LARKSPUR, CA—Larkspur is at the heart of the current resurgence in the Central Marin County office market, bolstered by dramatic expansion in San Francisco. The Larkspur market is also experiencing high demand by business owners who desire a location nearby the enclaves of Sausalito, Kentfield and Belvedere/Tiburon, and those who want to work close to home.
With that resurgence in mind, the neighbor of the famed Marin Country Mart has found a new owner. Real estate investment and management firm, Jamestown, acquired Larkspur Landing Office Park located at 700-1100 Larkspur Landing Circle. The seller was Equity Office Properties. The terms were not disclosed.
Situated on 9.4 acres, the three-building campus totals 199,046 square feet of office space and was built between 1978 and 1980. Larkspur Landing's diverse mix of tenants includes hedge fund and wealth management firms, financial and professional services, insurance and private equity firms, and technology companies.
Jamestown's Michael Phillips tells GlobeSt.com: "Larkspur Landing represents an opportunity to continue our investment in boutique office and retail environments with an emphasis on creating distinctive communities. We look forward to collaborating with Jim Rosenfield and the team at the Marin Country Mart to add an office dimension to the community that he is building while bringing Jamestown's expertise to the Larkspur development."
The office complex features a campus with a centrally located, 100,000-square-foot courtyard with green space and outdoor seating. Each of the project's buildings is connected by a bridge to the central courtyard.
The property is across the street from the Marin Country Mart, an open-air shopping destination featuring a variety of retail amenities, including eateries, boutiques, fitness facilities and other services, enhanced by frequent community and special events.
The property is located directly across from the Larkspur Ferry Terminal, which offers direct service to the Financial District and AT&T Park, and connects with the Marin Airport, which provides daily service to the San Francisco International Airport. The location is convenient to Highway 101. Additionally, current plans for the Sonoma-Marin Area Rail Transit will terminate this rail system just south of the property, providing a major future amenity for the property's tenants.
Larkspur complements Jamestown's existing creative office portfolio in San Francisco that includes 731 Market Street, 799 Market Street and Waterfront Plaza. Jamestown has a reputation for restoring and enhancing high profile, historic real estate with a focus on exceptional retail and commercial experiences. Examples include San Francisco's Ghirardelli Square, Atlanta's Ponce City Market and Chelsea Market in New York City. Jamestown's Bay Area portfolio also includes Alameda South Shore Center and Fourth Street—a retail project located at the southern end of Fourth Street in Berkeley, CA.
Equity Office Properties was represented by JLL's Bay Area capital markets group.
As previously reported, SKB acquired Hamilton Landing in Novato, CA.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
