Press Releases
Coldwell Banker Residential Brokerage Lands Prime Office Space in Historic Downtown Petaluma
Basin Street Adds Northern California’s leading brokerage to Theatre District Tenants
PETALUMA, Calif. – January 20, 2005 - Basin Street Properties, the leading developer of commercial and mixed-use properties in Sonoma, Marin and Napa counties, has signed a five-year lease with Coldwell Banker Residential Brokerage in the Bay Area at Basin Street’s Theatre District, the mixed-use retail/residential/commercial development in downtown Petaluma. Coldwell Banker, the leading residential brokerage in Northern California, will occupy 10,000 sq. ft. of office space adjacent to the parking structure late summer 2005.
“One of our most highly valued services to tenants is our ability to accommodate their space requirements as they expand or otherwise change,” said Scott Stranzl, vice president of leasing, Basin Street Properties. “Our portfolio is broad enough that we can meet the needs of both new and current tenants – pairing the right business in the right location. In this case, we paired a residential brokerage firm in the heart of downtown Petaluma where we anticipate substantial expansion as a result of the movie theater, restaurant, and shops that are or will be opening.”
The new space will increase Coldwell Banker’s previous office space by 40 percent. The company plans to expand its sales force and reach a 25 percent growth in customer service by 2005.
“We chose the space for a number of reasons,” said Bill Facendini, Coldwell Banker Marin/Sonoma senior vice president. “It’s an area that is currently undergoing an exciting renovation process. The office is located in a historic part of West Petaluma – one that enjoys close proximity to new retail shops, quality restaurants and is considered a destination spot for much of Sonoma County. Our exposure to the community and to out-of-area clients from this new location will be a big plus for our agents and Coldwell Banker. Furthermore, our new office space demonstrates our commitment to this dynamic region and underscores the tremendous growth that Coldwell Banker has enjoyed in the Sonoma County market.”
About Coldwell Banker Residential Brokerage
Coldwell Banker Residential Brokerage, the largest residential real estate brokerage in Northern California, serves the markets of Sacramento/Tahoe, San Francisco Bay Area and Silicon Valley. The company has 68 office locations and more than 4,600 sales associates throughout Northern California. Through its internationally renowned Coldwell Banker Previews® program, the company is widely recognized for its expertise in the luxury housing market. Coldwell Banker Residential Brokerage is a member of the NRT family of companies. NRT Incorporated, the nation's leading residential real estate brokerage company, is a subsidiary of Cendant Corporation (NYSE: Cendant), one of the world's foremost providers of travel and real estate services. For more information please visit www.CaliforniaMoves.com or call 925.275.3085.
The Theater District is centrally located in Petaluma's historic downtown and offers a new and vibrant destination for residents and workers within the city, throughout the North Bay and beyond. Located in the heart of historic Petaluma, the property boasts waterfront views and a number of retail amenities including a 12-screen movie cinema house. From its open-air plaza, specialty shops and cafés to state-of-the-art office space and amenity-oriented apartments and lofts, The Theatre District is a development unlike any other in the North Bay.
Basin Street Properties is the largest developer and manager of commercial properties in Sonoma, Marin and Napa counties. Founded more than 25 years ago, the company offers a broad range of real estate services to the Northern California Bay Area real estate market, including development, property management, construction management, financial and asset management, and property acquisition and disposition. For more information on Basin Street Properties, please call 707.795.4477 or visit www.basin-street.com.
