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3/10/2010
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Cassidy Turley BT Commercial Significant Deals – March 10, 2010
Cassidy Turley BT Commercial Significant Deals – March 10, 2010
Equity Office Properties Sells Prestigious Office Building to Southwest Community H.C. for $6.4 Million
March 10, 2010 – Jeff Negri, Greg Moss, Tony Lucchesi and Niel von Doepp with Cassidy Turley BT Commercial’s North Bay offices have represented seller Equity Office Properties in its sale of a ±42,500-square-foot Class A office building in Santa Rosa. The buyer was owner/user Southwest Community Health Center, which purchased the two-story building for $6,410,000 ($151 per square foot). Known as the Fountaingrove Executive Center, the building is located at 3569 Round Barn Circle, considered a prestigious North Bay business address. The property is well located near amenities and offers spectacular views in all directions and provides easy access to Highway 101. Southwest Community will occupy the entire building.
Elliott Labs, an NTS Company, Extends/Expands into 56,387 SF in Silicon Valley; Opens New Testing Facility
March 10, 2010 – Kalil Jenab with Cassidy Turley BT Commercial’s Palo Alto office has represented tenant Elliott Laboratories, a National Technical Systems Inc. (NTS) company, in the lease expansion and extension of two industrial properties totaling ±56,387 square feet in northeast Silicon Valley. In the first transaction, Elliott Labs inked a brand new long term lease of 30,316 square feet as part of its expansion. The building is utilized as a new custom-built Climatic, Environmental and Dynamics Product Testing Laboratory housing a wide range of state-of-the-art testing facilities and equipment.
“This expansion effort represents a critical element of our business strategy here in Northern California, bringing in all of the complementary testing capabilities needed to fully round out our existing portfolio of services”, said Eddie Pavlu, General Manager of NTS Silicon Valley.
In the second transaction, Elliott Labs signed an early renewal on its 26,171 square feet of space, which will coincide with the term of its expansion space. Both properties, which serve as testing laboratories for Elliott Labs, are owned by ProLogis.
Silicon Turnkey Solutions Adds Second Facility in Oak Creek Business Park
March 10, 2010 – Derik Benson with Cassidy Turley BT Commercial’s San Jose office has represented owner/user Silicon Valley Turnkey Solutions (STS) in its acquisition of a 46,416-square-foot R&D building in Milpitas for an undisclosed price. The seller was iStar Financial. The freestanding single-story building is located at 1804 McCarthy Boulevard in the Oak Creek Business Park. This is STS’s second facility within this Park.
Inquira Fills Sublease Gap at Bayhill I; Relocating Within San Bruno
March 10, 2010 – Clarke Funkhouser and Kevin Waldman with Cassidy Turley BT Commercial’s Burlingame office have represented subtenant Inquira in a 17,390-square-foot office sublease transaction at 900 Cherry Avenue in San Bruno. Inquira, a leading provider of enterprise knowledge solutions, sublet the top floor of the six-story building from The Gap. The building, referred to as Bayhill I, is owned by CREA. Inquira is relocating from a nearby building on Traeger Avenue.
Invisible IT Sublets 11K SF Office Space in Downtown M.V. to Plastic Logic
March 10, 2010 – David Hiebert, Daniel Persyn and Ron Miller with Cassidy Turley BT Commercial’s Palo Alto office have represented the sublessor, Invisible IT, in its subleasing of 10,972 square feet of Class A office space in downtown Mountain View to sublessee Plastic Logic. The space is a part a multi-story Class A office building known as the Mountain View City Centre located at 650 Castro Street in the heart of downtown.
Buswest Drives Up Occupancy Nearly Twofold in Woodland
March 10, 2010 – Jeff Post with Cassidy Turley BT Commercial’s Sacramento office has represented tenant, Buswest, and landlord, Wm. Kent Ramos, in a 25,032-square-foot warehouse lease renewal and expansion at 210 North East Street in Woodland. Buswest is nearly doubling in size from its previous 13,500 square feet—and additional 1-acre of yard—of occupancy at the property.
Rinco International Doubles Size to 24K SF at Hayward Industrial Park
March 10, 2010 – Jay Hagglund, Adan Martinez and Eddie Shuai with Cassidy Turley BT Commercial’s Oakland office along with Joe Fabian of Cornish & Carey have brokered a 24,000-square-foot warehouse lease renewal and expansion between landlord Hayward Industrial Park Associates and tenant Rinco International, Inc. The space is located on Eichler Street as part of the Hayward Industrial Park. Rinco had been occupying 12,000 square feet of space prior to this transaction. Hagglund and Fabian represented Hayward Park, and Shuai and Martinez represented Rinco.
Berryessa Industrial Park Gains New Tenants, Kaeser Compressors & Lifecare Solutions
March 10, 2010 – Jim Kovaleski and Dave Geissberger with Cassidy Turley BT Commercial’s San Jose office have represented property owner San Jose Investors V in two new lease transactions at the Berryessa Industrial Park in north San Jose. The first new tenant is Kaeser Compressors, which leased 9,492 square feet of industrial space. Kaeser is relocating from a nearby business park. The second new tenant in the project is Lifecare Solutions, which recently leased 7,335 square feet of R&D space.
Pur-fect Plastics and C&P Microsystems Sign New Deals in Petaluma
March 10, 2010 – Trevor Buck and Steven Leonard with Cassidy Turley BT Commercial’s North Bay office have brokered a 7,000-square-foot industrial lease in Petaluma between tenant Pur-Fect Plastics and landlord Jaeger McHugh. Pur-Fect Plastics, which provides technical assistance in all areas of blow molding, made the move to the larger, better equipped facility located at 1304 Scott Street to be able to better serve the industry. Buck and Leonard represented McHugh, and Buck also solely represented Pur-Fect.
In a second transaction, Buck and Leonard represented the same owner, Jaeger McHugh, in the lease of 5,200 square feet of industrial space in the Petaluma Industrial Park to C&P Microsystems.
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