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Real Estate Bisnow
The largest commercial real estate publication in the United States.
   
December 22, 2011 
 
 
MISSION BAY HOSPITALS AND HELIPADS

 
UCSF Medical Center’s Mission Bay Hospitals project executive director Cindy Lima has lots on her plate. The integrated complex of three facilities (for children, women, and cancer patients) totals 289 beds and 878k SF. We're adding more: Cindy's also a panelist at Bisnow's San Francisco Healthcare Summit Jan. 18.
 
Cindy (with director of project delivery Stuart Eckblad) says the Mission Bay project includes a hospital (under OSHPD jurisdiction) and an outpatient building, plus a two-story central plant. It's on schedule for a late summer '14 completion, having topped out in October. Being installed: the exterior walls and San Francisco’s only operating hospital helipad. (Which will be used for medical emergencies, not filming new versions of Mission Impossible.) Not only will this bring much-needed healthcare services to the city's underserved southeast sector, she says, but combined with the adjacent, rising UCSF research campus, it’ll jumpstart economic development of the entire Mission Bay Redevelopment Area. Cindy describes herself as a frustrated artist without enough time to spend in that mode, given the demands of this project and two teenagers. Still, last summer she created a series of ducks from driftwood while vacationing at Stinson Beach with her family. Hear more from Cindy by registering for our event at Mark Hopkins Intercontinental here.

Bisnow
LINKEDIN'S LATEST HOOKUP
 
It’s a good bet that Allen Matkins partner Eric Shelby has lots of connections on LinkedIn (and not just because he’s a busy real estate attorney). Eric recently represented HCP Inc in LinkedIn Corp’s 225k SF expansion at Mountain View's Shoreline Technology Park, bringing the biz networking site’s HQ to 373k SF. Eric tells us LinkedIn had been a subtenant of Microsemi for a portion of the new space, so it was a three-party deal in which the Microsemi lease was terminated and LinkedIn became a direct tenant. HCP also will build LinkedIn a new 70k SF building right next door. Eric notes that LinkedIn already leased a substantial amount of space at the park, so the fact HCP was able to accommodate its growth made it easier to stay in place. “Tenants are trying to expand, and they’re expanding in this way, which is subleasing and having us build new buildings.”
Deborah Aikins of GCA Law Partners repped LinkedIn. The brokers involved in the deal include CBRE’s Christopher Jacobs on behalf of HCP and Cornish & Carey’s Joe Hamilton, Rod Scherba, and Wayne Kumagai for LinkedIn. Despite the third-party component, Eric says they managed to get the deal documented and agreed to in under a month. But then he’s used to keeping an eye on fast-moving parts: Eric’s a huge fan of the LA Galaxy. Speaking of staying in place, he’s anxious to see whether Beckham is going to sign on for another season.

Bisnow
SUPER MARKET DEAL
 
According to Terranomics partner Mark Koenig (with daughter Kristina and wife Theresa in Florence, Italy), the old Mervyn’s boxes are “slowly but surely getting absorbed.” Mark should know: He and Terranomics’ John Schaefer, Dan Wald, James Chung, Patrick McGaughey, and Sam Finne repped building owner Macerich in the lease of a former Mervyn’s in Petaluma's Washington Square Shopping Center to Safeway. (Mark and his collegues also leased a former Mervyn’s in Livermore to TJ Maxx, Big Lots, and Petco, and are working on a third transaction in Milpitas.) Safeway plans to begin construction on a more than 63k SF, upscale Lifestyle store next month, with a grand opening expected in late June or early July. The center is managed by Sacto-based Fulcrum Properties.
Safeway has been a tenant since Washington Square was built in the early ’70s, occupying a 52k SF store in the center's middle section. Mark says the new store will anchor the southern end in an end cap location (bonus: virtually its own parking field). He calls it a smart move that allows Safeway to protect its presence in the North Bay market in the face of competitors like Sunflower, Sprouts, and Walmart’s Neighborhood Market concept. After the holidays, he and his team will be hitting the market hard to find a subtenant for Safeway’s existing space for Property Development Associates, a Safeway entity. Mark and Theresa have another daughter, Kimberly, a senior at the University of Arizona in Tucson. This June, the family hopes to visit Sydney, Australia, where Kristina works for the Marriott Corp.
 
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