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Somera Capital - San Francisco
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LOCATION: 123 Townsend, San Francisco, CA
SIZE: 180,000 sf
PROJECT TEAM:
Stephen Leider
ASSIGNMENT:
Converted this 180,000 sf warehouse South of Market into office space and leased it to E Trade. Leider also brought the equity capital to the project.
ADDITIONAL ASSIGNMENTS:
The firm represented Somera Capital Management (SCM) in the investment sale of La Cumbre Plaza in 2004 after also representing them in the original acquisition in 2002. The shopping center was first built by the Hahn Company in the 1960's and the property is located on six different ground leases with different owners. SCM is real estate investment firm that was representing Madison Marquette.
Agents also located, entitled, and built four Rite Aids in Arroyo Grande, two locations in Fresno, and Porterville. The deal involved securing entitlements, completing the lease negotiations, and selling the properties. Somera Capital provided equity capital to complete the project.
Hayes and DeJohn were hired to negotiate the leasing of a 60,000 sf office development project on Calle Real in Santa Barbara for SCM. The team secured a 10-year lease to Fidelity National Title for a total lease value of $13 million.
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