News
GAME BOYS
September 5, 2011
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| Diamond Investment Properties’ Andrew and Steve Diamond didn’t level up in Battle of the Mortals, but this is the next best thing. Diamond has landed Perfect World Entertainment at 101 Redwood Shores Pkwy, a 100k SF Class-A office building in Redwood City. The publisher of "massively multiplayer online role-playing games" is relocating from 33k SF elsewhere, and this is one of Redwood City’s largest office leases this year. |
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| The blue-glass, four-story building stands at the gateway to Redwood Shores business park. Cornish & Carey SVP Kristoph Lodge, who repped the landlord along with Matt Winters, tells us gaming companies are booming—three are expanding within a quarter-mile of each other, including Electronic Arts and Sony—and he’s got additional deals in the works. This was also the last large freestanding block of space in the mid-Peninsula area. Kristoph says it feels a lot like 2000. Rates are going up and vacancies are plummeting. Redwood Shores vacancy is about 6%—half of what it was a year ago. Maybe lack of space will give Kristoph more time for his hobby, coaching upper-division women's soccer. |
