The Nimitz Group, owner of Mare Island Maritime Campus, retained JLL to provide brokerage services for the 350-acre property in Vallejo. The seller will consider transactions, piecemeal leasing or strategic partnerships, according to a release.

In addition to more than 2M SF, the North Bay campus, established in 1854 as the first permanent naval base on the West Coast, has four dry docks, three shipways, a mile of ship berthing and deepwater channel access. It also has more than 30 megawatts of power capacity.

Greg Matter, Matt Bracco, Kristi Childers, Karlen Beitman, Peter Miscovich, Matt Do and Tom Taylor are leading marketing and advisory efforts for JLL and have engaged commercial and naval shipbuilders, defense contractors, maritime operators and institutional investors in marketing efforts for the former ship- and submarine-building site that closed in 1996.

“This level of existing maritime infrastructure simply doesn’t exist anywhere else on the West Coast in private hands,” Beitman said. “Mare Island offers speed, scale and strategic capability that would take decades and billions to recreate from scratch.”

SALES 

Precision optical manufacturer Fabrinet purchased Stadium Place in Santa Clara, a three-building research and development campus at Bunker Hill Lane and Great America Parkway, for $76.9M from GA Parkway Property.

Fabrinet, which is headquartered in Thailand and has a West Coast manufacturing facility at 4900 Patrick Henry Road in Santa Clara, will occupy a vacant 128,500 SF building at 5200 Great America Parkway in early 2027.

Derek Cuschieri and Todd Campbell of Avision Young represented Fabrinet in the transaction and will market approximately 55K SF of vacant space at 2903 and 2933 Bunker Hill Lane.

*** 

Sack Capital Partners of San Francisco added to its portfolio of more than 3,700 keys in the western U.S. with the acquisition of the 122-unit Koda Apartments at 39867 Fremont Blvd. in Fremont. SCP purchased the property for $35.8M in a joint venture with LEM Capital of Philadelphia. The former owner, an affiliate of Harbert Management Corp. of Birmingham, Alabama, invested $10M in capital improvements at the property over the past six years.

*** 

Bell Partners of Charlotte acquired the 195-unit Celeste apartment complex at 401 Cypress Ave. in South San Francisco for $130M. Sares Regis completed the eight-story multifamily property in 2025. The complex will be rebranded as Bell South City West and joins the company’s adjacent 260-unit Bell South City multifamily asset at 400 Cypress Ave. that was purchased from Sares Regis in 2022. Berkadia brokered the most recent transaction for Bell Partners, which owns 1,271 keys in the Bay Area among its 65,000-door portfolio.

*** 

GTIS Partners of New York and GreyBrick Partners of San Francisco acquired The Wilson, a 67-unit property at 973 Market St. in SoMa. It’s the ninth small-scale JV purchase totaling 193 keys for the two firms, which are targeting multifamily repositioning opportunities in various downtown San Francisco neighborhoods.

*** 

SFF Realty Partners of San Francisco purchased a 104K SF R&D campus occupied by Bosch North America for $46M from Clarion Partners of New York City. The four-story building on 4.6 acres at 384 Santa Trinita Ave. in Sunnyvale was completed in 2013.

Newmark’s Steve Golubchik, Edmund Najera, Darren Hollak and Brendan Raney represented Clarion Partners in the transaction.

CONSTRUCTION AND DEVELOPMENT

KBR Martinez, a joint venture between Kolega Real Estate of Orinda and BayRock Multifamily of Pleasanton, acquired a 4.6-acre industrial development site at 310-314 Embarcadero St. in Martinez from a private family trust. KBR Martinez plans to develop and operate two to three industrial outdoor storage yards at the site and has retained Tyler Epting, Kris Hagar and Josh Messing of Cushman & Wakefield to handle leasing and marketing.

PEOPLE 

Bennett Faloni joined Maven Commercial as senior associate in its San Francisco office. Faloni will focus on industrial leasing and sales under Maven Commercial partner Dominic Morbidelli.

LEASES 

Artificial intelligence-powered sales and marketing startup Clay leased 44K SF at the Mills Building at 220 Montgomery St. in San Francisco, bringing year-to-date leasing at the historic 1891-built property to more than 102K SF. Recent leases represent 21% of the 626K SF property and are a result of spec suite development initiatives by owner The Swig Co., said Executive Vice President and Director of Leasing Cory Kristoff. 

Bart O’Connor, Mark Geisreiter and Hannah Potter of Newmark represented The Swig Co., while Mo Spikes, Derek Feinman and Aaron Ellison of Newmark represented Clay.

FINANCING 

Priority Capital Advisory closed a $16.5M cash-out refinance loan for The Atrium at Lakeside, a 99K SF multitenant office building at 2880 Lakeside Drive in Santa Clara, on behalf of property owner Miramar Capital. 

Founder and President Zachary Streit closed the loan for the boutique CRE capital advisory firm headquartered in Los Angeles.

*** 

CBRE’s San Francisco-based debt and structured finance team of Mike Walker, Brad Zampa and Andy Gross arranged $67.4M in financing for Forge North First, a five-building R&D and advanced manufacturing campus spanning 206K SF on 23 acres in San Jose’s Golden Triangle submarket. The nonrecourse, five-year bridge loan with a floating rate was arranged for property owner Four Corners Properties, which acquired the campus in January from BXP for $50.5M in an all-cash transaction.

*** 

Gantry secured a $9.6M permanent 10-year fixed rate loan to refinance maturing acquisition debt on a two-building, 37,600 SF light industrial property at 2290 De La Cruz Blvd. in Santa Clara. 

Tony Kaufmann and Jake Davis of Gantry’s San Francisco office represented the owner, a private investor. Gantry will service the loan for the lender, a Gantry correspondent insurance company lender.