4040 Civic's New Lease on Life
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We recently checked in with Kilroy to find out what's up with 4040 Civic Center, a five-story San Rafael building the landlord put on the market this year. It hasn't closed yet, but a Kilroy spokeswoman tells us the sale process is going very well so far. (We expect that's music to chairman John Kilroy's ears, above.) The new buyer will also get a new tenant: We've learned that residential renovation contractor and sales brokerage Renovation Realty just expanded to the Bay Area through the company's franchise operation.
Renovation Realty will be taking a suite at 4040 Civic, above. The San Diego-based firm uses its own capital to renovate residential properties before placing them on the market for sale as the listing brokerage, leaving zero out-of-pocket costs for the homeowner. Now franchisee and 20-year market vet David Scafani—who previously managed a real estate investment group—is introducing the model in all nine counties in the Bay Area.