Conor, American Realty Advisors Ink 815K-SF Deal with UPS in Fremont

Conor Commercial Real Estate, and partner, American Realty Advisors, signed a record full-building lease with UPS at Pacific Commons Industrial Center in Fremont, CA. The lease of the 814,901-square-foot facility marks the largest speculative industrial building transaction in San Francisco Bay Area history.

The 10-year deal commences in January 2020. The supply chain management and package delivery company will use the property on a 41.75-acre lot at Cushing Parkway and Nobel Drive as an e-commerce and logistics hub to serve Silicon Valley.

Conor’s John Dobrott says, “Pacific Commons was designed to offer many logistical advantages for its tenant. So, we are confident that it will be a great fit for our client and will have a positive impact on their supply chain operations in the Bay Area.”

Lee Associates’ Jeff Huberman and Craig Hagglund represented the tenant. CBRE’s Rob Shannon, Chip Sutherland and Doug Norton advised the landlord.

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Article source: https://www.connect.media/conor-american-realty-advisors-ink-815k-sf-deal-with-ups-in-fremont/

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Not far from SF yet worlds away, this $2.495M ocean-view estate borders a state park

Nestled at the base of Montara Mountain, this two-acre horse estate offers a life very different from that of the city, yet isn’t really all that far away. You can drive from here to San Francisco in a half-hour. The price: $2.495 million.

The home

Inside the main home on 750 San Pedro Mountain Rd. in Montara are 2,998 square feet. This includes four bedrooms and three bathrooms.

There is a split living room. One side, which currently serves as a game room, is warmed by a fireplace; the other, a capacious space with dramatic high-beamed ceilings, wood floors, and glass doors that open to the patio, is warmed by a wood stove.

The patio looks out on the property as well as the Pacific Ocean.

This home was built in 1950, and that retro appeal shows well in the kitchen, which is modern enough for today’s cook but still feels original.

There is both a large formal dining room and a cozy dining nook that flanks an old -ashioned stove.

The property

Ideal for horses, this estate offers 2.02 acres of land as well as boarding stalls.

The property is situated adjacent to open space, particularly the McNee Ranch State Park. Riders would have access to miles of trails, including ones that lead to the beach nearby.

A three-car garage includes a built-in workshop.

The location, though it seems far from any urban concerns, is reasonably close to San Francisco and the Silicon Valley. You can drive to Palo Alto in about an hour.  It’s a short drive to Half Moon Bay and Pacifica.

ALSO: Forget the modern makeover: This Oakland Craftsman asking $898K is lovingly restored

Yet it’s also a rare, private estate, with over two acres, horse boarding, and views of both forest and sea.

“I’ve lived in this area my whole life,” listing agent Nate Serdy of Compass said. “I know how special and unusual this property is.”

Serdy and his mother, Rose Serdy are the co-listing agents selling this home.

The deal

In 1997, you might have been able to buy this property for substantially less. It traded hands then for $617,500. It’s been in the same family ever since.

Today, the price is $2.495 million.

See the complete listing here.

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. Follow Anna on Twitter: @AnnaMarieErwert.

Article source: https://www.sfchronicle.com/realestate/article/Montara-real-estate-for-sale-14429329.php

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The New Normal? Bay Area Property Managers Reckon With Shut-Off Fallout

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When Pacific Gas Electric Co. broadened its shut-off map to about 600,000 customers Wednesday night, the utility company also added to the number of owners and property managers forced to enact emergency measures.

It’s a potential, but untenable, new normal for Northern California.

“There has to be a better way,” said Ed Del Beccaro, executive vice president of TRI Commercial, a prominent Northern California brokerage and property management firm. “We can’t be doing this four or five times a year. This can’t become the new norm.”

PGE did not reply to a request for comment about how often it expects to enact rolling blackouts.

In San Diego County for much of the decade, Public Safety Power Shutoffs by San Diego Gas Electric Co. have been a norm of sorts. The utility company has executed 13 such power shut-offs since the first instance in 2013, SDGE told Bisnow

SDGE’s PSPS have affected largely the more rural, less densely populated East County, San Diego area, the Southern California Rental Housing Association said Wednesday. PGE’s power shut-offs to over 30 counties in Northern California have impacted considerably more multifamily and office buildings. 

Thrust into new territory starting Wednesday morning with the North Bay Area and counties inland falling into outage zones, Bay Area office and residential property managers have had to do some thinking on the fly while utilizing long-existing protocol.

“You can’t be in a building without power,” Transwestern Northern California Vice President of Asset Services Blake Peterson said. 

For the many older office buildings throughout the Bay Area, that means working remotely, or not at all, and hiring personnel for emergency 24/7 services.

“The whole building card access system goes down, and a lot of times that system is not on emergency power, but runs independently,” Peterson said. “Engineers are on-site, security is on-site checking IDs, letting people in, often just to get medicine or cellphones.”

Both Peterson and Institute of Real Estate Management San Francisco President Vanessa Honey say constant fire watch is a necessity. Honey says security will be compromised to an extent, even with more personnel brought to monitor darkened, unpowered multifamily buildings.

“We actually have to hire someone who is trained to use their eyes and their nose to monitor buildings and notify the fire department in the event of a fire,” Peterson said.

Many of Transwestern’s buildings, including its 1M SF footprint of life science ones in south San Francisco, have generators, but the company has faced several outages in unspecified properties in San Ramon and Walnut Creek. Peterson said Transwestern has taken precautionary measures for properties “on the cusp” of PGE’s shut-off map, which is based largely on weather forecasts, and has been in flux.

“We have a four-story building in Oakland, and we decided to stop using the elevators,” she said. “The really critical piece is communicating with building occupants and owners.”

IREM has stepped up its customer service, according to Honey. Many of its employees have dedicated their time to that given limited productivity on other tasks due to shut-offs. Most of IREM’s leasing offices don’t have generators.

“IREM professionals are going the extra mile from the leasing perspective and being extra kind and understanding during these times,” Honey said. “We have more time because we have less to do with our computers down.”

Transportation has been a widespread concern among tenants and property managers this week, including only recently allayed concerns that the vital Caldecott Tunnel would close and problems with BART would arise. 

“The Public Safety Power Shutoffs are not affecting BART train service in any way because of the enhanced power redundancies we have put in place across BART’s system,” a BART spokesman told Bisnow.

But many were kept from work nonetheless, say Honey and Del Beccaro. Word that the Caldecott Tunnel would remain open barely arrived before outages commenced. 

“I bet there is going to be a run on generators,” Peterson said. “There is potential for landlords to recognize that lack of occupancy means lack of productivity and employers are going to want to be in buildings that can sustain through this type of thing. Our hands are completely tied by what PGE chooses to do.”

“Is this the new normal? That’s the question everyone is asking.”

Article source: https://www.bisnow.com/san-francisco/news/property-management/the-new-normal-bay-area-property-managers-reckon-with-shut-off-fallout-101247

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Bay Area Tech Firms Now Control 103M SF

93790 sf matt chatham Bay Area Tech Firms Now Control 103M SF Chatham says firms having multi-market presence was previously an exception but is now the norm.

SAN FRANCISCO—This week, Cushman Wakefield’s research team released a new infographic, The Great Tech Migration, offering some data points on tech expansion, and highlighting which markets are booming tech hubs and why. Since January 2010, 58 of the 89 Bay Area-headquartered tech and life science companies (100,000 square feet or more) have taken 30.4 million square feet of office space in other US cities.

Article source: https://www.globest.com/2019/10/11/bay-area-tech-firms-now-control-103m-sf/

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Hunter’s Point artist Nina Fabunmi escapes life in real estate to live her dream in SF

Things could have gone quite differently for painter Nina Fabunmi, a child of a Nigerian architect who was encouraged to be creative but not to pursue art as a career—real estate, after all, would be much more practical.

But called as she was to that divine creative, she played around in the arts department while earning her degree in estate management. Fabunmi was barely out of school, in 2001, when a Nigerian gallery owner purchased five of her watercolor paintings. The rest, as they say, is…well, you know.


While working her sensible day job, the artist’s big break came in 2011 when a special commission earned her enough funds to enroll in the MFA Painting program at Academy of Art University and she was off to San Francisco. That same year, she took a job, which she still holds, as docent at the Museum of the African Diaspora; having graduated with her MFA, she is also a part-time faculty member at AAU.

These days, Fabunmi is flourishing in her full-time gig as an artist, with several accolades and exhibitions under her belt. You can meet the artist and see her work in her studio at Hunter’s Point Shipyard during Weekend One of ArtSpan’s Open Studios.

But first! We subjected Fabumni to a Proustian questionnaire on the important things in life—art, books, and margaritas. Check it out below.

 Hunters Point artist Nina Fabunmi escapes life in real estate to live her dream in SFPainter Nina Fabunmi will open her Hunter’s Point studio during ArtSpan Open Studios, Oct. 12-13, 2019.(Courtesy of the artist)

7×7: If you were to die and come back as a person or thing, what do you think it would be?

NF: As a much better version of myself

7×7: Martini, margarita, or Manhattan?

NF: Margarita… I love the way it sounds, though I’d rather have a glass of red wine.

7×7: If you were a painting in a museum what would it be?

NF: The Mona Lisa

7×7: What is your greatest achievement?

NF: Earning my permanent residency in the USA, and winning a beauty pageant as the “Most Gracious Mum In Nigeria,” in 2008.

7×7: What is your favorite book?

NF: Americanah, by Chimamanda Ngozi Adichie

7×7: What is your greatest weakness?

NF: Being a hopeless romantic

7×7: Who’s your local hero?

NF: Fred Jordan, an engineer and patron of the arts who sits on the board of MoAD—he saved my life when I was in a dire medical emergency.

7×7: What is one thing you’d change about SF?

NF: Housing needs to be affordable so I can buy one of my own!

7×7: How does the Bay Area inspire your work—or not?

NF: My painting at the Chase Center is titled Do it tor the Bay. In many ways, my art is of the Bay and I do it for the Bay, and for my African roots.

 Hunters Point artist Nina Fabunmi escapes life in real estate to live her dream in SF

(Courtesy of the artist)

I Will Be, a painting by Nina Fabunmi.

// ArtSpan Open Studios Weekend One is Oct. 12-13, 11am to 6pm, at Hunter’s Point Shipyard; for more information, go to artspan.org. For more on artist Nina Fabunmi, visit ninafabunmi.com.

Article source: https://www.7x7.com/hunters-point-shipyard-artist-nina-fabunmi-2640915673.html

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