Posts

BART, Concord eye vacant site for affordable housing

BART may partner with the city to bring much-needed affordable rental housing to a vacant property a few blocks from the downtown station.

The transit agency owns a 9-acre parcel between Monument Boulevard and San Miguel Road that sits just south of the Concord skate park. Although a canal runs through the property, city staffers believe at least part of it could be developed.

BART works with local communities to develop high-density housing at its stations. Such mixed-use developments are under construction at the Walnut Creek, MacArthur and Coliseum stations, however the Concord project would be the first built on an off-site BART property, according to spokesman Jim Allison.

Read more from East Bay Times

NAI Northern California Represents $4.3M Sale of Two Mid-Market Retail Condos

SAN FRANCISCO, CA – May 16, 2017 NAI Northern California, the Bay Area presence for NAI Global, the largest commercial real estate brokerage network in the world, is proud to announce the sale of a record-breaking transaction of $4.3 million on two retail condominiums located in the emerging and revitalized Mid-Market corridor.
Vice President, Mary Alam, listed the deal and represented the seller for the properties located at 938 Market Street. Ms. Alam has worked in real estate and related fields for more than 10 years.
In this transaction, she worked with a foreign buyer looking to invest in the San Francisco market where she identified a profitable purchase for the buyer at a 3.75% CAP rate. With the high volume of leases nearing expiration, it is expected that rents in the area will continue to increase over time as they become replaced with higher rents as new leases are signed.
“This transaction is exciting, as it sets a price record per square foot at this location. It is a sign of even better things to come for the Mid-Market area,” says Ms. Alam, who specializes in leased investments with a focus on retail, office and hotel properties, as well as redevelopment opportunities throughout Northern California. She manages a sales portfolio of single and multi-tenant retail properties nationwide.
The recently sold 3,068 square foot retail property sits among a variety of high-end shopping avenues such as the 6X6 Retail Center, Westfield Center, Powell Street Hub, Nordstrom Rack and Saks Off 5th. The area of Market Street bordered by 5th Street on the north and Van Ness Ave on the south, known as Mid-Market, has garnered major investor attention in the past few years.
With Twitter occupying a location at Market and 10th Street and other high-tech firms and startups having followed suit, the area has many development projects underway that include hospitality, retail and multifamily.

About NAI Northern California
NAI Northern California is at the leading edge of technology, collaborative culture, and training, giving our local professionals a competitive advantage and creating better outcomes for our clients. We are consistently a top Commercial Brokerage in the Bay Area, and continue to grow our team and revenues.

NAI Global is the largest commercial real estate brokerage network. Founded in 1978, today NAI Global has more than 400 offices worldwide and over 7,000 professionals, managing over 380 million square feet of property. Global offices deliver market-leading services locally and combine their in-market strengths to form a powerful bond of insights and execution for clients with multi-market challenges.

To learn more, visit www.nainorcal.com
Explore career opportunities with our winning team at www.nainorcal.com/careers

NET LEASE RESEARCH

I’d like to receive consolidated exclusive listings emails, news, research reports, etc. (up to 3 emails per week)

NEW PROPERTY LISTINGS

I’d like to receive all individual property listings as they become available.
(up to 5 emails daily)

PROPERTY TYPE

PRICE LEVELS

YOUR ROLE

 1



 1
* - required fields.

NAI Northern California Represents $8.5MM Sale of 28-Unit Multifamily Property in San Francisco

San Francisco, CA – April 10, 2017– NAI Northern California, the Bay Area presence for NAI Global, the largest commercial real estate brokerage network in the world, is proud to announce the sale of a San Francisco multifamily property for $8.5 million dollars. Senior Investment Advisor, Joby Tapia of NAI, represented the buyer in the sale of the Valencia Street property.

Family owned for over 30 years, Mr. Tapia, helmed the buyer through an extensive process in selling the 28-unit multifamily property.

“Despite the lengthy and challenging Escrow process, I quickly identified the hidden needs of the seller and the appropriate buyer for the property so the seller could execute a 1031 exchange to increase cash flow for family needs,” Mr. Tapia explained.

Initially, the seller was seeking representation to lease restaurant space on the ground floor. Mr. Tapia’s extensive experience with property management and brokerage resulted in a substantial benefit to the buyer.

The multifamily property located at 901 Valencia Street in San Francisco was built in 1908 and is surrounded by a host of restaurants, bars and cafés. Equipped with 68 rooms within four stories and spanning over 18,000 square feet, this original San Francisco property reveals yet another trend in the market with buyers selling older multifamily real estate in exchange for lower-maintenance investments.

About NAI Northern California
NAI Northern California is at the leading edge of technology, collaborative culture, and training, giving our local professionals a competitive advantage and creating better outcomes for our clients. We are consistently a top Commercial Brokerage in the Bay Area, and continue to grow our team and revenues.

NAI Global is the largest commercial real estate brokerage network. Founded in 1978, today NAI Global has more than 400 offices worldwide and over 7,000 professionals, managing over 380 million square feet of property. Global offices deliver market-leading services locally and combine their in-market strengths to form a powerful bond of insights and execution for clients with multi-market challenges.

To learn more, visit www.nainorcal.com
Explore career opportunities with our winning team at www.nainorcal.com/careers

NET LEASE RESEARCH

I’d like to receive consolidated exclusive listings emails, news, research reports, etc. (up to 3 emails per week)

NEW PROPERTY LISTINGS

I’d like to receive all individual property listings as they become available.
(up to 5 emails daily)

PROPERTY TYPE

PRICE LEVELS

YOUR ROLE

 1



 1
* - required fields.

NAI Northern California Represents Buyer in $2.87MM Sale of Net Leased R&R BBQ in Utah

South Jordan, Utah – April 3, 2017 – NAI Northern California, the bay area presence of NAI Global with 400 offices and 6,700 professionals worldwide, is proud to announce the $2.875M sale of a Net Leased R&R BBQ in South Jordan, Utah. Investment Advisor Tim Setiawan of NAI, exclusively represented the buyers in their 1031 exchange.

Tim Setiawan found and researched numerous exchange options in advance of the clients’ downleg sale closing, bringing a team of professionals together.

“Once in contract to sell their 7-unit apartment building in San Francisco, an extensive national search was undertaken for NNN retail properties with much greater cash flow and much less management” stated Mr. Setiawan.

The property is a completely renovated 4,882 square foot restaurant, that opened in 2016. The operators plan to quickly expand this concept through South Jordan, a rapidly growing region of Utah. R&R BBQ currently operates two locations in Utah.Twin brothers, Rod and Roger Livingston, co-founded the brand in 2012 after years of winning barbeque competitions.

Nestled in a busy metropolitan plaza, this restaurant is next to big box retailers and medical offices, and is near Salt Lake City International Airport. The concept has quickly racked up 165 positive reviews.

About NAI Northern California
NAI Northern California is at the leading edge of technology, collaborative culture, and training, giving our local professionals a competitive advantage and creating better outcomes for our clients. We are consistently a top Commercial Brokerage in the Bay Area, and continue to grow our team and revenues.

NAI Global is the largest commercial real estate brokerage network. Founded in 1978, today NAI Global has more than 400 offices worldwide and over 7,000 professionals, managing over 380 million square feet of property. Global offices deliver market-leading services locally and combine their in-market strengths to form a powerful bond of insights and execution for clients with multi-market challenges.

To learn more, visit www.nainorcal.com
Explore career opportunities with our winning team at www.nainorcal.com/careers

NET LEASE RESEARCH

I’d like to receive consolidated exclusive listings emails, news, research reports, etc. (up to 3 emails per week)

NEW PROPERTY LISTINGS

I’d like to receive all individual property listings as they become available.
(up to 5 emails daily)

PROPERTY TYPE

PRICE LEVELS

YOUR ROLE

 1



 1
* - required fields.

NAI Northern California Represents $1.3MM Sale of Multifamily and Sets Record for Oakland

OAKLAND, CA – April 6, 2017

NAI Northern California, the Bay Area presence for NAI Global, the largest commercial real estate brokerage network in the world, is proud to announce the sale of a unique multifamily property in West Oakland. Sr. Vice President, Grant Chappell and Investment Advisors, Tim Norkol and Jenny Lu, represented the seller in the $1.3 million dollar sale.

Sold at $350K over the asking price, the two-unit, 3,120 square foot multifamily building received 15 offers and was followed by a swift 21-day Escrow. Additionally, the transaction set a record for West Oakland at $650,250 per unit.

“This property was a rare opportunity in West Oakland that drew interest from both investors and owner-users,” says Tim Norkol. “With a possible rent control exemption and three bathrooms in each large unit, we received a total of 15 offers and countered the top 4 parties, closing over $350K above our list price, thanks to our strategic marketing plan. The sale was hotly contested throughout and our repeat client was very pleased with the outcome.”

Once an old church, the beautifully renovated and currently vacant property was converted to condominium specifications. It now offers great potential for a harmonious user-owner opportunity with the possibility of rent control exemption.

The Oakland property sits at the crescent of Highways 980 and 880 close to 19th Street BART Station, Paramount Theatre, and various schools and retail outlets.

About NAI Northern California
NAI Northern California is at the leading edge of technology, collaborative culture, and training, giving our local professionals a competitive advantage and creating better outcomes for our clients. We are consistently a top Commercial Brokerage in the Bay Area, and continue to grow our team and revenues.

NAI Global is the largest commercial real estate brokerage network. Founded in 1978, today NAI Global has more than 400 offices worldwide and over 7,000 professionals, managing over 380 million square feet of property. Global offices deliver market-leading services locally and combine their in-market strengths to form a powerful bond of insights and execution for clients with multi-market challenges.

To learn more, visit www.nainorcal.com
Explore career opportunities with our winning team at www.nainorcal.com/careers

NET LEASE RESEARCH

I’d like to receive consolidated exclusive listings emails, news, research reports, etc. (up to 3 emails per week)

NEW PROPERTY LISTINGS

I’d like to receive all individual property listings as they become available.
(up to 5 emails daily)

PROPERTY TYPE

PRICE LEVELS

YOUR ROLE

 1



 1
* - required fields.