This Week's Bay Area Deal Sheet
The State Bar of California sold its San Francisco headquarters at 180 Howard St. to Ridge Capital Investors for $54M. The law association will remain in the full footprint of the building for approximately the next year before consolidating into 68K SF, or slightly less than a third of its current space, the San Francisco Business Times first reported.
The State Bar of California bought the 13-story building for $22.5M 25 years ago. The pandemic, coupled with what the agency described as concern from the state legislature about its ownership of the building, prompted the agency to initiate the building’s sale in 2021.
CONSTRUCTION AND DEVELOPMENT
Bayhill Ventures filed plans for a residential development in downtown San Francisco. The project will stand approximately 840 feet tall and house 672 residences. It will include a fifth-floor bridge connecting to Salesforce Park, vehicle and bike parking, and close to 30K SF of amenity space.
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MBK Rental Living started pre-leasing its three-story residential project in Morgan Hill. The development will offer 389 one- and two-bedroom townhomes. Amenities include a pool and spa, cabanas, a fitness center and a yoga studio.
LEASES
The Blackhawk Plaza in Danville received a boost with big leases that will bring a movie theater to the shopping center, The Mercury News reports. The center has landed new tenants that will fill more than 53K SF in the complex. Those tenants include Apple Cinemas, Combat Sports Academy and OsteoStrong.
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Mission Rock Partners, a collaboration between the San Francisco Giants, Tishman Speyer and the Port of San Francisco, signed an agreement to bring Quik Dog, a fast-casual restaurant, to the Mission Rock mixed-use development. The establishment will take up just over 4K SF at street level.
PEOPLE
Prologis has announced three new appointments to its executive committee. Carter Andrus has been named chief operating officer and Joseph Ghazal was appointed chief investment officer. Susan Uthayakumar, chief energy and sustainability officer, will retain that position and join the executive committee. The appointments take effect Jan. 1, 2024.
The news follows the announcement that current Chief Operating Officer Gary Anderson will move to a new role as senior adviser effective Jan. 1 and retire on June 30, 2024.
