Wareham, one of the biggest developers in the Bay Area with over four million square feet of property, says the attraction of its 20-acre, 440,000-sf EmeryStation development at 5858 and 5980 Horton St. is class A space complete with terraces, views of the San Francisco Bay and a fiber-wired and wireless infrastructure, all within close proximity of multiple forms of public transportation – and at a decent price.
"We are meeting current market needs by quoting rents that will allow people to sign," says Geoffrey Sears, a partner in Wareham. Sears tells GlobeSt that current rates range from $2.75/sf to $3.00/sf (NNN) with annual bumps within the term. "In today's market landlords and tenants both have equal bargaining power," adds Sears. "Each tenant has a different need and we try to be flexible with that as we want to make a marriage that will work over time and help companies who come here to grow, so being flexible is important in a strong tenant/landlord relationship."
The largest recent deals at EmeryStation were Fair Isaacs, a provider of risk management technologies and consulting, and Whole Foods Market, the world's largest retailer of natural and organic foods. The operations each took about 15,000 sf.
Sid Ewing and Darin Bosch of CB Richard Ellis are leasing EmeryStation and Heritage Square for Wareham. Fair Isaacs, which is relocating from Berkeley, was represented by Bill Walsh of CB Richard Ellis. Whole Foods Market, moved from South of Market in San Francisco, was represented by Charlie Allen of Cushman and Wakefield.
Other recent EmeryStation deals include: Economists Inc., a provider of economic analysis and consulting services, which recently leased more than 7,000 sf; Ecomnetrix, a Canada-based electronic messaging applications company that moved from Oakland into more than 2,500 sf; Cornish & Carey Commercial, which has taken more than 2,000 sf for a branch office; and Westamerica Bank, a regional community bank that has taken more than 2,000 sf.
Kenneth Meyersieck of Colliers Parish International represented Westamerica. Anthony Stratton of Colliers Parish International represented Economists Inc. Tony Beatty of BT Commercial represented Ecomnetrix.
At HeritageSquare, a 12-acre complex at 6121 Hollis Avenue, Ewing and Bosch sealed a 24,000-sf lease renewal with Chiron, a leading biotechnology company operating in three global healthcare markets. Sam Swan of Cushman Realty represented Chiron.
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