TricorBraun Signs 608K SF Industrial Lease: The Bay Area Deal Sheet
TricorBraun is consolidating its WinePak operations into a 608K SF warehouse at Interchange Logistics Center in Fairfield.
The North Bay Business Journal reported that it was the largest industrial lease in the Solano-Napa region in more than two years. The St. Louis-based packaging distributor is combining about 440K SF from three local sites into the new facility.
At the junction of Highway 12 and Interstates 80 and 680, the site provides access to the Bay Area, Sacramento and the Central Valley. Colliers’ James Ewing, Ward Richmond, Jon Quick and Phil Garrett represented TricorBraun.
PEOPLE
San Francisco investor Peter Horn joined Lincoln Property Co. as senior vice president of acquisitions for Northern California, tasked with growing the firm’s 25M SF Bay Area portfolio. He comes from BH Properties, where he specialized in high-vacancy assets.
SALES
Lincoln Property Co. and New York Life Real Estate Investors bought 600 Townsend West, a 210K SF Class-A creative office building in San Francisco’s Design District, for about $54M. The property hadn’t been on the market since its 1989 development. JLL brokered the sale.
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Graham Street Realty sold Hunt Plaza, a 25K SF commercial property in Corte Madera, for an undisclosed price. GSR acquired the site in 2021 and had it managed by affiliate Paramount Property Co. The buyer plans to redevelop the property, located 10 miles north of the Golden Gate Bridge, into a 99-unit affordable multifamily community.
LEASES
Advantest inked a long-term lease for the entire 94K SF Class-A research and development building at 3055 Orchard Drive in San Jose’s Golden Triangle. Cushman & Wakefield’s Jeff Cushman and Chris D’Ambrosia represented the tenant, while Newmark’s Joe Kelly represented landlord Intercontinental Real Estate Corp.
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CBRE arranged a 50K SF industrial lease at 274 Wattis Way in South San Francisco for Dimerco Express. CBRE’s David Black and Marshall Hydorn represented landlord Wattis Partners TIC, and Reliance Real Estate Advisors’ Blake Miller represented the tenant. It was the largest Peninsula industrial lease of the second quarter.
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Moloco signed a roughly 60K SF sublease with Meta at 135 Commonwealth Drive in Menlo Park for its new headquarters, doubling the ad tech firm’s Redwood City footprint, SFGate reported.
CONSTRUCTION AND DEVELOPMENT
King Street Properties completed key public amenities at The Landing, its new life sciences campus in Burlingame. The project features a bistro, a half-acre outdoor plaza with gathering spaces and art installations, plus a 150-person conference center.
FINANCING
BWE arranged $65M in bond financing for Ivy Park at Milpitas, a 199-unit senior living community near San Jose. The loan was secured for a joint venture of Blue Mountain Enterprises and SRM Development, with Oakmont Management Group managing. BWE’s Ryan Stoll and Taylor Mokris arranged the deal.
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Priority Capital Advisory’s Zachary Streit arranged $12.75M in senior debt for Nearon Enterprises to recapitalize Newark Auto Plaza, a 14.8-acre multitenant auto dealership complex in Fremont.
