Multifamily Developer Acquires Church/School Property in Fremont – Cushman & Wakefield Represents Seller

FREMONT, Calif., April 4, 2019 – Cushman & Wakefield announced today that a 2-acre property in Fremont, California, currently a church and school facility, has sold to a Bay Area-based multifamily developer for $8.525 million. The buyer, Roberts Fremont, LP, intends to construct brand new townhomes on the site.  Located at 41354 Roberts Avenue, the property’s current R-3-18 zoning generally permits up to 18 residential units per acre, subject to possible limitations. The property, however, remained unentitled at the time of sale. Cushman & Wakefield’s San Jose sales team, comprising Miki Vierra, Tenny Tsai and Aaron Fritz, represented the seller, Redeemer Church of Silicon Valley, in the disposition. The team’s expertise in selling specialty use real estate, including developable land, schools, and church properties, combined with their strategically targeted marketing approach, generated 14 offers from a variety of highly qualified buyers. This high demand enabled the Church to successfully [...]

By |2019-04-04T19:23:36-04:00April 4th, 2019|In the News|0 Comments

South Bay Development Company Sells New Orchard Corporate Center in North San Jose

SAN JOSE, Calif., March 5, 2019 – Cushman & Wakefield announced today the firm has advised the sale of Orchard Corporate Center, a newly constructed 101,374-square-foot Class A office/R&D campus in North San Jose, California. South Bay Development Company, a Silicon Valley-based commercial real estate development company which constructed the two-building campus completed in 2017, sold the property to a private investor. Both buildings were 100% leased at the time of sale. Eric Fox, Adam Lasoff, Seth Siegel, Steve Hermann, and Ryan Venezia of Cushman & Wakefield’s Northern California Capital Markets Group advised South Bay in the disposition. Nick Lazzarini and Kalil Jenab of Cushman & Wakefield’s Silicon Valley offices also provided local market advisory—the duo also negotiated the leases with the current tenants. “Orchard Corporate Center is a strong-performing, high quality asset fully leased to two long-term tech tenants and is surrounded by some of the world’s biggest and [...]

By |2019-03-05T16:34:52-04:00March 5th, 2019|In the News|0 Comments

Silicon Valley’s Office/R&D Sectors Report Significant Growth in Q3 combining for over 1.9 MSF Net Absorption

Office Market may be Headed for Record Year, while R&D Market Rebounds SAN JOSE, Calif., October 15, 2018 – Cushman & Wakefield’s newly released office and R&D market reports for the third quarter of 2018 showed strengthening occupancy growth, with both sectors combining for more than 1.9 million square feet (msf) of positive net absorption. The R&D market contributed over 1.3 msf of growth with the office market adding another nearly 600,000 sf in Q3. Under the strain of two quarters of lackluster performance, the R&D sector broke through in the third quarter with a surge in deal velocity, a stabilization in net absorption and increased rents. And in the office sector, after three standout quarters it seems apparent that 2018 will not only outperform 2017 but may rival the record-setting growth of 2015. Julie Leiker, Cushman & Wakefield’s Market Director for Silicon Valley, said, “Year-to-date office net absorption has [...]

By |2018-10-15T16:33:52-04:00October 15th, 2018|In the News|0 Comments