This Week’s San Francisco Deal Sheet (May 5, 2022)

The Deal Sheet is a weekly compilation of the San Francisco Bay Area’s biggest leases, sales, financing deals, construction updates and personnel moves. Have news you’d like to submit? Email joseph.gordon@bisnow.com.

The Sobrato Organization purchased a 40K SF property at 180 Townsend St. in San Francisco’s SoMa District for $71M.

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The office building was renovated recently with $20M in investment capital. DivcoWest sold the property, represented by CBRE Capital Markets’ Alec Haley, Kyle Kovac, Giancarlo Sangiacomo and Michael Taquino. The property is fully leased by Andreessen Horowitz through January 2031.

SALES

Terreno Realty Corp. acquired a 135K SF industrial property in Santa Clara for $54.6M, according to GlobeSt. The property is fully leased to four tenants with leases running through 2027.

LEASES

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Longfellow Real Estate Partners leased 45K SF in speculative lab space in its Palo Alto Labs campus, according to a press release from the company. The space was leased to three companies: Delfi Diagnostics, Gator Bio and Rarebase. Longfellow acquired the property in 2019.

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The former Sutter Health Hospital site in Presidio Heights is back on the market, following the dissolution of a deal between TMG Partners and Sutter Health to redevelop the property into a 250-unit multifamily community.

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Ripple, a cryptocurrency company based in the Bay Area, is relocating its headquarters from 315 Montgomery St. to 600 Battery St. The 315 Montgomery St. address is owned by Vornado Realty Trust. 600 Battery St. is owned by TMG Partners and Invesco.

CONSTRUCTION AND DEVELOPMENT

LBA Realty has filed new plans to bring more than 200K SF of manufacturing to North San JoseThe Real Deal reported. The company pitched the development on a site at the southwest corner of West Trimble Road and Orchard Parkway where it previously received approval to build a new hotel and 100K SF of commercial property.

THIS AND THAT

Real Estate Avenue has announced a partnership with Side, according to a press release. Side will support Real Estate Avenue with a brokerage platform while Real Estate Avenue will join the group of Side partners.

Article source: https://www.bisnow.com/san-francisco/news/deal-sheet/this-weeks-san-francisco-deal-sheet-112946

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