This Week's Bay Area Deal Sheet
An industrial property in Oakland is re-emerging as a bustling center for cutting-edge technology developments.
JLL is looking for a suite of industrial clients to fill the 440K SF of industrial space at the American Steel building and satellite industrial sites in Oakland.
The companies to sign leases so far are Pyka, a pilotless and electric cargo aircraft manufacturer; Molten Industries, which is looking to create a market for low-cost hydrogen; ReSource Chemical, which seeks to make sustainable plastics; and Brix Factory Brewing, a maker of artisanal beers.
ScanlanKemperBard spent $133M to redevelop buildings that once held American Steel and Pacific Pipe Co., including the $82.5M cash purchase of the properties in 2021.
PEOPLE
Kidder Mathews added three members to its Bay Area multifamily team. Louis Kwok and Gabriel Sahagun will join the team's Pleasanton office, and Ed Vergara has joined the firm in Silicon Valley. All three members formerly worked with Marcus & Millichap, specializing in multifamily investment sales throughout the Bay Area.
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Kidder Mathews also hired Simon Vogt, who will join the Pleasanton office as senior vice president. Vogt will specialize in the leasing and sale of office and flex space. He comes from Lee & Associates in the East Bay.
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Blach Construction added Alice Chuan as chief financial officer and John Kern as director of information technology. The San Jose-based construction firm added Chuan from Rudolph & Sletten and Kern from Cisco Systems.
SALES
Jackson Family Wines and Ensemble Investments bought a 92-acre wine resort in the North Bay, including a hotel spa, meeting and event spaces, restaurants, a culinary garden and vineyards. The family behind Kendall-Jackson wines bought the property about a mile away from its founding vineyard in Sonoma County.
CONSTRUCTION AND DEVELOPMENT
Grosvenor topped off an apartment building at 1951 Shattuck Ave. in Berkeley. The building was designed by Solomon Cordwell Buenz and features 163 residences, 5K SF of retail space and two floors of parking.
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EAH Housing announced the beginning of its affordable housing project in Richmond. The two-phase project is slated for Nevin Plaza and will cater to seniors and people with disabilities. Phase 1 is slated to complete in late 2024 and calls for the renovation of the existing seven-story building.
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Jonathan Rose Cos. began construction on the Hunters Point Shipyard Blocks project, which will create 112 units of affordable housing and multifamily units on the shores of the San Francisco Bay.
FINANCING
CBRE secured a $15M refinancing for Lincoln Square Shopping Center in Oakland. The 44K SF grocery-anchored shopping center is situated on 4.1 acres in the Oakland Hills. Shaun Moothart, Bruce Francis, Doug Birrell and Bob Ybarra secured the 10-year interest-only loan on behalf of the owner.
THIS AND THAT
San Francisco no longer boasts the highest rents in the Bay Area, according to Zumper. Mountain View, Cupertino and Santa Clara all featured higher monthly rents in the last quarter.
