This Week's San Francisco Deal Sheet
The weekly compilation of the San Francisco Bay Area metro’s biggest leases, sales, financing deals, construction updates, and personnel moves. Have news you’d like to submit?
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The New California Land Co. sold 1430 Yosemite Ave., a parcel in San Francisco’s Bayview neighborhood containing 10 industrial buildings, for $15.2M. Mike Davis and Will Cliff of Colliers represented both parties in the transaction. An entity called NSHE CA DALI purchased the property.
The property is 52% leased, with industrial tenants operating on month-to-month leases. The property totals 52K SF, with buildings ranging in size from 5K to 7K.
The parcel is zoned for production, distribution and repair. According to Colliers, the buyer plans to complete renovations to the property and improve occupancy.
DEVELOPMENT
The public review period for a proposed life sciences property at 405 Industrial Road in San Carlos, California, began last week, following the completion of the first draft of the project’s Environmental Impact Report, according to SF YIMBY.
The project is slated to replace a self-storage facility with a six-story building clocking in at 411K SF, with 205K SF of leasable space and a 206K SF parking garage. Beacon Capital Partners and Menlo Equities are joint venture partners on the project.
PEOPLE
Allen Matkins promoted four of its partners to new leadership positions last week. Jessica Chu and Kate Kraus were named co-chairs of the firm’s tax and joint ventures group.
Scott Leipzig was named chair of the firm’s litigation department, while Kamran Javandel was named co-chair of the firm’s land use, environmental and natural resources group.
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RangeWater Real Estate, an Atlanta-based multifamily real estate firm, promoted Danielle Koontz to senior director of business development.
Koontz will manage the company’s multifamily growth across the Sun Belt and Mountain West regions. Koontz will be based in Palo Alto, California.
LEASES
Barker Pacific Group, owner and property manager of downtown San Francisco’s One Sansome building, signed real estate firm Ellis Partners to a 10-year lease on the property’s 15th floor. The firm will occupy 6.5K SF, according to ConnectCRE.
“We are excited to join the roster of impressive tenants at One Sansome,” Ellis Partners Managing Principal Jim Ellis said in comments to ConnectCRE. “The tower’s convenient location and outstanding amenities helped secure our decision to relocate our offices.”
Barker Pacific purchased the property in 2010. One Sansome is a 42-story, 650K SF building, which the company plans to expand by adding a hospitality concept to the lobby. Barker Pacific has spent over $100M in renovations to the building since purchasing it.
THIS & THAT
Golden Gate Meat Co., a fixture of San Francisco’s Ferry Building, announced it will close after 20 years of business, according to the San Francisco Chronicle. The company did not comment on the closure, which will occur Aug. 20.
“We had hoped to keep Golden Gate Meat in the marketplace, but we respect the owners’ decision to embark on the next chapter of their lives,” Ferry Building General Manager Jane Connors said in a statement to the Chronicle.
The location opened in 2003 following renovations to the Ferry Building. The closure is one of several recent Ferry Building closures, which include Cowgirl Creamery, Vive La Tarte and Frog Hollow Farm.
