Except this parking lot, at Howard and First streets in San Francisco, is located in one of the hottest commercial real estate markets in the country.

Late last week, New York’s Tishman Speyer Properties closed escrow on the space, which, by the end of next year will be transformed into a 10-story, 286,000-square-foot office building serving “tech tenant demands and needs perfectly,” said Allen Palmer, managing director at Tishman Speyer’s San Francisco office, in an e-mail to Bay Area real estate brokers.

Two distinguishing aspects of the deal: It’s the first “spec development” (i.e. built from the ground up with no signed tenants) in the city since the onset of the recession in 2007, and no debt financing is involved. The land, architectural plans and construction costs – the latter estimated between $180 million and $185 million – is “funded with all equity,” said Palmer.

“Tishman has just turned on the light switch,” said Daniel Cressman, executive vice president at Grubb Ellis, suggesting that San Francisco’s tech-driven market, especially in the South of Market area, may see similar deals in the near future. (Grubb Ellis, which was recently acquired by New York’s BCG Partners, is not involved in the Tishman Speyer deal.)

In fact, Tishman Speyer cut an even bigger spec deal at 222 Second St., which is also a parking lot. Scheduled to begin construction next year and to be open for tenants in the fall of 2014, the “world-class” $100 million, 27-story, 452,000-square-foot high-rise is “purposely designed … to cater to the tech user, yet also appeal to the professional, traditional office space user,” said Palmer.

Partnering with Tishman Speyer in both deals is JPMorgan Chase Asset Management, which bought a majority stake in China Basin Landing in January for $415 million. Like Tishman Speyer, which owns 555 Mission St., another spec project, and Infinity Towers, the upscale condo complex on Spear Street, JPMorgan has identified South of Market as the place to be.

“The demand is relentless, especially for tech space,” said Michael Covarrubias, CEO of TMG Partners, which is putting the finishing touches on the retrofit of 1275 Market St., a 17-story office building across the road from Twitter’s soon-to-be-occupied new headquarters.

The space at Howard and First streets is part of the 1.2 million-square-foot Foundry Square development, originally designed for Sun Microsystems. Three architecturally similar 10-story buildings are occupied by Oracle, the law firm of Orrick, Herrington Sutcliffe and BlackRock, the global investment management company.

The fully leased BlackRock building reportedly has been sold for $240 million by another New York property company to the State Teachers Retirement System of Ohio. A second Foundry building, owned by Utah Retirement Systems and leased to Oracle, was put on the market in February, with a reported asking price in the $185 million range, “or just shy of an eye-popping $800 per square foot,” according to Real Estate Alert, an online newsletter.

“Our initial goal is to find one tenant” for the space at Howard and First streets, Palmer told potentially interested brokers. “But don’t let that goal get in your client’s way if they would like to pursue part of the building.”

Buyers’ market: If San Francisco real estate is a little too rich for your blood, how about Oakland? Home sales are up, especially in the condo market, and property developers are keen to show you their wares.

A number of developers and real estate firms, including Holliday Development and Uptown Place, are part of a monthlong business campaign called Passport Oakland, designed to entice folks to experience a city that has had some not-so-good press lately. Five “new home communities” are available for inspection, plus neighborhood tours. Barbecues, wine tasting, deals on meals and $100 gift-card prizes are among other incentives.

More information at passportoakland.com and on Facebook (Facebook.com/PassportOAK) and Twitter (#PassportOAK).

Andrew S. Ross is a San Francisco Chronicle columnist. Blogging at www.sfgate.com/columns/bottomline. Facebook page: sfg.ly/doACKM. Tweeting: @andrewsross. E-mail: bottomline@sfchronicle.com.

This article appeared on page D – 1 of the San Francisco Chronicle

Article source: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/04/09/BUET1O0RN2.DTL&type=tech

SACRAMENTO, Calif., March 28, 2012 /PRNewswire via COMTEX/ –
The River District, a Sacramento, non-profit business improvement association, has chosen PR/marketing communications firm, The Placemaking Group,
www.placemakinggroup.com , to create and implement an economic development program for the purpose of business attraction and retention.

“The River District is an integral part of the central city that has benefitted from a number of recently completed projects, and we want to be aggressive in marketing this success, ” said Patty Kleinknecht, executive director of The River District. “We selected The Placemaking Group because of its extensive expertise in branding and marketing to attract businesses and development to an area.”

The Placemaking Group, headquartered in the San Francisco Bay Area, has created and managed PR/marketing programs focused on business and visitor attraction for several California cities including Fairfield, Suisun City, Danville, Hercules, Carlsbad, downtown Napa, Atascadero, San Leandro and Castroville.

The program for The River District, which will be managed out of Placemaking Group’s Sacramento office, will involve a website update, publicity and social media program, collateral development, and outreach to commercial real estate brokers.

About The River District

The River District PBID covers approximately 850 acres immediately adjacent to the heart of Downtown Sacramento, stretching from the Sacramento River on the west, the American River on the north, Sutter’s Landing Regional Park on the east, and a varied border along North B and C Streets on the south. The area is currently transitioning from an industrial district to a diverse, urban mixed-use district. More information:

http://www.riverdistrict.net

About Placemaking Group

Placemaking Group, with offices in Oakland’s City Center and Sacramento, California is a full service PR/marketing communications agency providing integrated branding, public relations and website development services to help its clients effectively position themselves, communicate their messages, and inspire their audiences to take action.

Placemaking Group clients include the American Iron Steel Institute, McRoskey Mattress Company, HFS Consultants, Orinda Academy, The Renaissance School, Fairfield Tourism Association and the Micronesian island of Kosrae. For more information, go to
http://placemakinggroup.com , Twitter: @placemaking or call 510-835-7900, or in Sacramento, 916-448-2021.

SOURCE Placemaking Group LLC

Copyright (C) 2012 PR Newswire. All rights reserved

Article source: http://www.marketwatch.com/story/the-placemaking-groups-sacramento-office-adds-the-river-district-to-its-real-estate-and-economic-development-practice-2012-03-28

Tampa, FL (PRWEB) March 05, 2012

On March 14th at 8.30 am a pitch session for commercial real estate brokers and agents will take place at 715 Bird Street in Tampa.

Steven Silverman, the Broker at Tampa Commercial Real Estate is representing the seller in the sale of a building located at 715 Bird Street Tampa, FL. Tampa Commercial Real Estate is a commercial real estate brokerage firm based in Tampa, FL. Tampa Commercial Real Estate represents Buyers, Sellers, Landlords and Tenants in the sale or lease of commercial real estate in the Tampa Bay area

The four story building at 715 Bird Street was built in the 60’s and has excellent visibility from I-275. It is located at the exit ramp of I-275. The building has had many prior tenants including a bank, a church, offices and government departments. It has two passenger elevators and one freight elevator. The build-out includes a sanctuary on the first floor, offices, a bank vault, a commercial kitchen area, classrooms and even some apartments. While the building does need renovation, at the listed price of $1,600,000 it has substantial upside potential.This building can have multiple uses. It would be a worthy consideration for anybody seeking an office building in Tampa or an education or religious facility.

Cushman Wakefield has listed the adjacent 35 Acre properties owned by the Tampa Greyhound race track for $12 million. It is contemplated that this will be a major development site.

Tampa Commercial Real Estate and Cushman Wakefield are cooperating to jointly host the brokers breakfast pitch session which will showcase both properties to other brokers and commercial real estate agents in the Tampa market. The marketing session is conducted under the umbrella of FGCAR, the Florida Gulf Coast Commercial Assoc of Realtors. The leading brokers in the Tampa Bay commercial real estate community belong to FGCAR. FGCAR pitch sessions such as these are just one way in which broker members enhance exposure and increase value for their clients. At the pitch session a light breakfast will be served and Brokers will have the opportunity to stand up to share market information and pitch their “Wants” and “Listings” to the assembled brokers. After the pitch, those Brokers that are interested will be taken on a tour of the host properties

A property brochure describes property offering and Tampa Commercial Real Estate can be contacted for a site visit or for additional information. Steven Silverman the Broker at Tampa Commercial Real Estate is representing the Seller of 715 Bird Street. Steven is on the Board of the Florida Gulf Coast Commercial Assoc of Realtors and is also on the board of the Florida CCIM Chapter (Certified Commercial Investment Member)

About Tampa Commercial Real Estate: Tampa Commercial Real Estate is a commercial brokerage firm based in Tampa FL that assists Buyers. Sellers and Tenants in the Acquisition, Disposal and Leasing of Tampa Bay Commercial Real Estate and Florida commercial real estate

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For the original version on PRWeb visit: http://www.prweb.com/releases/prwebOfficeBuildingTampa/TampaCommercialRealEstate/prweb9245259.htm

Article source: http://www.timesunion.com/business/press-releases/article/Tampa-Commercial-Real-Estate-To-Feature-60-000-sf-3384358.php

SAN FRANCISCO, CA – February 24, 2012 – (RealEstateRama) — Real Estate Mortgage Network, Inc. (REMN), one of the largest, privately held non-bank lenders in the US, is pleased to announce the opening of a new retail location in Pleasanton, CA. This new REMN location will be staffed by a team of veteran mortgage professionals dedicated to providing local home buyers, home owners and real estate professionals with the customer service driven, quality experience REMN has become known for nationwide.

Jackie James will be joining REMN in Pleasanton as the office’s first Branch Manager. An experienced mortgage professional, James was raised in nearby Fremont and has nearly 30 years of experience in the lending industry. She has won multiple industry awards, is a member of both the Women’s Council of Realtors and the Bay East Association of Realtors. Active in the community, James was recently a member of the board of directors for the Valley Humane Society and currently volunteers with other local organizations.

James will be joined by two other veterans of the local real estate lending community,
Carlyse Ford and Duane Lendahl. Both accomplished Mortgage Loan Originators, Ford and Lendahl bring more than 50 years of combined lending industry experience to REMN’s first office in the San Francisco area.

“Pleasanton is a vibrant community and not too long ago, was named one of the best places to live by CNNMoney.com. Simply put, it’s a great place to live. Regardless of if someone is buying a new home in the area, looking to refinance or interested in a 203(k) style loan to turn a fixer-upper into their Pleasanton dream home, the all-stars we have in this office are here to help,” commented REMN’s Regional Vice President, Cathy Stroud.

REMN’s Pleasanton office is located at 4900 Hopyard Road, Suite 100
Pleasanton, CA 94588. Home buyers and real estate brokers interested in scheduling an appointment to speak with REMN associates in the Pleasanton office can reach out to them online via http://www.remn.com.

As a whole, REMN combines the services of consumer facing retail branches with those of a large-scale wholesale brokerage and online channels. REMN currently has more than 40 retail offices licensed to originate loans across the continental US, in addition to their online consumer direct division, which is doing business as FinanceMyHome.com. The company employs more than 600 people throughout offices in California, Colorado, Connecticut, Delaware, Florida, Georgia, Maryland, Missouri, New Jersey, New York, North Carolina, Pennsylvania, South Carolina Tennessee and Vermont. In 2011 alone, REMN closed more than $2.3 billion in home loans, solidifying its position as one of the largest independent non-bank lenders in the U.S.

About Real Estate Mortgage Network, Inc.
Founded in 1989 and headquartered in River Edge, NJ, Real Estate Mortgage Network, Inc. serves the lending needs of home buyers and home owners, real estate professionals and builders across the country. Our associates are passionate about fulfilling the American Dream, and realize they are the key to unlocking the mortgage process. REMN’s Web site is located at www.remn.com.

Tagged as: Bay Area Housing, Bay Area Real Estate, lending, Mortgage, Northern California Mortgage, Pleasanton Housing, REMN

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Article source: http://california.realestaterama.com/2012/02/24/real-estate-mortgage-network-inc-opens-first-bay-area-location-in-pleasanton-california-ID01742.html

Andrew Arild, Investment Broker and Short Sale Director at Pertria says of the affiliation with Mr.Ross: “Mortgage lending is now one of the number one concerns for buyers and sellers alike. Pertria needed a veteran loan officer with access to direct lending. Dan Ross and Wells Fargo Private Mortgage Banking provide the experience and access to underwriting backed by a wide array of products not available through conventional retail channels.”

Having Mr. Ross’ experience in mortgage lending on site at Pertria is a welcome compliment and will further enhance their ability to provide well-rounded real estate and financial services to their clients.

In 2004 Pastorino founded Pertria, a firm representing residential and commercial real estate sales, investment analysis and property management strategically aligned with like- minded financial professionals including certified financial planners, tax advisors, insurance specialists and specialized legal counsel collectively providing clients with well-grounded strategies focused on maximizing opportunities and mitigating risk.

Firm Facts: Licensed real estate brokers who have passed the Series 65 exam; Experienced in charitable remainder trusts; IRC 121, REO and short sales; divorce; probate and relocation; reverse exchanges, and IRC 1031-1033; Real property management portfolio exceeds $202 million in value; Real property management portfolio rent revenues of $9.2 million annually; Integration of technology providing increased capacity to efficiently process client; financial reporting and resident management; Establishment of rigorous 26 week Real Estate Investment Advisory education course featuring speakers from disciplines ranging from Legal Counsel, Financial Services, Insurance, Commercial, Exchange Coordinators, TIC, Trusts, IRA.

For more information on Pertria and Helen Pastorino, please visit www.pertria.com

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Article source: http://www.pr.com/press-release/352581

I’ve recently learned that real estate brokers in San Francisco have reached a consensus on a topic that entrepreneurs and investors can’t seem to agree on: that we are in the midst of a technology bubble.

Technologists have been debating the existence of such a bubble for over a year now, but they just can’t seem to agree. Some argue that companies like Twitter, Facebook and LinkedIn, are overvalued with multi-billion dollar valuations. Others say that technology companies are actually undervalued.

Real estate brokers in San Francisco have seen the evidence of a new dot-com style bubble: Rents are shooting up as the demand for apartments grows. As a newcomer to San Francisco, I can attest to how frantic the search for apartments has become in the area, and to the often audacious pricing of rental properties.

An article published on Thursday in The San Francisco Examiner notes that Bay Area renters are now seeing rent hikes that are eerily similar to those during the dot-com bubble that occurred a little more than a decade ago. RealFacts, a real estate analysis firm, told the Examiner that a new wave of San Francisco residents who work for technology giants and start-ups seemed to be responsible for the rise in apartment rental costs.

“I think a lot of new dot-com employees, specifically those who work for companies like Apple, Google and Twitter, are now moving into the city and can afford to pay much higher rents,” said Sally Kuchar, editor of the real estate blog Curbed San Francisco, told me in a phone interview. ”As a result, San Francisco rental rates have risen by 6 percent between 2010 and 2011.”

As a very recent transplant to San Francisco, I’ve visited dozens of open houses over the past week and already see a frightful pattern. When I show up to see a property there is always a long line of young people, mostly wearing t-shirts adorned with Twitter, Facebook or Google logos, who are standing at the ready with an application, credit report and deposit check in hand. They often bid up the price of an apartment by several hundred dollars too.

Real estate brokers I’ve spoken with note that although the San Francisco market has always been challenging for renters, the current state of affairs is extraordinary.

Ms. Kuchar of Curbed said rents were also rising because more landlords were choosing to turn their properties into short-term rentals using services like AirBnB, a company that lets people rent out their spare bedrooms or homes to travelers.

“A lot of residential property owners are now converting their long-term rentals into vacation rentals; that has also depleted the market,” Ms. Kuchar said. She also said that though high real estate prices make it clear there is a new bubble in Silicon Valley, no one can really predict how long it will take before it pops.

Article source: http://bits.blogs.nytimes.com/2011/08/05/tech-and-the-san-francisco-rental-bubble/