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Top investment sales firm NAI Northern California continues expansion in first half of 2019

Leader in Bay Area multifamily, retail, and office investment sales and leasing transactions has aggressive growth plan

SAN FRANCISCO, CA – August 21, 2019 – As the second quarter of 2019 has come to a close, Bay Area commercial real estate brokerage NAI Northern California has continued its expansion with an aggressive growth plan. President James Kilpatrick remarks, “We are well on track to top our total sales volume this year as we expand our team and continue to develop tech-forward strategies to serve our clients.”

NAI Northern California and its brokers were recognized both locally and nationally in the first half of the year. The brokerage was ranked as a Top Sales Firm by CoStar in both the San Francisco and East Bay/Oakland markets, and vice president Tim Warren was named a Top Sales Broker for his work in the East Bay/Oakland market. Investment advisor and rising star CJ Brill was awarded a scholarship for the International Council of Shopping Centers’ RECon conference in Las Vegas. The company’s top-producing agent for Q1 through Q2 was senior investment advisor Rudas Gebregiorgas, followed closely by Mary Alam, Grant Chappell, Alex Barker, Doug Sharpe, Joby Tapia, Tim Warren, Kent Mitchell, Jordan Geller, and Joshua Ballesteros.

The company expanded into the greater Silicon Valley area with the hire of Tod Rudee as Executive Vice President in San Jose. Tod brings nearly 30 years of extensive experience in commercial real estate strategy, transaction services, and brokerage performance management in Silicon Valley. His previous background includes leading the San Jose office as Managing Director for CBRE as well as management roles with Colliers International and Premier Properties. 

The majority of the company’s business was multifamily investment sales for Q1 and Q2. Notable sales included Joby Tapia’s $18 million sale of the Central Valley Homes Apartments, a 24-unit complex in Mill Valley; the Mitchell Warren Team’s $14 million sale of 44 units at 888 Vermont Street in Oakland; and the $11.3 million sale of the Terrace at Fair Oaks complex in Carmichael by Rudas Gebregiorgas and Grant Chappell.

For the first two quarters of 2019, single tenant NNN and multi-tenanted retail center sales were a close second. The $25 million in sales completed by the Mary Alam Team included a $6.7 million Walgreensa $3.8 million retail complex in Tracy, and a $3.65 million Regal Cinemas sold by the Mary Alam Team and Ganga Balebail.

Industrial and office properties rounded out NAI Northern California’s sales for the first half of the year. The most notable assets were a $12 million mixed-use development site in South Beach, San Francisco sold by Alex Barker; a $2 million office/warehouse building in West SOMA, San Francisco sold by the Geller Williams team; and a $2.5 million medical office redevelopment deal in San Jose sold by the Mary Alam Team. Vacant land and mixed-use buildings made up the rest of the properties sold by the brokerage. 

Commercial leasing is an increasing part of the company’s business, with leases to boutique and multinational businesses from a range of industries. Spaces leased by NAI Northern California during Q1 and Q2 ranged from 1,100 square feet to 35,000 square feet, for both office and industrial uses. 

Coming into the second half of the year, NAI Northern California has an aggressive growth plan and is currently hiring commercial real estate agents and senior investment sales advisors for all their offices (San Francisco, Oakland, and San Jose) as well as additional leadership roles for both their San Francisco and Oakland offices. Community outreach and volunteering efforts have also been a key component of company life with volunteer days at Project Open Hand in Oakland and San Francisco.

 

About NAI Northern California

NAI Northern California is a full service commercial real estate firm serving the San Francisco Bay Area and beyond. Our team delivers technology-enabled commercial real estate services that create value for our clients, industry, and communities.

NAI Northern California is a partner of NAI Global, the largest commercial real estate brokerage network with more than 350 offices worldwide and over 6,000 professionals completing in excess of $20 billion in commercial real estate transactions globally.

Recently on the San Francisco Business Times Book of Lists, NAI Northern California hit the top 5 and 6 spots in San Francisco and the East Bay and top 10 Bay Area wide. NAI Northern California is part of the NAI Global network, recently recognized by Lipsey as the number 4 most recognizable commercial real estate brand.

How to take advantage of “Opportunity Zones”

The Tax Cuts and Jobs Act of 2017 created new rules for “opportunity zones,” underdeveloped neighborhoods, sheltering your investments from federal taxes with minimal limits and employment requirements. You only have a few more months to maximize the benefits of this program: so how does it work?

When you sell a property, you can immediately reinvest that gain, tax-deferred, into an Opportunity Zone by depositing it into a qualified Opportunity Zone fund (either one you create or a traditional one). Then you have two choices; buy a property in one of the zones, or invest in a business in the zone. We’ll focus on the property option.

You have 31 months to purchase your new property, whether it’s multifamily, retail, industrial, or office space. Eventually, you need to invest the same amount of money as the property’s structures (not land!) currently are worth; if the current building is worth $100,000, you need to spend $100,000 remodeling, rebuilding, or otherwise upgrading the building. This means if you buy a property with a structure worth very little, you don’t have to do much to get the tax benefits.

Speaking of benefits, not only is the tax on your original gains deferred until 2026, but if you hold it for seven years, 15 percent of that gain will completely avoid federal capital gains taxes. (You only get 10 percent if you hold it for five years.) And if you hold it for ten years and your new investment appreciates? None of that appreciation is taxable under federal capital gains taxes. This is an opportunity indeed!

There are 102 opportunity zones designated around the Bay Area, including in Oakland, Concord, San Rafael, Santa Rosa, and even San Francisco; visit the SF Business Times’ site for maps and stats about the zones, or contact one of our advisors to find a property that matches your investment goals.

Sources: BizJournals.com, Tax Policy Center

Read our June 25, 2019 newsletter

Know your stuff, show your stuff. Your next deal depends on it.

As a broker, you know you have your work cut out for you in building a qualified prospect list. There are plenty of ways to increase the odds of getting the right people on the list with better segmentation, but there are still the individual details you need to connect with those people.

And just what are those details? Well, start by asking yourself what it takes for a stranger to connect with you. You likely think of a person who asks about your interests and your area of expertise, and who has respect for your time.

Read more from Apto

NAI Northern California Represents Buyer and Seller in $7.34M Sale of Absolute NNN Walgreens in Elk Grove

ELK GROVE, CA – July 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 $7.34 million sale of a Walgreens located in Elk Grove, CA. Vice President, Mary Alam, arranged the sale and represented both the buyer and seller in this off-market transaction.

Mary Alam, who specializes in single and multi-tenant retail investment sales, indicated that this transaction reflects the continued demand for more secure real estate investments in light of negative news surrounding the state of brick and mortar retail.

Drugstores have proven to be among the most successful and stable of retail tenants in this environment. This 10-year-old, long-standing Walgreens purchased at a 5.64% CAP presents itself as a valuable opportunity as an absolute NNN investment providing a stable, trophy asset for investors.

“This acquisition is a great addition to the buyer’s portfolio due to the high credit rating of the tenant, the long-term NNN lease with no landlord responsibilities, and a great location in Elk Grove which has consistently ranked as the fastest growing city in California,” said Alam.

Located on 9200 Elk Grove Florin Road, this property stands on the busy four-way intersection  of Elk Grove Florin Road and Bond Road with easy access to Highway 99. The 14,480 SF drugstore is the only large pharmacy within a one-mile radius and provides ample parking, a double-lane drive-thru window, as well as charging stations for electric and hybrid cars.

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

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NAI Northern California Represents $3.3M Sale of 18-Unit Multifamily Property in Oakland

OAKLAND, CA – July 5, 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 $3.3 million sale of a Highland Terrace sub-market multifamily property.

Principal of NAI Northern California, Grant Chappell, facilitated the off-market transaction for both the buyer and seller. “I worked closely with the seller to deliver a 1031 buyer at a price that nearly set a per/unit record for studio and one-bedroom units in that sub-market,” said Mr. Chappell.

He further explained, “The buyer saw potential to further improve rents given the proximity to Highland Hospital’s recently completed expansion. It was a win-win for both parties. We were able to close in just over 90 days to accommodate 1031 timelines for the buyer and seller.”

Sold at a low 5.15 CAP, the 12,079 square foot property traded at $275.52 price per square foot. The property is 100% occupied which leaves the buyer in an optimal position to capitalize on rents in this prominent area of Oakland.

Located at 2912 14th Avenue directly across from Highland Hospital, the 18-unit multifamily property is minutes from I-580, a senior living facility, and numerous educational organizations. Additionally, the property is just walking distance from the Central Reservoir, the picturesque Sausal Creek and other recreational landmarks.

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

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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

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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

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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

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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

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YOUR ROLE

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