakland have partnered up to broker two warehouse lease transactions that included both a lease renewal of 118,050 square feet and a blend and extend lease of 53,788 square feet within the 10-building Hayward Gateway Center located along Arden Rd. and Danti Ct. in Hayward, CA. Starkovich and Hagglund represented the owner, INVESCO Real Estate, in both transactions. In the first lease deal Sealed Air Corporation renewed its 118,050 square foot space located at 3433-3481 Arden Rd. (Building F). Sealed Air is among the largest tenants in the project. In the second transaction Pacific Die Cut Industries inked a blend and extend deal totaling 53,788 square feet at 3391-3399 Arden Rd. (Building D). Pacific Die has been a tenant at the project since 1999.
Ooma, Inc. Leased 21,874 SF Building at The Harbor, Palo Alto
Palo Alto, CA – October 12, 2007 – Randy Arrillaga, Steve Bouret and Craig Eckstein with NAI BT Commercial Palo Alto teamed up to broker the lease transaction of an entire 21,874 square foot R&D building within The Harbor project located at 1840 Embarcadero Rd. in Palo Alto, CA. Arrillaga, Bouret and Eckstein represented the landlord, Arden Realty Limited Partnership. The tenant is Ooma, Inc., which will take tenancy November 1, 2007. The Harbor consists of 10 office and R&D buildings totaling +/- 259,000 square feet situated on Embarcadero Rd. and Faber Pl.
Ning Leased 11,250 SF Office Building in Downtown Palo Alto
Palo Alto, CA – October 12, 2007 – David Hiebert with NAI BT Commercial Palo Alto represented tenant Ning in the lease of an 11,250 square foot Class A office building located at 735 Emerson St. in downtown Palo Alto. The landlord is Thomas E. Harrington Trust. Ning took occupancy October 1, 2007. Founded in 2004, Ning is an online service that allows users to create, customize and share social networks for free. Ning currently powers over 80,000 social networks and counting.
Tradebeam Renewed Lease at Waters Technology Park, San Mateo
San Mateo, CA – October 12, 2007 – Ben Paul, Mike Moran and Pat Yaeger with NAI BT Commercial Burlingame represented landlord TA Associates in the lease renewal of 26,934 square feet of office space at Waters Technology Park in San Mateo, CA. Longtime tenant Tradebeam, Inc. will renew its second floor space within the building addressed 2 Waters Park Dr. Tradebeam has remained a tenant of the project since 2002.
Avar Construction Inked 41,799 SF Space at Bayside Business Park
Fremont, CA – October 12, 2007 – Michael Spiro, Thomas Damaschino and Melvin Harrison with NAI BT Commercial Oakland represented tenant Avar Construction Systems, Inc. in the lease of a 41,799 square foot industrial building situated within Fremont’s Bayside Business Park project. The landlord is SG Fremont Partners, LLC. Avar Construction leased the entire single-story, freestanding building at 47375 Fremont Blvd. and took occupancy 10/1/2007.
Quickscrews Relocates to Livermore and Expands Building Size
Livermore, CA – October 12, 2007 – Sam Higgins with NAI BT Commercial Oakland represented buyer Quickscrews International Corp. in the user sale of a 24,500 square foot freestanding warehouse building at 5830 Las Positas Rd. in Livermore, CA. The seller was American Precision Manufacturing. The price for the five-year old, single-story building was $2,793,000 ($114 per square foot). Quickscrews is relocating from their 10,000 square foot warehouse space located in Union City.
Sherwood Real Estate Acquired 12,850 SF R&D Building in Mountain View
Mountain View, CA – October 12, 2007 – Kevin M. Sweatt with NAI BT Commercial San Jose brokered the user sale of a 12,850 square foot freestanding R&D building located at 1100 La Avenida Ave. in Mountain View, CA. Sweatt represented the buyer, Sherwood Real Estate, LLC, in the acquisition. The seller was Peter Davis. The property sold for $3,500,000 ($272.37 per square foot). The building was renovated in 2001 and is located across from the Microsoft campus.
Coverall Flooring Leased 14,520 SF Industrial Building in Santa Clara
Santa Clara, CA – October 12, 2007 – Dave Geissberger and Kalil Jenab with NAI BT Commercial San Jose partnered up to broker the lease of a single-story, two-unit industrial building totaling 14,520 square feet at 2466-2468 De La Cruz Blvd. in Santa Clara, CA. Geissberger and Jenab represented the landlord, De La Cruz Properties, in the transaction. The tenant is Coverall Flooring, Inc. which recently took occupancy on both units of the building October 1, 2007. The site is part of a three building industrial complex that is located nearby the San Jose International Airport.
43,020 SF Warehouse User Sale in Union City
Union City, CA – October 12, 2007 – Eddie Shuai and Brian Collins with NAI BT Commercial Oakland teamed up to represent buyer Thomas Yan dba Yan’s International, a furniture wholesaler, in the user purchase of a 43,020 square foot warehouse building located at 33333 Lewis St. in Union City, CA. The seller was 1675 Fulton Street Associates, L.P. The stand alone building which features 3,000 square feet of office, yard area, rail access, eight dock doors and two drive-in doors, and heavy power, sold for an even $4,000,000 ($93.02 per square foot). The site has been home to companies such as Unisource, ONE Precision and Felix Manufacturing.
Salinas Valley Memorial Healthcare Leased 17,845 SF Space at Gabilan Industrial Building in Salinas
Salinas, CA – October 12, 2007 – Wylie Mitchell, Greg Findley and Daniel Vorhies with NAI BT Commercial Salinas joined forces to represent both parties in the lease of 17,845 square feet of industrial space within the 59,200 square foot, two-story Gabilan Industrial Building located at 590 Work St. in Salinas, CA. The tenant, Salinas Valley Memorial Healthcare System, leased the space from Kenneth, Keith and Janette Slama. Salinas Valley Memorial will take occupancy Novemebr 1, 2007 and will join Pacific Star Homes, which occupies nearly half of the project, as the only two tenants. The remaining 12,850 square feet of office space is vacant and is actively on the market under Vorhies and Findley.
5.1-Acre Vacant Land Site Sold on Pine Canyon Rd. in Salinas
Salinas, CA – October 12, 2007 – Greg Vierra with NAI BT Commercial Salinas brokered the investment sale of a 5.1-acre vacant land site located at 137 Pine Canyon Rd. in Salinas, CA. Vierra represented the buyer, Ken Ferrasci. The seller was Alcove Coastal Enterprise, LLC. The property sold for $755,000 ($3.39 per square foot). Ferrasci plans to construct a new high-end home on the site.
NAI BT provides this information based on best-available knowledge and does not warrant accuracy provided us by 3rd parties. For further verification and/or questions, please contact the brokers listed below with the particular news announcement.
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