This Month’s Bay Area Deal Sheet: EBR Systems Takes 51K SF In Santa Clara
EBR Systems leased a 51K SF Class-A research and development building at 4600 Patrick Henry Drive in Santa Clara from owner Drawbridge Realty.
The property is located near Levi’s Stadium, and the cardiac device manufacturer will relocate from a much smaller space at 480 Oakmead Parkway in nearby Sunnyvale in early 2026.
Drawbridge has owned the Santa Clara property for 12 years, and last year finished a significant renovation of the property.
Cushman & Wakefield’s Walt Stephenson and Jeff Cushman represented the landlord, while Newmark’s Greg Tippin and Tracey Solari were on the tenant side.
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LEASES
AI company Databricks Inc. inked a 150K SF lease at One Sansome St. in downtown San Francisco and will move its headquarters from 160 Spear St. The company is taking nine floors in the 42-story building, and a build-out of its offices will begin in June with occupancy slated to start before the end of 2025.
A joint venture between PGIM Real Estate and Barker Pacific Group owns the 650K SF tower, having acquired it in 2010.
Mike Brown, Roman Adler and Aaron Gillespie of Newmark represented the owners, while JLL’s Arnand Tiano and Andy Hueser represented the tenant.
Thirty Ink, the business collective of Stephen Curry of the NBA's Golden State Warriors, is relocating to 600 20th St., a 25K SF mixed-use office space in the Dogpatch neighborhood of San Francisco.
The new headquarters will house Curry's eight businesses and 13 entities focusing on athlete management, brand development and philanthropy.
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PEOPLE
Hathaway Dinwiddie Construction Co. announced key leadership transitions effective April 1, with Kevin O’Riordan appointed president and CEO and Sara Carmody taking the role of executive vice president and Northern California regional manager. Former CEO Greg Cosko will transition to executive chairman.
O’Riordan, a 40-year veteran in the construction industry, previously oversaw Northern California operations and various company sectors. Carmody, with 30 years of experience, has managed significant life sciences projects totaling more than 10M SF.
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SALES
CBRE facilitated the $5.6M sale of Pacifica Apartments, a 20-unit market-rate multifamily property in San Rafael to 55 Canal Street LLC.
CBRE’s Ben Mollahan and Adam Foley represented the buyer in the deal and noted the deal represents the largest sale by unit count in the county in the last six months.
Marin County has more than 95% occupancy and recorded 2% rent growth in Q3 2024, according to CBRE Research, and there have been no new market-rate multifamily deliveries in the county in 10 years.
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CONSTRUCTION
The Whitford of Dublin, a senior living community in Dublin, will open in the fall of 2026 within the Tri-Valley region. The 140-unit facility will provide assisted living and memory care residences, featuring studio, one- and two-bedroom floor plans ranging up to 1.5K SF.
The development will be situated on nearly 6 acres. A groundbreaking ceremony will take place on April 8 and the leasing office will open in early 2026, with occupancy beginning in fall 2026.
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FINANCING
A joint venture between Alexandria Real Estate Equities Inc., Uber Technologies, and the Golden State Warriors received $500M in financing for 1655 and 1725 Third St., consisting of two Class-A, 11-story office properties totaling 586K SF in San Francisco’s Mission Bay neighborhood.
Brad Zampa and Mike Walker on CBRE’s debt and structured finance team secured the nonrecourse five-year fixed-rate CMBS loan from Goldman Sachs and Barclays.
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CBRE arranged $25M in financing for 88 Hillside Apartments, a 95-unit, 109K SF multifamily property in Daly City, on behalf of Hines.
Mike Walker, Jesse Weber, Andrew Behrens and Brad Zampa of CBRE secured the five-year loan from a life company.
The property was 96% leased at the time of the financing agreement.
