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11/15/2007
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NAI BT Commercial Significant Transactions - - November 15, 2007
NAI BT Commercial Significant Transactions – November 15, 2007
ServiceSource Relocating North America HQ within City of San Francisco
San Francisco, CA – November 15, 2007– Chad Clemetson with NAI BT Commercial San Francisco represented ServiceSource, Inc. in the long-term lease of 45,881 square feet of office space at 634 2nd St. in San Francisco. The landlord is 634 2nd Street LLC. ServiceSource is relocating their North America headquarters to 634 2nd Street from 735 Battery Street. ServiceSource leased the entire building, with exception to approximately 1,000 square feet of retail space. Occupancy is set for April, 2008.
24,823 SF Class A Office Building Sold in Mountain View
Mountain View, CA – November 15, 2007– David Hiebert and Daniel Persyn with NAI BT Commercial Palo Alto teamed up to broker the sale of a 24,823 square foot Class A office building located at 399 El Camino Real in Mountain View, CA. Hiebert and Persyn along with Eric Doyle of CBRE represented the seller, El Camino Center, LLC. The buyer, The Swig Company, LLC, acquired the four-year old building for an undisclosed price.
Optovue to Relocate, but Remain in Fremont with 21,917 SF Lease
Fremont, CA – November 15, 2007– Danny Yu and Manoj Kapoor with NAI BT Commercial San Jose partnered up to represent Optovue in the lease of 21,917 square feet of R&D space at 45531 Northport Loop in Fremont, CA. The landlord is Kennedy Associates. Optovue, an ophthalmic device company, will begin its tenancy at the start of 2008. Optovue will be relocating from their existing site on Christy St. also in Fremont.
U-Tech Media USA Leased 104,400 SF at Fleming Business Park
Milpitas, CA – November 15, 2007– Danny Yu and Tenny Tsai with NAI BT Commercial San Jose have teamed up to broker the lease of 104,400 square feet of warehouse space at the Fleming Business Park located on Montague Expwy in Milpitas, CA. Yu and Tsai represented the tenant, U-Tech Media USA, LLC. The landlord is Fleming Business Park, LLC. Founded in 2000, U-Tech Media is dedicated to the research and development of pre-recorded media, and its production lines include CD, DVD, HD-DVD and Blue-disc (BD). U-Tech Media will take occupancy January 1, 2008.
International Paper Company Renewed 106,000 SF in San Leandro
San Leandro, CA – November 15, 2007– Jay Hagglund with NAI BT Commercial Oakland recently represented the property owner of 1950 Marina Blvd. in San Leandro, CA in a long-term lease renewal of 106,000 square feet of warehouse space to tenant International Paper Company. The property has been a paperbox manufacturing site for 57 years.
Schoeber’s Athletic Club Facility Sold in Fremont
Fremont, CA – November 15, 2007– Steve Kapp with NAI BT Commercial Oakland and Randy Keller of the firm’s Burlingame office teamed up to broker the investment sale of a 30,169 square foot building at 3411 Capital Ave. in Fremont, CA. Kapp and Keller represented the seller, Golden Gate Racquetball Courts, L.P. The buyer was Bhandari, Sikka & Sikka. The facility, occupied by Schoeber’s Athletic Club, sold for $3,550,000, or $118 per square foot.
38,441 SF Class A Office Building Sold to Investor in San Rafael
San Rafael, CA – November 15, 2007– Greg Moss and Whitney Strotz with NAI BT Commercial’s North Bay office have represented Marin County Employees Retirement Association (buyer) in the investment acquisition of a 38,441 square foot office building located at 1 McInnis Pkwy in San Rafael, CA. The seller was C.V. Anthony II, LLC. The two-story Class A office building sold for an undisclosed price.
27,000 SF Office Building Sold at Oakland Airport Business Park
Oakland, CA – November 15, 2007– Paul Beckwith with NAI BT Commercial Oakland represented the buyer, Shimmick Construction Company, in the owner/user purchase of a 27,000 square foot office building at 8201 Edgewater Dr. in Oakland. The building is part of the Oakland Airport Business Park. The seller was Conversano. The two-story building sold for an undisclosed price. Shimmick Construction will occupy roughly 8,500 square feet within the multi-tenant building.
Comcast Subleased 33,600 SF in Salinas from IDT, Inc.
Salinas, CA – November 15, 2007– Michael Schoeder with NAI BT Commercial Monterey, Greg Findley and Daniel Vorhies with the firm’s Salinas office have recently joined forces with Joe Moriarty of CPS to represent sublessor Integrated Device Technology, Inc. in the long-term sublease transaction of a 33,600 square foot office building located at 710 La Guardia St. in Salinas, CA. The sublessee, Comcast, took occupancy at the start of October 2007.
Responsys, Inc. Subleased 17,390 SF from Gap, Inc. in San Bruno
San Bruno, CA – November 15, 2007– Kevin Waldman and Clarke Funkhouser with NAI BT Commercial Burlingame represented tenant Responsys in the sublease of 17,390 square feet of office space at 900 Cherry Avenue in San Bruno, CA. The sublessor was Gap, Inc. Responsys, a leading global provider of on-demand marketing solutions, will begin its sublease term on January 1, 2008.
University of Phoenix Relocating to San Francisco’s Financial District
San Francisco, CA – November 15, 2007– Kevin Waldman and John Barsocchini with NAI BT Commercial Burlingame along with Chad Clemetson of NAI BT San Francisco represented The University of Phoenix (tenant) in the long-term lease of approximately 17,000 square feet at 1 Front St. in San Francisco. The leased premises includes 2,000 square feet of ground floor retail space facing Market Street. The landlord is Market Front Associates L.P. The building is located at the intersection of Front St and Market St. in San Francisco’s Financial District. The University of Phoenix is relocating from 185 Berry St. in the City’s China Basin area.
Shop.com Renewed 17,075 SF Lease at Monterey Commerce Center
Monterey, CA – November 15, 2007– Michael Schoeder with NAI BT Commercial Monterey represented owner RRMCC Holdings, LLC in a 17,075 square foot office lease renewal to Shop.com at 1 Lower Ragsdale Dr. Building #1 in Monterey. Shop.com has been a tenant of the Class A office project since 1999, having expanded their operations several times during this 8-year span.
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