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? Email joseph.gordon@bisnow.com.
Accu Logistics LLC signed a 94K SF industrial sublease at 2350 Williams St. in San Leandro. The lease begins in November. The building contains seven docks, along with 2,500 SF of office and 23-foot clear heights.
Bob Ferarro, Michael Barry and Chris van Keulen of CBRE represented the landlord, Service West, while Colliers represented Accu Logistics.
“Despite economic headwinds and volatile markets, the industrial market along the I-880 corridor continues to show normal, if not better, leasing activity," Barry said in a press release. "The property’s proximity to the Oakland Airport and Port of Oakland is highly desirable among industrial users and ideally situated to service the broader Bay Area.”
SALES
A seven-unit apartment complex in the Mission Hills neighborhood of San Francisco sold for $2M.
Aron Bove from Marcus & Millichap and Frank McLin of Heartland Real Estate facilitated the transaction on behalf of the respective trusts.
“Even in this rising interest rate market, well-located properties are still in high demand and garner multiple offers,” Bove said in a press release.
The complex contains four structures across three parcels, with a two-story single-family residence, a detached duplex, another single-family residence with an attached apartment, and a small cottage.
DEVELOPMENT
San Pablo Developers Inc. last week filed permits for the development of a mixed-use property at 3020 San Pablo Ave. in Berkeley. The project would contain residential and retail space, according to SF YIMBY.
The property will contain 29 residential units and will make use of a local density bonus. The application has yet to be approved by city officials.
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San Jose-based Briggs Development completed renovations on 1010 The Alameda, an office property in San Jose. The renovation was spurred by the pandemic and has a focus on indoor-outdoor spaces.
"The pandemic has forever changed the way people look at the spaces where they work," Briggs Development President Jeffrey Rogers said in a press release. "This building renovation symbolizes a dynamic post-COVID-19 indoor-outdoor office space model that is here to stay.”
PEOPLE
Kidder Mathews named David Nelson regional president of brokerage for Northern California and Nevada.
Nelson served as regional manager for Marcus & Millichap, covering markets in San Francisco and other parts of the Bay Area.
“David is a dynamic leader with deep experience in recruiting and leading professionals, and we are very fortunate to have him join us,” Kidder Mathews President and Chief Operating Officer Brian Hatcher said in a press release. "We are confident our clients and professionals will benefit significantly from his leadership and experience in the region."
THIS AND THAT
Mira, a 40-story Class-A condominium tower from Tishman Speyer at 280 Spear St. in San Francisco, hit 85% sold last week, bringing the total remaining residences to 55. The property contains 392 residences with asking prices from $1.2M to over $7M.
“We are excited to see Mira become a dynamic community within the East Cut neighborhood thanks to the addition of hundreds of new residents, vibrant retail stores, and a curated streetscape,” Tishman Speyer Senior Managing Director Carl Shannon said in a press release.
“As we sell through our remaining inventory, it is gratifying to see the exciting Studio Gang architecture and accompanying amenities of Mira appeal to buyers from San Francisco, the Bay Area, and beyond.”
