Cassidy Turley Significant Deals in Northern California – May 18, 2012
InMobi Sprouting into 39,372 SF in San Francisco, Near AT&T Park; Company Relocating from San Mateo and Consolidating Operation
May 18, 2012 – Ben Paul, Jason Burch and Marc Pope with Cassidy Turley teamed up to represent tenant InMobi in the new lease of 39,372 square feet of office space in San Francisco. InMobi, the world's largest independent mobile ad network, will soon be relocating from its current office in San Mateo into portions of the 3rd and 4th floors at 475 Brannan Street in San Francisco, a property owned by PRU/SKS Investments, LLC. InMobi will be consolidating its office in San Mateo together with the office of San Francisco-based Sprout, a creative marketing and communication firm located on Mission Street that InMobi acquired last year. Built in 2000, the four-story building at 475 Brannan Street is well positioned just around the corner from AT&T Park and Interstate 80.
After launching in the U.S. and Europe in early 2010, InMobi has seen impressive growth. Its global network has grown from 7.5 Billion to 93.4 Billion impressions monthly. The company has offices located globally in Bangalore, Johannesburg, London, Nairobi, New York, Paris, San Francisco, Seoul, Singapore and Tokyo.
Win Woo Trading Buys 108,035 SF Former Ranch 99 Distribution Facility for $7 Million in Hayward; Win Woo Expanding Nearly Five-Fold in Hayward
May 18, 2012 – Sam Higgins and Tom Damaschino with Cassidy Turley represented seller Ho & Changua Chen in the sale of a 108,035-square-foot corporate/distribution facility in Hayward for $7,070,000 ($65.44 per square foot). The buyer was Win Woo Trading, LLC, a grocery wholesaler/distributor. Located at 31056 Genstar Road, the property was formerly used as 99 Ranch Market’s regional distribution facility. Win Woo Trading will be relocating and expanding from its 24,414-square-foot building it also owns on Clawiter Road. Win Woo’s new facility on Genstar Road sits on ±5.94 acres and provides the company immediate access to Interstate 880 via Whipple Road, with close proximity to Oakland International Airport, the Port of Oakland and San Francisco.
California College of the Arts Pens Acquisition of 10,000 SF Building in San Francisco’s Artsy Showplace Square for $3.4 Million
May 18, 2012 – Tony Lucchesi and Frank Fudem with Cassidy Turley represented buyer California College of the Arts, an owner/user, in its purchase of a 10,000-square-foot commercial building in San Francisco for $3,395,000 ($339.50 per square foot). The building is located at 350-360 Kansas Street in the heart of the City’s Potrero Hill neighborhood. The property’s location resides in a hip area known as The Showplace Square, recognized as one of the most dynamic areas in San Francisco with a distinctive character as the center for designer-oriented businesses and home to many schools and high-tech companies. The dramatic space features high vaulted ceilings and multiple skylights. The seller was HeadQuarters Advertising, Inc., also the previous occupant, which had completed a high-quality renovation of the property in 2009. The building is also formerly home to Horatius, a cafe / wine bar / art gallery.
Valin Corporation Relocating from Sunnyvale to 56,840 SF Building in North San Jose’s IBP
May 18, 2012 –Steve Pace, Dan Hollingsworth and Karen Sigl with Cassidy Turley represented landlord D.R. Stephens & Company in the lease of a 56,840-square-foot R&D building located in North San Jose to new tenant Valin Corporation. Valin, a leading provider of process control and automation solutions to the technology, energy, life sciences, natural resources, and transportation markets, will be relocating from Sunnyvale. The company signed a long-term agreement with D.R. Stephens for its new North San Jose operation. The property is located at 1941 Ringwood Avenue, positioned in San Jose’s International Business Park (IBP) with close proximity to Interstates 880 and 680.
Sleep Train Renews 128,168 SF Bay Area Distribution Center in Oakland
May 18, 2012 – Jeff Starkovich with Cassidy Turley and Todd OIiver of Terranomics Retail Services, the retail division of Cassidy Turley Northern California, have represented tenant Sleep Train in the lease renewal of 128,168 square feet of warehouse/distribution space in Oakland. Sleep Train’s Bay Area Distribution Center is located in the multi-building Enterprise Airport Center project, which is owned by ProLogis. Sleep Train has been in operation here since the 1990s and utilizes the facility to store, distribute and sell its high quality mattress brands. Sleep Train is ranked the #1 mattress retailer on the West Coast, with more than 90 California locations that span from Northern California to San Diego.
TR Manufacturing, Inc. Relocating/Expanding into 52,514 SF of R&D/Flex Space in Fremont
May 18, 2012 – Steve Pace, Dan Hollingsworth, Jon DeCoite, and Karen Sigl with Cassidy Turley represented landlord Clarion Partners in the new lease of 52,514 square feet of R&D/flex space in Fremont. The tenant is TR Manufacturing, Inc. which is taking approximately half of the single-story freestanding building located at 45757 Northport Loop West. TR is an industry leader in providing copper & fiber-optic cable/component interconnects and electro-mechanical assemblies to a wide variety of technology industries. The company is relocating and expanding from its nearby address on Christy Street. The Northport Loop West building—which was formerly home to LAM Research—provides easy access to freeways 880, 680 & 237 and Automall Parkway and is also close proximity to hotels, restaurants & open spaces.
User/Investor Buys Small Medical Office Building in Sunnyvale for $2.83 Million, Over $500 PSF
May 18, 2012 – Tenny Tsai with Cassidy Turley represented seller Patrick & Bette Ng in the sale of a 5,638-square-foot medical office building in Sunnyvale for $2,830,000 ($501.95 per square foot). The buyer(s) was Dr. Nirav and Dipa Mehta, previous tenants in the multi-tenant 2-story property. The new owner will be expanding their existing office into the remaining vacant unit in the building. The property is located at 895 East Fremont Avenue, situated near the joining of main thoroughfare El Camino Real in the central area of the city.