THE DEAL SHEET
SALES
GI Partners, a multi-strategy private equity investment manager, acquired the three-building, data center anchored Corporate Research Center in Hayward through its DataCore Real Estate Fund with CalSTRS. The complex (26460, 26462 and 26464 Corporate Ave) contains nearly 300k SF.
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DivcoWest and New York-based Brickman acquired three office buildings in NYC'sMidtown South submarket: 24-28 W 25th St and 40 W 25th St. The buildings were purchased from Einstein College at Yeshiva University for the $870M DivcoWest Fund V and the $200M Brickman Fund V.
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Industrial Income Trust bought 3528 Arden Rd in Hayward, a 102k SF Class-A warehouse fully leased to Alexander's Moving and Storage. Lee & Associates' Craig Hagglund sold the property, which was built by The Koll Co in 1999.
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New Alamo Creekside Investors sold Twin Oaks, a 44-unit community in Vacaville (2390 Nut Tree Rd) for $4.2M or $95k-plus/unit. Hendricks-Berkadia's Al Inouye and Steven Nelson negotiated the sale.
LEASES
Lorna Jane, an women's active wear label,leased a 3,000 SF store on Union Street in the Cow Hollow section (2090 Union). This will be the Australian company's first San Fran store and the largest in its 11-store US portfolio. SPL Realty Partners' Scott Lifschultz repped Lorna Jane. Blatteis Realty representedthe building owner.
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The Sports Basement signed a 10-year lease for 40k SF at The Pruneyard Shopping Center in Campbell. Lockehouse Retail Group's Steve Cutter represented the tenant, while Prime Commercial's Dixie Divine and Doug Ferrari repped landlord Equity Office.
DEVELOPMENT
Local developers Avant Housing, Essex Property Trust, and BRIDGE Housing will enter into an exclusive right to negotiate with the redevelopment agency's successor agency for the development of a mixed-use TOD on Transbay Block 9. Plans call for a 41-story, 563-unit tower on Folsom Street designed by Skidmore Owings & Merrill. Avant, which is building 463 units in two buildings down the street, will lead the development.
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LandMark Retail Group, a subsidiary of shopping center developer Newmark Merrill, completed three CVS/pharmacy stores in San Francisco, including its first-ground up store for CVS here at 701 Portola Dr. The others include 351 California, located on the ground floor of a mid-rise office building in the financial district, and 581 Market St downtown.
BUSINESS
Shorenstein completed BOMA International's 7-Point Challenge, a five-year challenge that encourages CRE companies to reduce their use of natural resources, non-renewable energy sources, and waste production. An evaluation at the effort's conclusion found a 32% decrease in energy use across the company's national office portfolio. The steps taken by Shorenstein included an "energy savings tour" of its properties and a "flip the switch" sustainabilty education program targeting all tenants.
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Chesapeake Lodging Trust entered into an agreement with Marriott International for the Hotel Adagio San Francisco to join Marriott's Autograph Collection of independent hotels. The hotel, 550 Geary St, recently underwent a major renovation.
EXECUTIVE NEWS
Jamie Saunders joined Cresa San Francisco as a managing principal. He comes to the firm from JLL, where he was one of the founders of the Technology/High Growth Practice Group working with venture-backed companies. He's on the board of CoachArt, which improves the quality of life for children with chronic and life-threatening illnesses.
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Thornton Tomasetti SVP Lynn Simon earned the rank of LEED Fellow, a title held by fewer than 80 worldwide. She has more than 20 years of experience in the green building industry, including leading her own consulting firm, Simon & Associates, before joining Thornton.
Email your Bay Area commercial RE news to julie@bisnow.com.
