San Francisco
Sunset Development, MetLife JV Grabs 2 MSF AT&T Campus in Bay Area
Sunset Development Co. and MetLife Inc. have teamed on a joint venture to acquire the 2 million-square-foot AT&T campus in San Ramon, Calif.
Stanford Hotels Affiliate to Develop San Francisco’s First New Upscale Hotel Since ‘08
SOMA Hotel, a privately held hotel development company and an affiliate of the Stanford Hotels Group, has acquired a prime development site in San Francisco’s South of Market neighborhood and plans to build the first full-service hotel in the city since 2008.
Invesco Buys 388 KSF San Francisco Office Tower from Hines
Invesco Real Estate has purchased the 24-story, 388,370-square-foot Class A office tower at 101 Second St. in San Francisco’s SoMa district from Hines, the latter’s San Francisco office announced Friday. The closing took place on Jan. 7, a Hines spokesperson told Commercial Property Executive. Financial terms of the sale were not disclosed.
Invesco Buys 388 KSF San Francisco Office Tower from Hines
Invesco Real Estate has purchased the 24-story, 388,370-square-foot Class A office tower at 101 Second St. in San Francisco’s SoMa district from Hines.
San Jose’s Santana Row Completes Agreement With Car Charging Group for New EV Charging Stations
The San Francisco Bay ended 2013 on an extremely high note for the local office market, offering great prospects for the area’s real estate market in 2014. To open the year, big green energy news emerged as Car Charging Group, Inc. announced a newly sealed agreement with Federal Realty Investment Trust to expand the availability of EV charging services at Santana Row.
Mitsui Fudosan Develops 202 KSF Office Property in San Francisco
Looking to take advantage of the hot tech market in San Francisco, Mitsui Fudosan America has formed a joint venture with SKS Partners to develop a 202,000-square-foot Class A, speculative office building at 270 Brannan St. near Second Street in SOMA’s historic South Beach district.
Holiday Inn Express Hotel Mountain View – S Palo Alto Opens Following $1M Renovation Project
InterContinental Hotels Group has recently added a new hotel to its portfolio in the Mountain View and Palo Alto areas. The Holiday Inn Express Mountain View S Palo Alto opened at the end of the year after a more than $1 million renovation project.
New Partnership between LaSalle Investment Management and Harvest Properties Completes First Purchase as Silicon Valley Tech Buzz Continues
Fueled by the numerous investment opportunities that are currently available in the booming tech market of Silicon Valley, commercial real estate company Harvest Properties has moved on the market for one of the most high-profile office assets in San Jose. The full service investment and development firm recently announced the purchase of 60 South Market St. for a fee that was not released to the public. This is the company’s first acquisition as part of the newly formed partnership that Harvest has created with LaSalle Investment Management.
MetLife Announces Stake in Joint Venture that Will Develop 42-Story Residential Tower in Rincon Hill
As the San Francisco Bay Area’s office market took off just before the end of the year, a major boost was also given to the area’s luxury residential market. MetLife, the provider of insurance, annuities and employee benefits, has announced its commitment in the development of a brand new multifamily high-rise building that would set the bar for luxury apartment units in San Francisco.
Another Office Tower Trades Hands in San Francisco as Local Market Soars
As the San Francisco office market becomes one of the healthiest local markets in the entire country, the rush is on for investors to capitalize on the impressive appeal of the San Francisco Bay Area before 2013 draws to a close. We’ve recently reported on the major deals completed in the city for high-profile office assets, and now KBS Real Estate Investment Trust III is adding to an already impressive tally of major real estate transactions completed just weeks before the end of Q4. The public non-traded REIT recently shelled out $121 million for an office building in the city’s South Financial District.