This Week's Bay Area Deal Sheet
A 3,654-acre property along Coyote Ridge will be preserved as a wildlife corridor after The Conservation Fund purchased the property near San Jose from Z&L Properties this week.
The $16M sale was brokered by Kidder Mathews, and The Conservation Fund bought the property at a discounted price after the land was appraised at a $35M value.
The Richmond Ranch property will connect wildlife conservation areas along Coyote Ridge, enabling wildlife to migrate from the Santa Cruz Mountains to the Diablo Range.
Broadcom will sell nearly 70 acres on its Palo Alto campus at Stanford Research Park. The property has 13 buildings, outdoor areas, cafeterias, fitness centers and three parking garages, totaling more than 1M SF.
Gantry will refinance the Oak Hills Shopping Center in Pleasanton after securing a $8.6M permanent loan. The 120K SF center is anchored by a Raley’s grocery store and includes tenants like BMO Bank and Brick Fitness.
Bryan Crane joined Carmel Partners as their chief investment officer and managing partner. He most recently was at Veritas.
Anna Gwyn Simpson joined EAH Housing as their vice president of resident services. Most recently, Simpson was vice president of resident services at Eden Housing. Clarice Veloso-Lugo was promoted to vice president of communications at EAH Housing.
Megan Woodring joined JLL Capital Markets as a senior director in its San Francisco office. Woodring was most recently at CBRE, serving as director of their Capital Markets.
CONSTRUCTION AND DEVELOPMENT
Last week, Newmark facilitated a 98K SF industrial lease at 2177 Jerrold Ave. The City of San Francisco signed a long-term lease and plans to use the property for the Department of Homelessness and Supportive Housing.