Prometheus Executes Over 75,000 Square Feet of Lease Transactions in Walnut Creek

SAN MATEO, Calif., March 8 /PRNewswire/ -- Despite a weak leasing environment, Prometheus Real Estate Group has recently executed over 75,000 square feet of lease transactions at its Civic Executive Center in Walnut Creek.  Located at 201 North Civic Drive, the building is now 96% occupied, a notable accomplishment in a market with over a 20% vacancy rate.  

The most significant deal was the 56,168 square foot, 10 year renewal of Brown and Caldwell, a leading environmental engineering and consulting firm.  Dean Panfili of Cushman & Wakefield represented the tenant while Prometheus was represented by Penni Burgess.  "We are proud of the relationship we have formed with Brown and Caldwell and are thrilled to have them as a long term tenant in our building.  We look forward to developing similar partnerships with the new companies we are welcoming to the project while continuing to serve the needs of our existing tenants," said Brett Miles, Commercial Asset Manager for Prometheus.

Prometheus also completed a lease extension with Liberty Mutual for 3,328 square feet and an expansion with Alamo Capital for 3,381 square feet.  Other recent activity includes deals with the Law Offices of Donnelly, Nelson, Depolo & Murray for 7,087 square feet and with HF&H, an environmental consulting firm, for 5,113 square feet.  Ed Del Beccaro and Jeff Weil of Colliers International represented the tenants in these transactions while Tom Fehr and Alex Grell represented Prometheus.  

"We are thankful for the recent business with Colliers and appreciate the quality of service that Cornish & Carey has consistently delivered as our listing broker.  In this difficult market it will be crucial to work closely with the brokerage community to get things done and we are excited about that opportunity," said Miles.

Civic Executive Center also recently achieved the Energy Star Certification, which symbolizes Prometheus' effort to be environmentally conscious throughout its portfolio.  

About Prometheus

Prometheus Real Estate Group is the largest private owner of multi-family properties in the San Francisco Bay Area with a growing portfolio of more than 18,000 metropolitan-area apartments in the Bay Area, Seattle, Portland, Ore., and Los Angeles communities. Since its inception in 1965, Prometheus has specialized in the acquisition, development and management of high quality residential and commercial properties throughout the Western United States. Prometheus has a long history of award-winning approaches to development, management and general excellence. Recognition in 2009 includes six prestigious awards: two National Association of Home Builders (NAHB) awards, one Action for Beauty Award, one Best in California Landscapes Award and one Bay Area Green Business Award. For more information, visit http://prometheusreg.com.

**Photo Available Upon Request**

SOURCE Prometheus Real Estate Group