This Week's San Francisco Deal Sheet
Amazon has found subtenants to backfill 431K SF of its industrial space in the East Bay, inking two deals in San Leandro.
Amazon subleased one of the properties, a 137K SF building at 100 Halcyon Drive, to Third Wave Automation, a company that manufactures autonomous forklifts, according to the San Francisco Business Times. Details of the subleasing deal were not reported.
The company also secured a tenant to sublease a 294K SF building at 200 Halcyon Drive in March. Amazon applied to use the property as an indoor delivery station but put its application on hold, SFBT reports.
Each sublease deal was for five years.
SALES
Bridge Investment Group purchased a 224-unit multifamily property in Suisun City in Solano County, dubbed ReNew on Sunset. The property was acquired for $72M from FPA Multifamily. The price per unit was $321K. Cushman & Wakefield brokered the sale, with Jason Parr, Scott MacDonald, John Hansen, Michael Bissada and Sydney Ladrech representing FPA Multifamily in the transaction. The property, located at 831 Pintail Drive, consists of 68 one-bedroom/one-bathroom units, 136 two-bedroom/one-bathroom units and 20 two-bedroom/two-bathroom units.
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CA Industrial, the industrial and logistics arm of CA Ventures, closed on five transactions that totaled $272M and plans to develop over 670K SF of industrial space across California and Washington. CA Industrial has partnered with DWS, Four Stones Real Estate, American Realty Advisors, Realterm and Transwestern, with industrial developments planned across California cities that include Watsonville, Richmond, La Puente and Union City.
LEASES
Basin Street Properties secured new tenants for a 99K SF complex dubbed Shoreline Office Center. Newmark arranged six new leases totaling 60K SF on the property, which is located in Mill Valley, California. The companies involved include the Club Evexia, a fitness and wellness center that is expanding from 16K SF to 22K SF; Every Man Jack; OBE Worldwide; and Jyzen Labs. Polsinelli represented CA Industrial in the transactions.
CONSTRUCTION AND DEVELOPMENT
DivcoWest has secured $124M in financing arranged via CBRE brokers Brad Zampa and Mike Walker, which the developer will use to upgrade an office building at 5000 Shoreline Court in South San Francisco. DivcoWest purchased the building at the beginning of 2022 for $164.5M, according to The Mercury News. DivcoWest plans to upgrade the existing 138.4K SF space to cater to the life sciences and biotech industries.
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Tishman Speyer and the San Francisco Giants will jointly develop a new mixed-use facility dubbed Mission Rock. The project will be composed of four buildings, with a unit count of 1,200. Forty percent of that total will be dedicated to affordable to low- and moderate-income tenants. Perry Architects will serve as the executive architects on the property, and Swinerton is the general contractor.
