SAN FRANCISO-In the cities of San Bruno, Colma and Daly City projects are already in the works focused around transit stations. In thriving transit hubs like San Mateo, tenants are signing up for space within walking distance of transportation.
PETALUMA, CA-Orion Partners has brokered a handful of leases valued at more than $3.22 million recently for companies expanding or moving from higher rent areas. Most of the deals were for space in Sonoma County.
SAN FRANCISCO-Cisco is postponing expansion of two floors it occupies in Petaluma's Redwood Business Park, but the company is proceeding with development of 3.4-million sf in a Catellus Development Corp owned business park in Fremont.
SAN FRANCISO-Vacancies in class B space have risen from 2.3% at the end of the year to 16.5% today, and their rents have fallen to $55.32 per sf from $72.96 per sf a year ago. Class A offices rents are down to $74.16 per sf from $80.16 per sf in December.
SAN MATEO, CA-Glenborough Realty Trust signed two new tenants for the first new downtown office project here in 16 years. The 86,000 sf, six-story building is under construction at 101 Ellsworth and expected to be ready for occupancy in October.
SAN FRANCISO-Vacancies in class B space have risen from 2.3% at the end of the year to 16.5% today, and their rents have fallen to $55.32 per sf from $72.96 per sf a year ago. Class A offices rents are down to $74.16 per sf from $80.16 per sf in December.
ALAMEDA, CA-Simpata Inc., a provider of online human resources and benefits administration, recently moved its operations to Folsom in order to consolidate the company's Sacramento-based operations and lower operating costs while remaining in an area where skilled labor is readily available.
WALNUT CREEK, CA-Doerken Properties, which already owns shopping centers in Novato and Dublin, is acquiring Citrus Center, a 101,000-sf shopping center in Walnut Creek that is 100% occupied with tenants that include Bank of America, Washington Mutual and Nob Hill Foods.
SAN FRANCISCO-Virginia-based AvalonBay Communities Inc. has broken ground on a 250-unit luxury high-rise apartment tower within Catellus Development Corp.'s master planned urban development known as Mission Bay.
SAN FRANCISCO-The seller of the 170,000 sf Class A office building is HMS Gateway Office LP. HMS Gateway developed the property in 1999. The local investor group is called Consolidate Farms.