This Week's Bay Area Deal Sheet
The Isle House is the latest residential building to open in the middle of the San Francisco Bay.
The 259-unit Treasure Island project is helping the island and neighboring Yerba Buena Island emerge as the newest neighborhoods in San Francisco.
When all four projects are complete, they will add 8,000 new units, including 2,200 affordable housing units, to San Francisco’s housing totals. There will also be 300 acres of parks, trails and open space as well as new restaurants, shops and art installations.
Local developer Wilson Meany and real estate investment firm Stockbridge Capital Group are the developers in a partnership known as Treasure Island Community Development.
Designed by David Baker Architects, the 22-story project has a mix of apartments and townhomes, 1,100 SF of street-level retail space and a central courtyard. The property’s location offers views of the Bay and Golden Gate Bridge as well as the San Francisco skyline.
LEASES
CBRE represented Mission Rock Partners in negotiations for a 1.8K SF lease with Flour & Water Hospitality, the owner of a pizzeria chain based in San Francisco.
The location is 1090 Dr. Maya Angelou Lane in Mission Bay.
SALES
Through a so-called friendly foreclosure, Lakeside Group of Oakland and London-based Rubicon Partners are the new owners of 180 Grand Ave. in Oakland.
The joint venture paid $30M for the 15-story, 276K SF office building, an 82% discount from when the sellers bought it in 2017 for $175M, the San Francisco Business Times reported.
KKR and Oakland-based Harvest Properties were the sellers. The Business Times reported that Harvest recapitalized the building in 2019 but later defaulted on loan payments.
PERSONNEL
JLL beefed up its presence in Silicon Valley in late September. Seven new hires were added to JLL's office in the region, according to a press release.
Gregory Davies joins the firm from Cushman & Wakefield and will serve as managing director in the Menlo Park and San Jose office.
George Quinn came on board as executive vice president from Colliers and will also sit in the Menlo Park and San Jose office.
Also from Colliers, Mike Covell joins as a senior associate and Maryjane Archuleta Bengiveno comes on board as an associate.
Bryte Bellotti joins JLL as managing director from Newmark Real Estate.
Former Cushman & Wakefield broker Alex Lageman joins as senior managing director.
Sean Toomey now serves as managing director. Most recently, he was with Colliers.
DEVELOPMENTS
A Denver-based company has big plans to build a 310K SF data center on an 11-acre site at the Eden Landing Business Park in Hayward, the Business Times reported.
Stack Infrastructure submitted plans to the East Bay city’s planning commission to develop a three-story property at 26100 Eden Landing along with two single-story accessory buildings comprising 1.7K SF, two generator yards, an on-site substation and a switching yard.
CORRECTION, OCT. 14, 10:40 A.M. PT: The personnel section has been updated to include two additional JLL hires, and one of the seven names has been corrected.
