820 26th Street is now available for lease. This 6,300+/- SF warehouse/distribution space is totally clearspan with 20′ ceilings, sprinklers, heavy power and two (2) large drive-in doors. The property is situated only one block from the 3rd Street rail line and is located in the Dogpatch/Potrero Hill area. $8,700.00/month ($1.38 psf.)
If you have any questions about this property or the San Francisco commercial real estate market, please call 415.970.0000.
Calco Commercial has leased 3175 17th Street in San Francisco. This 6,800+/- square foot ground floor “creative” space includes HVAC, heavy power & electrical distribution, exposed wood ceilings, and is in close proximity to public transportation and BART. Located in the Mission District, 3175 17th Street is located directly across from Mission Bowling and the ODC Theatre.
If you have any questions about our other available listings, the San Francisco commercial marketplace or market conditions, please call our office at 415.970.0000.
Source: San Francisco Business Times
The current boom in the tech industry isn’t necessarily comparable to the 1990s dot-com bubble, although a downturn in high-tech would significantly hurt the Bay Area economy.
Those are some of the thoughts from John Williams, the Federal Reserve’s president in San Francisco, during a sit-down interview with the Contra Costa Times.
Williams said demand for products and services during the dot-com bubble came from companies that were a mirage. He noted the current tech boom isn’t necessarily as pervasive.
However, Williams said a burst tech bubble this time around would put a large dent in the economy, especially if the wealth of employees at companies such as Facebook and Google plummeted.
Williams said the Bay Area economy is improving dramatically with the exception of the housing industry in some outlying areas.
He noted San Francisco’s economy is “on fire,” thanks to in part to a strong real estate market.
http://www.bizjournals.com/sanfrancisco/blog/2014/08/sf-fed-reserve-president-high-tech-boom-bubble.html
Source: San Francisco Business Times
Author: Blanca Torres
It’s no secret that tech leasing is driving San Francisco’s office market, but exactly how much?
At the end of last year, San Francisco was home to more than 53,000 tech jobs— a number that has grown significantly in recent years and is expected to keep growing.
What that means for real estate is that of the close to 3 million square feet of office space under construction,100 percent of the tenants pre-leasing space in forthcoming buildings are tech companies according to data crunched by Cushman & Wakefield. So far, those firms snatched up 70.1 percent or about 2.2 million square feet of the space under construction.
That includes buildings such as:
222 Second St., 450,209 square feet: 100 percent leased to LinkedIn.
333 Brannan St., 180,000 square feet: 100 percent leased to Dropbox.
345 Brannan St., 113,000 square feet: 100 percent leased to Dropbox.
350 Mission St., 444,000 square feet: 100 percent leased to Salesforce.
270 Brannan St., 182,000 square feet: 100 percent leased to Splunk.
415 Mission St., 1,412,898 square feet: 50 percent leased to Salesforce.
535 Mission St., 303,780 square feet: 30 percent leased to Trulia.
For existing space, the tech leasing explosion means more landlords are looking for ways to make their buildings “creative” with features like taking out dropped ceilings — a trend that applies to 14 percent of commercial business district space in San Francisco. Landlords have modified about 10.2 million square feet of traditional office space to fit the needs of tech tenants. Rents for modified space have risen an average of 52 percent since the bottom of the market to $64.44 per square foot.
Rents for “prime creative space” went up even faster, by 76.5 percent since the bottom of the market in to average asking rates of $61 per square foot, Cushman & Wakefield said. San Francisco’s office market includes about 51 buildings constituting 6.5 million square feet of creative space defined as “historic and/or brick & timber construction that has undergone a major retrofit.”
Average asking rents in San Francisco’s overall office market shot up about 55 percent to $63 per square foot since the bottom of the market.
http://www.bizjournals.com/sanfrancisco/blog/real-estate/2014/08/tech-dominates-linkedin-salesforce-dropbox-trulia.html?page=all
2130 Oakdale Avenue has been brought to the market available for lease by Calco Commercial. This 12,800+/- square foot concrete building boasts 25′ ceilings, 400 amp 3 phase power and one (1) large drive-in loading door. Located in the Bayshore area of San Francisco, this property has great freeway access (to both Highway 101 and I-280) and will be available to lease October 1, 2014 at $1.30 per square foot.
If you have any questions about this listing or our other available commercial real estate, please call 415.970.0000.
13,235 – 17,000+/- square feet of the ground floor at 375 Alabama Street has been brought to the market for lease by Calco Commercial. This space is zoned PDR, has three (3) loading doors, one (1) drive-in door, two (2) pony dock-high doors, 17′ ceilings, excellent natural light and side loading via a small exterior yard.
375 Alabama Street is centrally located in the Mission District with excellent access to public transportation, parks, restaurants and shops and will be available for occupancy January 1, 2015 at $1.65 per square foot.
If you have questions about this property, or out other available commercial properties, please call 415.970.000.
Calco Commercial has just brought 360 Bayshore Boulevard to the commercial real estate market for lease. This 5,720+/- square foot clear span warehouse has one (1) drive-in loading door and has zoning that allows for wholesale and retail uses. The property is available now and is leasing for $1.50 per square foot, NNN.
If you have any questions about this property or our other available listings, please call 415.970.0000.
Oakland looking more and more like the new SoMa for tech leasing
Source: San Francisco Business Journal
Author: Blanca Torres
As office rents soar and available space plummets in San Francisco and the Peninsula, now may be the right time for tech companies to pack up for Oakland.
Oakland is a prime position to attract tech tenants that could be priced out or simply can’t find space in the West Bay, said Bill Cumbelich, a broker with CBRE. Cumbelich mostly concentrated on San Francisco, but is now handling leasing for Oakland office buildings.
In the past, price was the primary reason to defect from San Francisco to the East Bay, but the scenario has changed. Oakland now boasts many of the urban amenities that draw tech tenants to San Francisco: proximity to BART and other public transportation, restaurants and nightlife. On top of that, housing is more affordable.
“We see this real estate cycle as a different scenario,” Cumbelich said. “It will be easier to attract and retain employees in Oakland. We think Oakland could be another submarket of San Francisco.”
Cumbelich isn’t the only person who sees Oakland as the SoMa of the future. Mitch Kapor, an early tech founder and philanthropist, moved his foundation and investment fund to Oakland two years ago and also made the Oakland-SoMa comparison. What made SoMa what it is now is that it started out as gritty and underutilized and was transformed into an edgy office market that attracted companies to break the norm.
Already, the migration trend of tenants going west to east is taking hold, said Trevor Thorpe, who manages CBRE’s East Bay operations. The wave started with non-profits, grew to professional services like law and engineering firms. Tech, he said, is next. The same pattern happened when SoMa went through revitalization as tenants were priced out of other parts of San Francisco. In the past three years, average asking rents in San Francisco shot up by 90 percent to $59 per square foot in 2013 from $31 per square foot in 2010. In Oakland, rents have climbed by 15 percent during the same period from $24 per square foot in 2010 to $28 per square foot in 2014 — half of the San Francisco average.
Besides rents soaring, San Francisco is the middle of a space crunch despite more than 4 million square feet of office space under construction since much of the new space is pre-leased. In a few years, development activity could hit a voter-approved cap on office development known as Prop. M that would stall prospective projects. Oakland’s has cheaper rents along with more available space will work in Oakland’s favor. The vacancy in San Francisco is 7 percent vs. 14.2 percent in Oakland.”We believe that the recent commercial real estate renaissance in the Oakland market is supporting a more broad-based and sticky (i.e. permanent) economic recovery and transference of users to the East Bay,” Thorpe said.
So far, the spillover effect from San Francisco to the East Bay counts more than 300,000 square feet of leasing. The East Bay has yet to land a marquis expansion or headquarters in this cycle, but that could happen once more creative space opens up in repositioned properties like the Sears department store that was recently bought by Lane Partners. Lane has plans to revamp the building as Uptown Station. Lane Partners is planning an extensive renovation of the 400,000-square-foot property that should be done by 2016. The work hasn’t even started and already a tech tenant with a requirement for 150,000 square feet has toured the building, Cumbelich said. “The building is being designed for tech,” he said. “We can land a big tenant in the next 12 months.”
http://www.bizjournals.com/sanfrancisco/blog/real-estate/2014/08/oakland-new-soma-office-leasing-tech-tenants.html?ana=e_du_pub&s=article_du&ed=2014-08-05&u=19ELr7OrYiuRqEUxO8W3yQ0d406714&t=1407279084&page=all
Source: San Francisco Business Journal
Author: Kystal Peak
Alexandria Real Estate Equities has submitted plans to transform the collection of warehouses and parking lots on the 500 block of Townsend St into 258,000 square feet of office space.
The new building would reach seven stories on Townsend Street and five stories along Harriet Street. This plan would presumably place the building right up against the I-280 freeway. However, in the proposal, the Planning Department notes that the freeway may eventually come down and be replaced by public space, according to SF Curbed. Alexandria planners were told to consider incorporating these hopes into their design in case it becomes a reality.
As SoMa continues to evolve in the latest tech and real estate boom, dozens of projects are changing the once very industrial landscape near the freeway.
http://www.bizjournals.com/sanfrancisco/blog/2014/07/alexandria-real-estate-equities-sf-office-townsend.html
Calco Commercial represented the Landlord in an 11,395+/- SF office lease with the Munchery located at 375 Alabama Street. The creative office space was recently renovated and includes a full kitchen, HVAC, conference rooms, private offices & open areas, high ceilings, with superb natural light and a saw-tooth roof. Located in the Mission, 375 Alabama Street boasts excellent public transportation and is in close proximity to a myriad of local amenities, shops and restaurants.
Calco Commercial specializes in both Landlord and Tenant representation in the San Francisco and Peninsula markets. If have any questions about our available listings or about market conditions, call our office at 415.970.0000.
