Oakland, A’s begin Coliseum ballpark negotiations

The Oakland A’s now have the blessing to study both the Coliseum and Howard Terminal in their quest to build a new ballpark in Oakland.

The Oakland City Council on Tuesday night approved an “exclusive negotiating agreement” with the A’s, allowing the two to begin talks about constructing a ballpark at the Coliseum, the MLB team’s home for 50 years.

In vote taken just before midnight, the council entered into an agreement to negotiate with the A’s over the next nine months, while President Dave Kaval studies if the 112-acre East Oakland site is the right fit. The city can extend the negotiations for an additional three months.

“This decision about a new privately-financed ballpark is a really important moment not only for the A’s but our community,” Kaval told council. “We look forward to working together not only this year but for many years to come.”

Last month, the A’s and the Port of Oakland agreed to study Howard Terminal, located near Jack London Square and the estuary. Kaval has called the study of two sites “parallel paths” to keep the team in Oakland.

Though an aging complex, the Coliseum has had some bites from developers lately. Walnut Creek developer Mark Hall approached the city to build a 15,000-18,000 seat soccer stadium for a United Soccer League franchise. The city said another person proposed to build a corporate campus at the Coliseum.

While Howard Terminal needs environmental review and has access issues, an environmental review for the Coliseum is already completed. It’s also favored for its proximity to BART, Interstate 880 and the Oakland International Airport.

 

 

Read more from East Bay Times

 

 

Housing high-rise breaks ground outside Oakland’s MacArthur BART station

The tallest building of BART’s biggest residential development broke ground Wednesday in Oakland, promising to house hundreds of families feet from the MacArthur station when it opens in 2020.

The 24-story, 402-unit high-rise dubbed Skylyne will be one of the largest apartment buildings in the city. It had been in the making for more than a decade, and developers in recent years sought to more than double the tower’s height as demand for housing surged.

The neighborhood’s zoning doesn’t allow buildings above 90 feet, but developers McGrath Properties and Boston Properties got an exemption for setting aside 45 units for affordable housing and making investments in local parks and community programs. At 260 feet tall, the building will include 13,000 square feet of commercial space on the ground floor.

“Unleash the mammoth!” developer Terry McGrath said at a groundbreaking ceremony.

 

Read more from SFGate

 

 

The only one in the room: How the Bay Area’s real estate industry is grappling with diversity (Video)

Many in the commercial real estate industry often find themselves “the only one in the room” who is different.

White males still dominate in many professional settings in commercial real estate and especially in the executive ranks. While the tech industry has come under intense scrutiny for a lack of diversity in its workforce and investing millions into addressing the problem, commercial real estate has largely received a pass.

How to Move the Needle on Diversity

Industry groups including CREW, NAIOP, the Urban Land Institute and the Building Owners and Managers Association are looking at how to address the lack of diversity.

The San Francisco chapter of BOMA has been working with San Francisco State University, where the study body is more than 70 percent female and/or people of color, on a certificate program in real estate for finance majors and a fellowship program that places students in internships and provides mentorship.

Many commercial real estate executives say diversifying their staffs is a top priority. here are some best practices employees shared:

“Creating a diversity task force or committee to help steer recruiting and operations policies to be more inclusive and sensitive can be effective. Adding a diversity liaison and incorporating diversity goals into company culture and core values is key. The latter takes time and commitment. Supporting groups that help boost women such as CREW and other groups within the industry is also important.”

James Kilpatrick, President
NAI Northern California, a commerical brokerage firm

 

Read more from San Francisco Business Times

 

 

AI is Changing the CRE Game: Here’s 5 Ways

CRE industry leaders using artificial intelligence to analyze and apply data to decision making saw productivity increase of up to 6% compared to competitors.

In a study by Harvard Business Review about the revolution of big data as a management tool, it was found that artificial intelligence used to analyze and apply data to decision making by those at the top of the CRE industry saw an increase of up to 6% in productivity compared to their competitors.

AI is changing the CRE game in several different ways and in turn, having an impact on all CRE sectors in different ways.

Read more from NAI Global

 

 

Nine Proven Strategies To Make 2018’s Peak Rental Season Vacancy-Free

In much of the country, the start of peak rental season is just a handful of weeks away, meaning that now is the time to get ready for the rush.

The beauty of peak season is that more people are looking for places to live, which means your pool of potential applicants is bigger — but the flip side is that all of your current tenants are also more likely to move on.

Whether this is your first peak season or your fiftieth, these nine strategies can help minimize the chances that any of your units sit empty, even when turnover is high.

Read more from Forbes

 

 

Scott Wiener’s controversial housing bill gained a big supporter in BART

The fight over SB 827, a proposed law from California State Sen. Scott Wiener to upzone development sites near transit centers, has supporters and detractors lining up in due course.

If approved by the legislature, the law would limit local control over density, parking spaces and heights for housing projects within a certain distance to transit stops. Proponents of the law pitch a symbiosis between housing development and transit options, with the proximity of the two mitigating traffic congestion.

Recently, the effort to pass the law added the region’s most heavily trafficked public transportation system as a proponent: Bay Area Rapid Transit. Earlier this month the BART Board narrowly voted 5-4 to support the measure.

In many cases, building on transit agency sites takes decades, with negotiations with multiple government agencies, substantial community input, difficulties with financing and expensive parking requirements all playing a role.

BART has shown a willingness to support transit oriented development before, approving a policy in 2016 that encourages 20,000 homes to be built on its land by 2040.

Read more from San Francisco Business Times

 

 

Dorm living for professionals comes to San Francisco

The middle-class backbone of San Francisco is looking to move into dorms.

In search of reasonable rent, the middle-class backbone of San Francisco — maitre d’s, teachers, bookstore managers, lounge musicians, copywriters and merchandise planners — are engaging in an unusual experiment in communal living: They are moving into dorms.

Shared bathrooms at the end of the hall and having no individual kitchen or living room is becoming less weird for some of the city’s workers thanks to Starcity, a new development company that is expressly creating dorms for many of the non-tech population.

Starcity has already opened three properties with 36 units. It has nine more in development and a wait list of 8,000 people. The company is buying a dozen more buildings (including one-star hotels, parking garages, office buildings and old retail stores), has raised $18.9 million in venture capital and hired a team of 26 people. Starcity said it was on track to have hundreds of units open around the San Francisco Bay Area this year, and thousands by 2019.

Read more from The New York Times

 

 

Exclusive: A 102-year-old East Oakland warehouse has been reborn as offices and artist studios

The project is one of East Oakland’s biggest in years.

The property at 2744 E. 11th St. opened in 1916 as a cannery for H.G. Prince, a company that invented a method to remove pits from fruits – a fitting use in a neighborhood once known for its orchards. Decades later, Lucasey Manufacturing Corp., a maker of television mounts, bought the building and stored products there, part of the blue-collar industry of Oakland.

Another transformation will happen next month, when the building reopens as more than 100,000 square feet of offices, industrial and artist space called Artthaus Studios.

The project will be one of the largest new developments in East Oakland. It is the largest source of modern, renovated artist and maker space in the area, said Riaz Taplin, CEO of Riaz Capital, the project’s developer, general contractor and designer.

“Oakland has really taken this new role within the Bay Area as the home of the creative community. So creating a building to accelerate the innovation of those types of businesses and people and creators and artists was the goal in creating Artthaus Studios,” said Taplin.

Taplin believes the project provides three benefits for smaller businesses and creative companies: It creates collaboration by concentrating various businesses in the same building, it provides a new facility near a BART station and it’s relatively affordable for new space.

“We wanted to tailor the spaces to be for small, young businesses — entrepreneurial, small businesses, ideally in the creative industries,” said Taplin. “We wanted to create an environment, which made them competitive. We want to make it easy to collaborate. We wanted to make it easy for them to seek out customers.”

Read more from San Francisco Business Times

 

 

 

These NAI Global Offices Crushed Social Media in 2017

There are NAI Global offices crushing it all over the globe.

Last year, we watched some of our North American members soar on social media. Here are a few NAI offices that made a big splash in 2017.

NAI Offices that Crushed in 2017

If you haven’t done so already, you should be following NAI Global on Twitter. There we share market analysis and research, links to quality industry posts, and NAI Global office spotlights. Keep your eyes peeled – some of the offices are located in some of the secondary cities to watch in 2018.

California – NAI NorCal

The NAI NorCal office happens to represent three of the secondary cities to watch in 2018 including San Jose, Oakland, and San Francisco. With nearly a thousand followers and close to 2K tweets, NorCal shares quality content covering their consulting services.

Ohio – NAI Daus

NAI Daus is one of several Ohio member offices crushing it on social media with over 2,600 tweets and more than 1,600 followers.

Arizona – NAI Horizon

Phoenix is one of the 5 markets to watch in 2018 for CRE investors. It is also one of the secondary cities to watch. It’s no surprise that they are burning it up on social media, amassing over 2,300K followers promoting content and information about their local, national, and international real estate services.

Oregon – NAI Elliott

Portland is another secondary city to watch in 2018. NAI Elliott is a full service CRE firm with a healthy network through several ties to local, state, and national CRE organizations.

Nebraska – NAI NP Dodge

In Omaha, NAI NP Dodge is using social media to become a national powerhouse. They have over 3K tweets and more than 1,500 followers giving them one of the highest search rankings on Twitter of all NAI Global member offices.

Texas – NAI Partners

Texas is home to two secondary cities to watch this year – Houston and Austin. NAI Partners is one of the largest CRE companies in the region serving up “fresh” content daily.

Florida – NAI Merin Hunter

NAI Merin Hunter is one of three Florida  affiliates that crushed social media in 2017 and represents Palm Beach County, one of the secondary cities to watch.

Maryland – NAI KLNB

With every tweet, KLNB LLC appears to gain 2.5 followers. Covering the Mid-Atlantic region, including Baltimore (a secondary city to watch) KLNB has over 1,700 followers after posting 732 quality tweets.

California – NAI Capital

NAI California is one of the largest CRE companies in Southern California.  They share great market insight with their over 1,800 followers.

North Carolina – NAI Carolantic

Raleigh/Durham is a secondary city to watch in 2018 and falls under the auspices of NAI Carolantic. They cover Research Triangle Park – an area of high interest for CRE investors and businesses.

New York – NAI Long Island

NAI Long Island is crushing the social media game with over 2,000 tweets to their more than 1,900 followers.  They have steadily grown their following and land high in the search rankings on Twitter.

Florida – NAI Miami

Miami is another secondary city to watch in 2018. NAI Miami is a full service CRE that prides itself on understanding the needs of owners, developers, and users.  Their Twitter feed provides insight to assist owners as well as those seeking property.

Ohio – NAI Ohio Equities

NAI Ohio Equities is another NAI office using strong content to garner higher search rankings on Twitter. Representing central Ohio, Ohio Equities has nearly 1,200 followers and tweets almost daily.

Deleware — NAI Emory Hill

Beyond being one of our NAI offices to be spotlighted this year, Emory Hill is one of the biggest CRE stars on Twitter with over 2K followers and close to 2K tweets.

 

Full article from NAI Global

 

Chase Center starting to look like an arena

Future home of the Warriors comes to life

It’s been a full year since the Chase Center, future home of the Golden State Warriors, broke ground in San Francisco’s Mission Bay. And now—at last—it’s beginning to take shape, with a visible arena oval, giving a clear sense of what’s to come.

Only three months ago it didn’t look like much. What a difference three months make. Roughly 450 workers per day work to construct the billion-dollar project

The Chase Center isn’t scheduled for completion until the end of 2019, so this project will take its time. Once completed, the 18,000-seat arena will also boast 100,000 square feet of retail and restaurant space, as well as five-plus acres of public waterfront park.

Read more from Curbed SF