127,000 SF Value-Add Industrial
- Acquired February 2021.
- Class A industrial building totaling 127,000 SF on 4.6-acres. Property was purchased off-market via 5-year sale leaseback with owner/occupant BluePrint Studios creating attractive immediate cash flow and long-term retenanting potential at expiration.
- Recently renovated with ESFR, clearspan framing truss with ability to rack 3 high, newly installed dock high and grade level positions to load on all four sides of the building and best in class creative office buildout provides for a truly unique industrial opportunity in the inner SF Bay Area ready for last mile distribution in a supply constrained SF peninsula submarket.
- Located within last industrial zoned area of South San Francisco submarket allowing for high trip count last mile distribution, adjacent to FedEx and Amazon South San Francisco facilities and with several means to ingress/egress close proximate Hwy 101, 380 & 280s. Additionally, walking distance to San San Bruno Bart & San Bruno Caltrain stops.
4.56-Acre Value-Add Industrial Outdoor Storage
- Acquired July 2019.
- 4.56-acre site with two Class B industrial buildings totaling 85,000 SF. Property was purchased from former owner with short-term leaseback.
- Built in 1941, the site benefits from heavy timber interiors, clerestory sash windows that will be positioned as best in class creative industrial space and high visibility from West Seattle Bridge and Interstate 99. Additionally, zoned IG1-85 currently allows for development today up to 85 feet.
- Leased to bus transit service provider TransWest in December 2020. Construction underway to deliver outdoor yard on site including demolition of all existing structures, new paving, lighting, fencing and completion of environmental cleanup of legacy site issue. The tenant also leased adjacent asset 3411 First Ave S and will keep those buildings using that as bus maintenance building and office/driver amenity location.
- Located within SODO submarket within City of Seattle just north of the West Seattle bridge and close proximity to I-99 & I-5, Port of Seattle and downtown Seattle. Long-term the site is well positioned for continued last mile delivery or redevelopment opportunities.
438,000 SF Value-Add Industrial
- Acquired November 2017 with Westbrook Partners.
- Property was 100% leased at acquisition with short-term below market leases in portion of the project and long-term leased to 21st Amendment Brewery as its headquarters. Property rehab and mark to market was completed in 2018. Subsequently sold to Blackstone in June 2019.
- The property was built in 1951 for Kellogg's Frosted Flakes operation and benefits from excellent power/water service and 'creative' industrial character with clerestory windows, barrell roofs and boardform concrete/steel construction. City of San Leandro Ale Trail is planned to connect existing tenant 21st Amendment Brewery to adjacent Drakes Brewery in Westgate property.
- Located in San Leandro submarket adjacent to the Port of Oakland, Oakland Airport, serviced by Rail and access via I-880 Marina exit.
101,000 SF Value-Add Office
- Acquired August 2016 with Westbrook Partners.
- 4-story building that was 100% vacant at time of acquisition.
- Built in 1946 for JC Penny's, the building benefits from boardform concrete frame, timber deck and dramatic center atrium.
- Exterior/Interior renovation plans were completed and in mid construction project was sold in August 2018 on cold shell to Jay Paul Companies (exceeding business plan stabilized value with a proforma tenant in place).
- Located on prominent corner in downtown San Jose adjacent to San Pedro Square retail amenities, VTA light rail and future BART stop. Property offered near-term cash flow with long-term development upside.
33,000 SF Value-Add Industrial Outdoor Storage
- Acquired December 2020.
- 3-Building Class B industrial property totaling 33,000 SF on 0.91-acres. Property was purchased off-market from current foundry owner NW Castings with short-term leaseback.
- Leased in escrow to bus transit service provider TransWest as part of adjacent REDCO 4.56-acre asset at 60 S Spokane. The tenant plans to use the existing structures after selective rehab that is underway and connect to rear yard of 60 S Spokane.
- Built in 1918, the property benefits from heavy timber interior construction with 24-40 ft clear height clearspan warehouse, multiple 10-ton cranes and above market power service of 3500 amps / 3-phase. The property loads off of 3 sides including REDCOs adjacent property 4.56-acre site at 60 S Spokane and has retail like visibility along First Ave S and West Seattle bridge. Additionally, zoned IG1-85 currently allows for development today up to 85 feet providing long-term upside with the 60 S Spokane asset.
- Located within SODO submarket within City of Seattle just north of the West Seattle bridge and close proximity to I-99 & I-5, Port of Seattle and downtown Seattle. Long-term the site is well positioned for continued last mile delivery or redevelopment opportunities.
95,000 SF Value-Add Office
- Acquired July 2019.
- 4-story brick and timber cold storage building with subgrade basement. Property was purchased from cold storage owner off-market with short-term leaseback.
- Built in 1904 as a cold storage and meat smoking plant, the building has been last mile food storage for more than 100+ years. REDCO’s business plan is to decommission cold storage facility and reposition into Class A commercial property taking advantage of irreplaceable location next to Seahawks Stadium, Puget Sound water and downtown Seattle views.
- Located in highly desirable location immediately adjacent to Seattle Seahawks stadium, Pioneer Square, the popular Elysian Brewery and new waterfront park replacing the former I-99 viaduct connecting it to the Ferry Terminal.
41,000 SF Value-Add Industrial
- Acquired December 2020.
- Class B industrial building totaling 41,000 SF on 0.87-acres. Property was purchased off-market from private trust and a new 10-yr blend/extend was executed in escrow with existing tenant O.B. Williams creating attractive immediate cash flow.
- Built in 3-phases between 1907-1920, the property was constructed for current tenant O.B. Williams (see historic photos at bottom) that has been in SODO for over 100+ years in operation including the the adjacent structure to the south currently occupied by Macrina Bakery. The property loads off of 2 sides and has retail like visibility along First Ave S between Pioneer Square and the Starbucks HQ. Additionally, zoned IG1-85 currently allows for development today up to 85 feet providing long-term upside.
- Located within SODO submarket within City of Seattle between Pioneer Square and Starbucks Headquarters along First Ave S and close proximity to I-99 & I-5, Port of Seattle and downtown Seattle. Long-term the site is well positioned for continued last mile delivery or redevelopment opportunities.
24,000 SF Value-Add Office
- Acquired May 2015 with private investors.
- 3-story building that was 100% vacant at time of acquisition.
- Exterior facade renovation and market ready improvements completed.
- Leased to tech company Wrike (Wrike.com) and won Silicon Valley Business Journal’s Structures Award for Rehab of the Year in 2018. Property was sold in 2018.
- Located in downtown San Jose adjacent to San Pedro Square retail amenities and new residential projects.
82,000 SF Value-Add Office
- Acquired September 2015 with Blackbird Investment Group & Acre Valley Real Estate Capital LLC.
- 3-story building purchased out of receivership and was 100% vacant at time of acquisition.
- Built in 1929 as Boeing's original HQ, Plant 1 benefits from brick and beam construction, sash windows and exposed ceilings.
- Leased to the Seattle Mart, an association of wholesale showroom tenants and sold in 2017.
- Located in Georgetown neighborhood of Seattle with close proximity to amenities and direct visibility from Highway 99.
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149,000 SF Value-Add Industrial
- Acquired February 2016 with Morgan Stanley.
- Property was 100% vacant prior to putting into escrow. An 8-year lease was secured with a credit tenant prior to closing escrow and capitalized in Morgan Stanley's Prime Property Fund to own indefinitely.
- The building benefits from substantial recent capital improvements including ESFR, T5 lighting, new office pod, Seismic Retrofit,
- 1600 AMPs power and secure rear/side yard.
- Located in desirable Huntwood Business Park with close proximity to Port of Oakland, Oakland Airport and I-880.
32,000 SF Value-Add Office
- Acquired August 2016 with Westbrook Partners.
- 2-story multi-tenant building with ground floor retail and upstairs office formerly occupied by seller Saratoga Capital.
- Historic landmark built in the 1880s, with tall ceiling heights, skylights, exposed brick and beam construction. Leased two difficult retail spaces that had been vacant for 10+ years and sold in 2018 to high net worth investor.
- Located on prominent corner in downtown San Jose adjacent to San Pedro Square retail amenities, VTA light rail and future BART stop.
23,000 SF Value-Add Office/R&D
- Acquired July 2016 with Blackbird Investment Group & Acre Valley Real Estate Capital LLC.
- 2-story building was occupied by the Seller and a new 7-year lease was secured prior to closing escrow bringing occupancy to 100% percent. Property was sold in June 2018.
- With tall exposed structural steel ceilings, abundant natural light, radiant heated polished concrete floors and outdoor patio amenity space, Berkeley Brass is a bullseye for desired creative office space. The land site at 2619 7th Street provides opportunity for future development.
- Located in West Berkeley with close proximity to the Berkeley Bowl and surrounding Fourth Street retail amenities.
21 Room Ground-Up Hotel
- Acquired land in 1988 with private investors and completed construction in 1989 with complex sand/soil conditions.
- Property was sold in 1990 as very successful project execution and was Robert E. Daniels last project before retiring.
- Located directly on the beach at the end of Seaward Avenue, the Inn on the Beach truly is a best-in-class Bed & Breakfast hotel in Ventura still in operation today.
6,500 SF Value-Add Office
- Acquired July 2019 with private investors.
- Property was 100% leased at time of acquisition with several tenants with below market leases that roll in the near term of hold period. Business plan is through selective capital to reposition to maximize long-term cash flow of the asset in an irreplaceable Palo Alto location. Sold February 2022 to private buyer.
- Located in Midtown Palo Alto between Embarcadero and Oregon Expressway surrounding by retail amenities and restaurants with easy access to Hwy 101, Hwy 280 and California Ave Caltrain / retail cores. Additionally, the building is next door to Midtown Realty Company that was founded by Silicon Valley real estate tycoons John Sobrato and Carl Berg before starting their respective separate firms, The Sobrato Organization and Mission West.
