This Week's Bay Area Deal Sheet
Amazon this week unveiled updated renderings for an industrial facility it intends to build in San Francisco's Design District.
The project includes 2,500 SF of ground-floor commercial space facing a 13,700 SF public outdoor area between Berry and Seventh streets, the San Francisco Chronicle reported.
The building will have solar panels, a green roof and employee parking.
In 2020, Amazon acquired a 6-acre site at 900 Seventh St. from waste management company Recology for $200M.
LEASES
One of the Bay Area’s biggest sporting goods retailers has strung together 86K SF at Almaden Plaza at 5353 Almaden Expressway in San Jose.
Sports Basement has assumed multiple spaces at the plaza, according to the San Jose Mercury News. Broker Jim Fletcher told the paper that the tenant will lease a Barnes & Noble store and a space formerly occupied by Buybuy Baby.
SALES
MidPen Housing has its sights on a 60-unit affordable housing complex in San Mateo, according to the San Francisco Business Times. The Foster City-based nonprofit developer is looking into purchasing 2000 S. Delaware St. for $24M, or $400K per unit.
Westlake Urban would be the seller. The complex, which occupies land owned by the city and leased to Westlake, is next to another 60-unit affordable complex at 1990 S. Delaware St. that MidPen built in the 2010s and currently operates.
DEVELOPMENT
MidPen is also busy developing a transit-oriented affordable housing project in Silicon Valley.
In late July, Ira D. Hall Square’s development team celebrated the construction-framing milestone for the 176-unit project for renters earning 30% to 70% of the area median income — between $37,400 and $125K. Directly across from Lawrence Caltrain Station in Sunnyvale, 45 of the apartments are reserved for homeless families and individuals.
An array of public and private organizations are financing the project, including state and county entities, Bank of America and Destination: Home.
The community is named after the late Ira D. Hall, MidPen's founder.
PERSONNEL
San Francisco-based broker Miles Treaster has taken over the reins as president of Cushman & Wakefield’s Americas Capital Markets. The Real Deal reported that he will start working for the Chicago-based brokerage in September.
In his new post, Treaster will oversee investor services in North and South America. Most recently, he was at Five Horizons Partners, a San Francisco real estate investment and advisory firm he co-founded.
