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Kilroy Realty’s 360 Third Street Goes Gold

Fri, 20 Sep 2013 07:50:05 +0000

Kilroy Realty’s 360 Third Street Goes Gold

Newly Transformed SOMA Office Building Achieves LEED Gold Certification

SAN FRANCISCO–(BUSINESS WIRE)– Less than two years after acquiring the 40-year-old, 410,000 square-foot office building at 360 Third Street, Kilroy Realty Corporation (NYS: KRC) has successfully transformed the property into a contemporary office and studio space for the media and technology tenants that now dominate SOMA’s real estate landscape. Last week, the redeveloped property—now 85% leased—was awarded LEED Gold certification.

“From the beginning, our goal was to deliver a top quality, top performing work environment with all the amenities sought after by creative and innovation-driven companies flooding into the SOMA area,” said John Kilroy, Jr., KRC’s chairman, president and CEO. “Not only did we achieve this but I think we’ve successfully converted this former Pacific Bell call center into a ‘hip and cool’ new digital, media and technology powerhouse.”

Today, 360 Third Street features San Francisco’s largest roof deck with views of the Bay Bridge, ATT Ball Park and the San Francisco Bay including a rooftop bar, integrated lighting and sound systems, fire pits and extensive landscaping. Elevator systems were modernized and extended to the roof deck, building infrastructure was updated to support densification and the lobby and floor plans were redesigned into contemporary, collaborative layouts. A new irrigation system was installed that reduces landscaping water usage by 50%, and a new measurement and verification system was added to the building that allows individual tenants to monitor and manage energy consumption. Bicycle storage and showers were also incorporated into the new design as part of the amenity package that tenants seek in today’s modern office campuses.

“We were able to create a new vibe in the building—taking it from un-inspired shell office space and conventional common areas to more vibrant and productive technology and media space with inviting public areas that include indoor and outdoor ‘great’ rooms and modern amenities. Achieving LEED Gold certification serves as a testament to the successful transformation of the project by our team,” said Mike Sanford, KRC’s Senior Vice President, Northern California.

KRC acquired 360 Third Street in late 2011 when the building was 9% occupied by media conglomerate, ComCast SportsNet who uses the space to broadcast its CSN Bay Area programs. Building off Comcast’s studio, 360 Third Street was able to attract Pac-12 Enterprises, who signed an 11-year lease almost immediately after KRC closed on the acquisition. The multi-floor lease agreement with PAC-12 Enterprises included the creation of a state-of-the-art studio for PAC-12′s broadcasting arm. In addition to ComCast SportsNet and PAC-12 Enterprises, the roster of tenants at 360 Third Street currently includes KNTV, AKQA, Square Trade, Flurry, Real Page and Clinkle.

About Kilroy Realty Corporation
. Kilroy Realty Corporation, a member of the SP MidCap 400 Index, is a real estate investment trust active in major West Coast office markets. For over 65 years, the company has owned, developed, acquired and managed real estate assets primarily in the coastal regions of Los Angeles, Orange County, San Diego, the San Francisco Bay Area and greater Seattle. At June 30, 2013, the company owned 13.5 million rentable square feet of commercial office space. More information is available at http://www.kilroyrealty.com.

Kilroy Realty
Mike L. Sanford
Senior Vice President, Northern California
(415) 778-5678 office
(650) 888-2228 cell
or
Caitlin Kilroy
Marketing and Leasing Associate
(415) 778-5670 office

KEYWORDS: United States North America California

INDUSTRY KEYWORDS:

Article source: http://www.dailyfinance.com/2013/09/19/kilroy-realtys-360-third-street-goes-gold/

Home prices slowing elsewhere, still spiking in Bay Area

Sun, 01 Sep 2013 12:28:29 +0000

The Golden Gate Bridge is seen in the view from a 15,000-square-foot custom built home on Belvedere Island in Marin County, California, U.S., in Dec. 2012. The builder couldn’t find a buyer for the brand-new waterfront mansion he listed in January for $45 million. He hoped one will turn up at an auction, where the starting bid was $25 million. Photographer: David Paul Morris/Bloomberg

Blanca Torres
Reporter- San Francisco Business Times

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Home prices across the country show signs of stabilizing — except in the Bay Area where we continued to see big price spikes. Why do we always have to play the role of outlier?

Signs of stabilization depend on increases in median home price, numbers of new listings and the average number of days for-sale homes stay on the market.

In the Bay Area, our inventory of new listings increased by only 3 percent to 8,006 homes in July 2013 compared with the same month last year, while our median home price soared by 40 percent to $610,000 in July, up from $436,000 the prior year, according to Emeryville-based ZipRealty.

At the same time, nationally, inventory levels grew by an average of 12 percent and median home prices beefed up by 15.8 percent — a lot more moderate than our 40 percent hike.

Van Davis, ZipRealty’s president of brokerage operations, called the growth in the U.S. real estate market, “one of moderation with underlying strength.”

“The increase in listings coupled with moderating price growth and sales volumes provide significant evidence that the real estate market is beginning to become more balanced,” Davis said.

More inventory on the market keeps prices from ballooning, but clearly that isn’t happening in the Bay Area.

In fact, our total inventory of available homes dropped by 21 percent to 8,275 in July 2013, compared with 10,466 in July 2012.

Places where new listings are climbing at impressive rates include Denver with 34 percent growth, Portland, Ore. with 24 percent, Orange County with 22 percent and Seattle and San Diego both with 21 percent.

“Several metros on the West Coast, which have had the greatest supply imbalances, are now seeing the biggest increases in listings,” Davis said. Did you notice San Francisco is a glaring omission on that list?

Blanca Torres covers East Bay real estate for the San Francisco Business Times.

Article source: http://www.bizjournals.com/sanfrancisco/blog/real-estate/2013/08/housing-market-stabilizing-everywhere.html

Case-Shiller: San Francisco Home Prices Rose Again in March, Climbing 22 …

Sun, 16 Jun 2013 19:33:17 +0000

Home News Case-Shiller: San Francisco Home Prices Rose Again in March, Climbing 22% YOY

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By Brandon Cornett | Housing Market News
June 14, 2013 | © 2013, All rights reserved

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Mortgage shopping?

The housing market in San Francisco continues to be a standout, where prices are concerned. According to the latest release of the SP/Case-Shiller Home Price Index, house values in San Francisco rose 3.9% from February to March of this year. Prices have risen by a whopping 22% annually, when measured from March 2012 to March 2013. There is a two-month reporting lag with the Case-Shiller index, which is published on the last Tuesday of every month.

The chart below shows the 20 cities that make up the Case-Shiller 20-city composite. As you can see, the San Francisco real estate market experienced the second-largest annual gain in home prices, slightly behind Phoenix, Ariz.

San Francisco had the largest monthly gain of any metro in the 20-city index, and one of the largest monthly returns in the country. According to the Case-Shiller index, San Francisco property prices rose by 3.9% from February to March.

The Bay Area real estate market continues to rise a wave of recovery that has spread across the entire state. In the chart above, you’ll also notice strong annual returns for San Diego and Los Angeles. These returns are indicative of the positive housing trends throughout California.

In San Francisco’s real estate market, as in other metros across the Sunshine State, housing inventories have plummeted. According to Realtor.com’s monthly housing summary, the total number of homes listed for sale in San Francisco has dropped by 31.22% over the last year. This trend is being seen in other California cities as well, and often to a larger degree. Listing inventory is down 52% in Orange County, 46% in Oakland, and 45% in San Jose.

These are unprecedented statistics. Imagine half of a local real estate market disappearing in a single year. It’s no wonder home buyers are having trouble finding properties in these markets. The supply-and-demand picture has shifted considerably over the last couple of years, and it’s sending prices north. In short, more buyers are vying for fewer properties.

The median list price within the San Francisco housing market has climbed by more than 20% over the last year, according to Realtor.com.

According to DataQuick, a San Diego-based company that provides real estate market data, the median sale price in the nine-county Bay Area reached $519,000 in May. That was an increase of 1.8% from the previous month and 29.8% from the same time last year. The median for San Francisco County climbed to $870,000 last month — the highest of any county in the Bay Area.

Within the city proper, the median sale price is a cool million. According to the real estate firm Redfin, sellers within the city are getting 112% of their asking prices, on average. Clearly, it’s a good time to be selling a home within the San Francisco real estate market.

Home sales have slowed over the last year. In May 2012, a total of 8,899 sales were recorded across the Bay Area. Last month, 8,541 sales were recorded, 4% fewer than the same time last year. In San Francisco County, home sales have declined by 14% over the last year. But this is certainly not due to a lack of demand. It’s from a lack of inventory. If every buyer who wanted to buy a home in the Bay Area could actually find one, sales would probably be 20% to 30% higher this year.

Filed under Housing Market News

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Article source: http://www.homebuyinginstitute.com/news/case-shiller-san-francisco-409/

Top cities to buy bargain fixer-uppers don’t include San Francisco

Mon, 10 Jun 2013 19:09:48 +0000

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San Francisco doesn’t offer the best area for people hoping to buy bargain fixer-upper homes, probably because even fixers sell for a fortune in the Bay Area, and not many properties end up foreclosed or otherwise abandoned to decay much anyway, given the value of property in general. So, even among our few homes for sale needing “TLC,” we don’t find many “bargains.” The properties above show that.

Among the currently MLS listed homes for sale in San Francisco proper, only 16 came up under a parameter search for “fixer-upper,” and zero came up when the term “foreclosure” was also added. RealtyTrac maps SF’s pre-foreclosures (we’ve got 180 shown in purple below), bank owned (we have 185 marked in gold below), and for auction properties (we’ve got 41, marked in red below). This section of the map shows you a portion of the RealtyTrac heat map.

A portion of RealtyTrac’s heat map for distressed property in SF.

Slim pickings, really, in a city with a lot more potential homebuyers than potential homes for sale. The city’s inventory in May was down 24.5% year-over-year.

Best cities for fixer-upper bargains

RealtyTrac, prolific provider of U.S. real estate data with a particular focus on foreclosure-related activity, analyzed national data to find the 15 best markets for buying fixers at discount prices. The figures show the number of foreclosed homes old enough to potentially be candidates for makeovers that are also valued at $100K or less– a sure sign, in more robust markets– of a bargain. Also analyzed here: the average market value of a distressed home as well as the change in the median sales price of such properties in each location year-over-year.

“Low-priced homes are still plentiful in many markets, particularly in the form of foreclosures,” said Daren Blomquist, RealtyTrac vice president. “While these homes may be in need of more work than a typical home and are certainly harder to find now than in previous years, buyers and investors willing to put in a little extra legwork and sweat equity can often find the best deals in their markets on these foreclosure fixer-uppers.”

RealtyTrac analysis found that nationwide , there are more than 51,000 potential foreclosure fixer-uppers: bank-owned homes that were built before 1960 with an estimated market value below $100K.

Meanwhile, back in SF

As usually happens when we compare other parts of the country to San Francisco, our home prices stand out in sharp relief. For less than you’d need for a downpayment on a fixer here, you could buy an entire home outright somewhere else. So if your reason for wanting a fixer-upper is bargain price (though of course, “bargain” is a relative term), you might want to look elsewhere.

Anna Marie Erwert writes from both the renter and new buyer perspective, having (finally) achieved both statuses. She focuses on national real estate trends, specializing in the San Francisco Bay Area and Pacific Northwest, and writes for SFGate and CurbedSF. Follow Anna on Twitter: @AnnaMarieErwert

Article source: http://blog.sfgate.com/ontheblock/2013/06/10/top-cities-to-buy-bargain-fixer-uppers-dont-include-san-francisco/

Top 10 cities for dogs

Fri, 17 May 2013 16:11:06 +0000

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Methodology

Estately measured the quality of dog living in each metropolis with a little science, a little meteorology, and some basic canine love. “We scoured the country, factoring in weather, Walk Score, yard size, dog activities, Meetup groups, and the availability of dog sitters onRover.com. After a lot of debate we settled on these 17 urban dog paradises.”

More on the top 10 picks

1. Portland, OR

The Rose City boasts 33 dog parks, “the most per capita of any large city in the United States.” Dogs can also enjoy 19 pet massage therapists while owners enjoy a personal social network for dog lovers. Together they can drink and dine at Tin Shed Garden Café(with a dog and person menu) the Kibbles-N-Bits breakfast at Lucky Labrador Brew Pub or dog snack plate at the Pied Cow. And, according to Estately’s real estate listings, the average lot size is a spacious 8,283 square feet. Plenty of room for yards and bounding four legged family members.

2. San Diego

Sunny days in the surf: what dog wouldn’t be in heaven? This city also offers and dining on dog-friendly patios. San Diego also hosts the National Dog Party Day, the Surf Dog Surf-A-Thon and “is moving to ban the sale of pets bred in commercial breeding facilities.

3. Seattle, WA

In a tribute to fairness, Estately (based in Seattle) puts the Emerald City in 3rd place. Yes, it rains a lot, but like SF, Seattle still hosts more dogs than children in its limits. And, “unlike in many other cities, dogs are welcome on Seattle’s bus lines, ferries, light rail, and even local seaplanes.” Owners and pets alike enjoy 32 different Meetup groups for dog lovers, as well as dog-friendly businesses like BARK! espresso, and Scraps Dog Bakery.

4. Austin, TX

For the dog who loves good food like Bow-Wow Chow, a food truck specifically for dogs, and discovering bands at South by Southwest, Austin offers 11 dog parks, lots of water for cavorting, pet boutiques, health food stores for Fido, and more than 35 pet photographers. “Austin is home to Kramer the Austin Famous Rock Dog, the Easter Pet Parade Costume Contest, the Austin Dog Fair, and many more dog celebrations.

5. San Francisco, CA

San Francisco has 27 dog parks, the third most of any city in the U.S. with 27, and Walk Score has it ranked second nationally for walkability for ambling with your pet. Perhaps the destination is the beach, or a dog-friendly bar like The Stray Bar, a restaurant with welcoming patio, or one of our dog-friendly gyms .

6. Albuquerque, NM

Albuquerque boasts 33,000 acres of public parks, “about a 1/4 acre for every dog, cat and bird!” Not a lot of rain here, so plenty of chances be outdoors too.The Mayor’s Dog Ball is held annually to raise money in support of a spaying and neutering program.

7. Tucson, AZ

Sunny up to 350 days of the year, this city rarely rains out dog walks. Tucson offers lots of doggy patios for drinks and chow together, and hosts an annual Pitbulooza in honor of National Pit Bull Awareness Day. Part of the city’s tourism propaganda includes this tidbit: “The pampered pooch can even enjoy a spa treatment or shopping spree at one of numerous pet boutiques.”

8. Boston, MA

Despite having few off-leash dog parks, Boston is a leafy green city on a river and harbor, so lots of doggy fun can be had. “Boston is home to the first subway built in America and dogs are allowed to ride it during off-peak hours. Additionally, there are cruises of Boston Harbor that include time for dogs to play pirate and explore an uninhabited island.” Owners and pets alike enjoy the Liberty Hotel hosts a weekly “Yappier Hour,” a happy hour with food and drinks for both people and their four-legged friends.”

According to this Block Avenue article, Boston neighborhoods with high numbers of pet dogs can be a sign of high home ownership.

9. Phoenix, AZ

Phoenix is home to many retirees with time to spend with their canine companions. According to Estately’s real estate listings, the average lot size is a spacious 8,977 square feet (plenty of room for pets) and this is warm, dry climate for dig life outdoors as well. Cool side note: The Arizona Diamondbacks let you to take your dog out to the ballgame with their annual Bark in the Park event.

10. Minneapolis, MN

Minneapolis is a pooch-positive culture, with dog-friendly restaurants, parks and hiking trails.” The downside is harsh winters can leave dogs trapped inside for long stretches, but when the sun is out there are fun activities like the Canine Carnival, various breed-specific Meetups, and Beer With Your Buddy—the opportunity to drink a brew at the pub while your four-legged pal socializes.”

Article source: http://blog.sfgate.com/ontheblock/2013/05/17/top-10-cities-for-dogs/

San Francisco Housing Bubble May Be Brewing, Says New Report

Sat, 04 May 2013 20:14:55 +0000

SAN FRANCISCO — As anyone who even thought about buying a home in San Francisco in the past few years can readily attest, the city’s real estate market is both insanely expensive and insanely competitive.

And if a recent analysis by real estate brokerage Redfin is any indication, the city may be in the midst of a burgeoning housing bubble.

Redfin’s study looked at home sales in major cities across the country and found San Francisco to be among a handful of metro areas where the median home price-to-household income ratio is high enough to suggest the formation of a real estate bubble. Other factors, including rapid growth in prices, low levels of available properties and houses regularly selling within a week of first being placed on the market, also pointed to a similar conclusion.

“A lot of people [in San Francisco] are really frustrated that they can’t buy a home in the city because it’s so expensive,” explained Redfin CEO Glenn Kelman.

Over the first three months of the 2013, the median home sale price in San Francisco was $771,750. The median annual household income is currently $72,947. The former number is rising much faster than the latter, indicating that the price of housing in the city has increasingly less to do with what the average home buyer can actually pay.

The meager supply of available housing in San Francisco further exacerbates the problem.

“Some properties are receiving in upward of 40 to 60 offers and selling in 24 hours or less,” said Bay Area Redfin agent Charmaine Frank, who noted that on a number of occasions, every single Redfin agent in San Francisco represented a different potential buyer for a single property.

“The normal laws of economics don’t apply to the Bay Area,” added Kelman. “You could have huge unemployment numbers here and home prices would still go up because [the supply is so constrained and] there are enough people with limitless amounts of money who want to live there.”

As a result, it’s becoming increasingly difficult for anyone but the wealthy to afford a house in San Francisco. Last year, real estate blog Movoto urged prospective house hunters to cool their jets until the bubble bursts.

“Unless you happen to be a billionaire, you should probably steer clear of shopping for a new home in the city,” Movato writer Kristin Crosier advised. “Even then it would be an unfortunate way to spend your piles of money.”

In a typical real estate bubble, individuals put all their money into buying property on the assumption that they can later sell it for a profit. But market forces cause home values to eventually decrease. When that happens on a massive scale, the bubble pops, a large amount of money suddenly evaporates, and a trail of economic destruction ensues.

Deterred by skyrocketing home prices, many San Franciscans have opted to navigate the city’s mind-bogglingly expensive rental market on the assumption that renting will be cheaper. However, according to a recent investigation by real estate site Trulia, buying a home is still cheaper than renting in every major American city, San Francisco included.

This rapid growth in home sale prices isn’t limited to San Francisco’s city limits. Over the past year, the median sale price of homes in the whole San Francisco Bay Area jumped by nearly 40 percent — the biggest spike of any metro region in the country. Over that same time period, the number of new listings decreased by eight percent.

In fact, overheated housing markets have popped up all along the California coastline. After Washington, D.C., which the Redfin study ranked as having the biggest housing bubble in the nation, the next three cities — Los Angeles, San Diego and San Francisco — were all in California

“California is hot because that’s where so many people want to live,” Frank said. “There are long-term demographic patterns driving people into California.”

Related on HuffPost:

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Sacramento, Calif.

Year Over Year Increase: 42.57 percent

Median Home Listing Price: $285,000

Total # Of Listings: 2,962
Santa Barbara/Santa Maria/Lompoc, Calif.

Year Over Year Increase: 35.72 percent

Median Home Listing Price: $699,000

Total # Of Listings: 1,195
San Francisco, Calif.

Year Over Year Increase: 25.04 percent

Median Home Listing Price: $749,000

Total # Of Listings: 2,292
San Jose, Calif.

Year Over Year Increase: 23.53 percent

Median Home Listing Price: $562,000

Total # Of Listings: 2,035
Phoenix, Ariz.

Year Over Year Increase: 21.21 percent

Median Home Listing Price: $200,000

Total # Of Listings: 15,114
Atlanta, Ga.

Year Over Year Increase: 19.93 percent

Median Home Listing Price: $179,000

Total # Of Listings: 32,530
Oakland, Calif.

Year Over Year Increase: 17.22 percent

Median Home Listing Price: $375,000

Total # Of Listings: 1,911
Seattle/Bellevue/Everett, Wash.

Year Over Year Increase: 16.66 percent

Median Home Listing Price: $349,950

Total # Of Listings: 4,381
Fresno, Calif.

Year Over Year Increase: 16.28 percent

Median Home Listing Price: $184,900

Total # Of Listings: 1,949
Riverside, Calif.

Year Over Year Increase: 15.65 percent

Median Home Listing Price: $229,000

Total # Of Listings: 14,909

Article source: http://www.huffingtonpost.com/2013/04/16/san-francisco-housing-bubble_n_3088591.html

How Crazed Is the Bay Area’s Real Estate Market? (Video)

Wed, 24 Apr 2013 23:19:18 +0000

April 22 (Bloomberg) — Redfin CEO Glenn Kelman discusses the madness in Bay Area real estate with Emily Chang on Bloomberg Television’s “Bloomberg West.” (Source: Bloomberg)

The recent tech boom in the Bay Area has also meant a boom in the real estate market, with a mad dash to buy homes.

Bloomberg TV talks with Redfin CEO about the area’s real estate market.

Article source: http://www.bizjournals.com/sanfrancisco/morning_call/2013/04/how-crazed-is-the-bay-areas-real.html

Dealing in Multiples

Fri, 05 Apr 2013 08:24:40 +0000

By Mark Penn

I remember learning in high school science class that equilibrium is a state of “no force or disturbance in any one direction.” Applying this concept to real estate, one might say that a balanced market – one with “equilibrium” – would have roughly the same number of buyers as it would properties for sale.

Not that many months ago, many parts of the Bay Area’s real estate market were saturated with properties for sale. It was, in many areas, a buyer’s market – buyers had their way when it came to selecting from a wide range of properties in nearly every corner of every market. But now, as the economy has been coming back, and real estate along with it, the pendulum has swung and we have shot past that real estate equilibrium point in a nanosecond.

Today we have many more buyers than we have properties for sale. (Potential sellers, take note! It hasn’t been this good for sellers in a long time – but that’s fodder for another article.) Our market has gone from having too many properties on the market to not having nearly enough.

The “inventory” of properties for sale has suddenly become so slim that the supply is now far below the demand almost everywhere. The average time a property spends on the market has decreased by 40% over a year ago. That makes life for hopeful real estate buyers really tough.

If you’re a buyer right now, you are probably in competition now for almost every property, and although your agent might tell you that you are a SPECIAL buyer (and I’m sure you ARE), it’s more than likely that every other buyer out there is just as special. And it’s just as likely that all of those special buyers are competing for the same property, creating a “multiple offer” situation.

What’s a buyer to do? For starters, be honest with yourselves about your expectations. Expect there to be multiple buyers for the same property and talk to your agent about what will make your offer stand out. Understand also that an offer is not just about price. There are lots of other factors in a purchase contract that might appeal to a seller as well. Things like length of escrow, minimal contingencies, and even who you choose as your mortgage company can make a seller happy or have them quickly flipping to the next buyer in their stack of offers.

In some areas as recent as a few months ago, it was possible to ask for seller concessions and give-backs, but we are now in a time where those factors will send your offer to the circular file faster than almost anything else.

Work with your agent as any effective team would work together. Be sure that your agent knows your situation and your personality so that he/she can tailor their approach to each property that you choose to purchase. Be honest and open with them, and don’t be afraid of what he or she will think. Ask your agent how you can best work together, and understand that while you really can’t do this by yourself, no agent is “Super(wo)man” and none of us bat 1000 in multiple offer situations.

Lastly, be patient. It will probably take a while, and very possibly more than a few offers before you win in a multiple situation. But keep trying, and listen to your agent. We do this every day. And yes, you ARE special.

A Bay Area native, Mark Penn has been a REALTOR® with Coldwell Banker since 2004. He is also active in animal welfare, and is a former educator, facilitator, and air traffic controller. Mark can be reached at mark@MyHomeInSonoma.com

Article source: http://www.sfbaytimes.com/?sec=article&article_id=17489

Loja Real Estate Sells Downtown Pleasant Hill Shopping Center, Pleasant Hill, CA

Tue, 12 Mar 2013 21:42:44 +0000

WALNUT CREEK, CA–(Marketwire – Mar 12, 2013) – Tom Engberg, CEO of Loja Real Estate, LLC, announced today the sale of Downtown Pleasant Hill Shopping Center in Pleasant Hill, CA to an account advised by the US real estate business of UBS Global Asset Management for approximately $100 million. The transaction closed on March 8^th. Loja Real Estate, LLC is a wholly-owned subsidiary of Loja Group LLC, a real estate investment management firm.

“We are delighted that UBS is involved with this asset,” said Tom Engberg, Chief Executive Officer of Loja Real Estate. “They understand the value of this property as a community asset for the town of Pleasant Hill. We believe they will carry on with the program of improvements we instituted here,” he said.

Downtown Pleasant Hill is a 345,687 sq. ft. shopping center with prime retail space located in the affluent community of Pleasant Hill in the San Francisco Bay Area, CA. Downtown Pleasant Hill is the central business district for the town with 40 brand name retailers, including Century Theaters, Lucky Supermarket, Bed Bath Beyond, Michaels, Ross, Golfsmith, Paul Mitchell the School, Carter’s, and Zachary’s Chicago Pizza.

“Loja’s real estate team is to be commended for adding value to an already strong property. It has been a real pleasure to own Downtown Pleasant Hill and it would be a great property to retain in our portfolio. We felt, however, that this was an opportune time to sell and advance other important initiatives at Loja,” said Katherine Burr, CEO of Loja Group LLC.

Loja was represented in the sale by Kevin Van Voorhis, James Kaye, Jay Gomez and Lindsey Lantis of Colliers International.

About UBS Global Asset Management

With over 35 years of real estate investment advisory experience, the US real estate business of UBS Global Asset Management has approximately $20.2 billion under management on behalf of over 450 clients. A multi disciplined real estate organization with staff of approximately 176, it is headquartered in Hartford, Connecticut with regional offices in San Francisco and Dallas. In addition to its US real estate business, UBS Global Asset Management, Global Real Estate manages investments in Europe, Asia and Australia, totaling approximately $65 billion in real estate and real estate securities worldwide. In the US it operates through its legal entities, UBS Realty Investors LLC and UBS AgriVest LLC, registered investment advisors. www.ubs.com/realestate

About Loja Group LLC/Loja Real Estate, LLC

Loja Group LLC is a real estate investment management firm with $190 million in assets under management. Through Loja Real Estate, LLC, a wholly-owned subsidiary, Loja acquires and manages grocery-anchored real estate assets throughout the United States for institutional clients. Additional information about Loja may be found at www.lojagroup.com.

Article source: http://www.marketwire.com/press-release/loja-real-estate-sells-downtown-pleasant-hill-shopping-center-pleasant-hill-ca-1767228.htm

San Francisco’s real estate boom puts a damper on nonprofits

Wed, 27 Feb 2013 07:05:07 +0000

Renée Frojo
Reporter- San Francisco Business Times

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While I’d rather not put a negative spin on San Francisco’s gangbusters economy, it’s hard to ignore the fact that it’s putting pressure on nonprofits to either pay up, get creative or get out.

As I wrote in this week’s paper, rising rents are pushing nonprofits out of the city and into the East Bay in search of affordable space. But what about local nonprofits that need a San Francisco address? How are they facing skyrocketing rents and landlords that refuse to renew their lease in hopes of attracting higher-paying tenants?

Well, “it’s really nuanced,” said Leiasa Beckham, a real estate consultant with the Northern California Community Loan Fund, in trying to explain the kinds of solutions that nonprofits in the city are coming up with to find more stable, affordable rent.

According to Beckham, some nonprofits with enough funds are looking into buying their own space. But because these projects are currently undergoing complex lease negotiations, she wouldn’t specify who is doing what.

Other scrappy nonprofits, she said, are looking for shared space concepts, co-locating to buildings with reasonable rents or renting spaces from other nonprofits in shared-space buildings — a model that has been used by nonprofits for some time.

But as rents continue to rise and real estate throughout the city — including the historically affordable areas of town — becomes increasingly desirable, even shared office spaces have become harder to find and develop.

“The real estate market is really prohibitive to centers expanding or replicating here,” Katie Edwards of Tide’s Nonprofit Centers Network, a peer learning community for nonprofits that share space, told me.

Renée Frojo covers hospitality, restaurants, retail and nonprofits for the San Francisco Business Times.

Article source: http://www.bizjournals.com/sanfrancisco/blog/2013/02/san-franciscos-prosperity-puts-a.html

homesmillbrae.com » S Real Estate

Kilroy Realty’s 360 Third Street Goes Gold

Home prices slowing elsewhere, still spiking in Bay Area

Case-Shiller: San Francisco Home Prices Rose Again in March, Climbing 22 …

Top cities to buy bargain fixer-uppers don’t include San Francisco

Top 10 cities for dogs

San Francisco Housing Bubble May Be Brewing, Says New Report

Sacramento, Calif.

Santa Barbara/Santa Maria/Lompoc, Calif.

San Francisco, Calif.

San Jose, Calif.

Phoenix, Ariz.

Atlanta, Ga.

Oakland, Calif.

Seattle/Bellevue/Everett, Wash.

Fresno, Calif.

Riverside, Calif.

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