WALNUT CREEK, Calif., May 10, 2013 /PRNewswire/ -- Transwestern today announced it brokered a long-term lease for nearly 16,000 square feet in Concord Gateway, a transaction that will bring Coldwell Banker's Northern California residential real estate headquarters from San Ramon to Concord. The move from the Bishop Ranch Business Park to Concord Gateway puts the office in closer proximity to the many Coldwell Banker employees who live in eastern Contra Costa County.
Transwestern and its client, Sierra Pacific Properties, which developed the 600,000-square-foot office complex on Gateway Boulevard 25 years ago, spent nearly a year in negotiations with Coldwell Banker.
"This was a remarkable development," said Transwestern Senior Vice President Scott Ellis, lead broker on the transaction. "The Bishop Ranch Business Park is a prestigious place. Bishop Ranch also fought hard to keep its tenant. But Sierra Pacific Properties patiently worked through several different proposals to allow Coldwell Banker to build space in a new location."
Joining Ellis in representing Sierra Pacific was Transwestern Vice President Trigger Reital and Vice President Terry Vani, a space-planning specialist. Kirk Beebe of CBRE represented Coldwell Banker.
Concord Gateway is a two-building, 10-story office complex in downtown Concord at 1850 and 1855 Gateway Blvd. Coldwell Banker will move into the Gateway 2 structure, at the 1855 address. With an executive conference center, 24-hour security in each lobby, two on-site restaurants and an executive fitness center, the buildings are located near two Bay Area Rapid Transit (BART) shuttle stops, with immediate access to Interstate 680. They are also within walking distance of Concord's retail and financial amenities.
"This deal scores a big victory for Concord Gateway and the Concord office market," said Ellis. "To secure another tenant from San Ramon is always a big plus."
The privately held Sierra Pacific Properties has been in business for more than 70 years. It is one of the few local property owners – if not the only owner – to have built and retained major office buildings in the area.
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, development, research and sustainability. The fully integrated enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. Transwestern facilitates better decision-making for clients by combining penetrating local market intelligence and macro-market research through its affiliate, Delta Associates. Transwestern has 33 U.S. offices and assists clients through more than 180 offices in 36 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate.
For more information, please visit www.transwestern.net and follow us on Twitter: @Transwestern.