The building is being developed by a joint venture involving San Francisco-based Simeon Commercial Properties, Rockwood Capital and Gateway Financial. Simeon is the managing partner and developer, while the other two companies are providing the equity.
The new location will allow the mortgage company to house its 550-employee company under one roof. Currently, a majority of the workforce occupies 112,000 sf in Larkspur, with the remainder in 30,000 square feet in San Rafael.
The new lease is reportedly the largest lease in Novato since the min-1990s. The building is slated to be ready for occupancy in May.
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