Posts

NAI Northern California Represents Seller and Buyer in $13.6M Transaction of Newark Square Shopping Center

Newark, CA – June 29, 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 $13.6 million sale of a neighborhood center, Newark Square Shopping Center.

Vice President, Mary Alam and Investment Advisor, Joshua Ballesteros represented both Buyer and Seller in this off-market transaction.

“With 26 tenants and approximately 40 years of operating history, we are pleased to have helped our Buyer and Seller in evaluating, managing, and communicating the large amount of data associated with this property,” said Alam who, with her partner, Joshua Ballesteros, managed this transaction over a long and often challenging eight-month escrow. “We are thrilled to have closed this sale to everyone’s satisfaction,” she added.

Newark Square includes six buildings spread over three separate parcels with a total lot size of approximately 5.1 acres. The center which was constructed in 1960, hosts a number of long-term, stable tenants with below-market rents and NNN leases, and offers ample parking and prominent signage. Tenants at the property include well-known franchises such as Subway, Round Table Pizza, Taco Bell, Carl’s Jr., and Check Center. The latter three tenants occupy their own separate retail pads.

“The property is a neighborhood center with services that cater to the daily needs of the local population. With the projected continued growth of the Fremont-Newark corridor, it is expected that demand for these services will increase as the area draws more residents to its relatively affordable housing and its easily accessible location,” said Alam.

Located on 5510-5650 Thornton Avenue in Newark, CA, Newark Square is a 50,047 square foot neighborhood shopping center located less than one mile away from the I-880 Nimitz Freeway and the intersection of Thornton and Cedar with an average daily traffic volume of 21,548 visitors. The area boasts a population count in excess of 160,000 people within a three-mile radius and a healthy average household income of $115,000.

About NAI Global
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 425 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 $1.75M Sale of Multifamily in Oakland’s Jingletown District

OAKLAND, CA – June 12, 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 $1.75 million sale of a multifamily property in the Jingletown district.

NAI’s Principal, Grant Chappell and Investment Advisor, Joanna Larson were able to secure an all-cash buyer in this off-market deal to navigate and close a complicated transaction.

Mr. Chappell expressed the various obstacles and advantages in the transaction. “The asset needed upgrades to several components of the property with several moving parts. At $97 per square foot, the purchase offered tremendous intrinsic value to the buyer and long-term rental upside in the dramatically improving Fruitvale sub-market. With a close of less than 45 days, the buyer and seller were both pleased with the outcome.”

At 18,560 square feet and three stories tall, this 13-unit apartment complex is valued at $136,538 per unit. With Jingletown becoming one of Oakland’s fastest growing Art & Business communities, this commercial real estate acquisition represents a perfect opportunity for tapping into a newly bustling region of Oakland.

The multifamily property is located at 1218 Miller Avenue with ease of access to I-880 and I-580 freeways, and Fruitvale BART station. Although built in 1922, the property was upgraded with new kitchens, bathrooms and flooring while promising a significant upside in rents for the buyer.

About NAI Global
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 425 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 $4.18M Sale of CVS Pharmacy in Sacramento

SACRAMENTO, CA – May 31, 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 $4.18 million sale of a CVS retail property in Sacramento.

Vice President, Mary Alam and Investment Advisor, David Olsen, represented both the seller and buyer in the absolute triple net transaction with a three-year lease term.

Located in the dense, high traffic Natomas area of Sacramento on 1587 W El Camino Avenue, the transaction of the 23,000 square foot CVS property reveals a profitable opportunity to the new buyer given that it is the only corporate drugstore within a three-mile radius.

Ms. Alam explained, “This transaction presented many challenges due to the ownership structure and zero cash flow terms. We are pleased to have been able to leverage our extensive experience to close this deal to meet our clients’ goals and expectations.”

“Despite the challenges of this deal, we were able to achieve the best results for all parties, which is always our goal,” Mr. Olsen added. “Additionally, this represents NAI Northern California’s fourth NNN transaction in the Sacramento MSA in recent months, increasing our dominance in the Northern California retail market.”

Although a zero cash-flow deal, it is anticipated that the buyer may realize positive cash flow by year five assuming the absence of loan fees. The tenant has made major improvements to the property in the last five years and holds a steady track record of raking in strong store sales.

Some of the retailers’ nearby tenants include a variety of restaurants and cafés, banks and neighboring business parks of the Stone Creek Center between Highways I-5 and I-80.

About NAI Global
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 425 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 $3.68M Sale of 12-Unit Multifamily Property

OAKLAND, CA – May 24, 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 $3.68 million sale of a multifamily property in Adam’s Point.

Vice President, Shivu Srinivasan and Investment Advisor, Robert Dau, represented the seller in the transaction process that attracted multiple offers.“With six offers over the asking price, we delivered $185K over list price, and went well beyond the seller’s wildest pricing expectations. This property is a true gem and just walking distance from Lake Merritt.”

The 9,560 square foot multifamily property built in 1975 features 12 one-bedroom, one-bathroom units with ample parking and an overall high potential for an optimal rental upside. With an estimated $385.50 price per square foot, each unit is valued at roughly $307,000.

Located at 394 Orange Street, this multifamily property resides in a quaint region of the East Bay Area, close to Downtown Oakland, Lake Merritt, 19th Street BART station, and offers numerous choices for dining, shopping and entertainment.

About NAI Global
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 425 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 $2.9M Sale of Berkeley Multifamily Property

BERKELEY, CA – May 22, 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 $2.9 million 14-unit multifamily property in Berkeley, CA.

Vice President, Shivu Srinivasan and Investment Advisor, Tim Warren, represented both the buyer and seller in the real estate deal. In this off-market transaction, the seller was looking to cash out and retire from the rental business.

Mr. Warren overcame some challenges with the process of selling the property. “In addition to the deferred maintenance on the 54-year old, 7,047 square foot building, the in-place rents were very low and five of the units were vacant,” he explained.

On the other hand, the multifamily property is an outstanding value-added opportunity for the buyer. Just walking distance from the University of California, Berkeley campus and cradled between the Downtown Berkeley and Ashby BART stations, this location is a perfect rental choice for students and commuters.

Additionally, the multifamily property located at 2123 Blake Street is surrounded by a wealth of culture and recreation from various restaurants, city parks, stadiums and theaters.

About NAI Global
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 425 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 $3.8M Sale of Piedmont Multifamily Property

OAKLAND, CA – May 19, 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  $3.8 million multifamily property in the prominent Piedmont/Grand Lake area of Oakland, CA.

Vice President, Shivu Srinivasan and Investment Advisor, Robert Dau, represented the seller in the off-market transaction. This trophy property located at 3779 Harrison Street with a total of 16 units including a penthouse, boasted a tremendous investment opportunity. “With low in-place rents, but substantial upside, this deal was truly a win-win for both the buyer and the seller,” stated Shivu Srinivasan.

Built in 1964 and over 12,000 square feet with 15 two-bedroom units and one one-bedroom penthouse, this multifamily residence offers dwellers easy access to downtown Oakland, Lake Merritt, and Piedmont Avenue.

The property is also in close proximity to MacArthur BART station, freeways I-580 and I-980, and is minutes from major hospitals, businesses, restaurants and shopping centers.

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 425 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 $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.