Press Releases
Basin Street Town Center Makes Lots of “Cents” to First Community Bank
Basin Street Adds Residential Mortgage Lender to Downtown Petaluma Property
PETALUMA, Calif. – February 2, 2005 - Basin Street Properties, the leading developer of commercial and mixed-use properties in Sonoma, Marin and Napa counties, has signed a nine-year lease with First Community Bank at Basin Street Town Center – the mixed-use retail/commercial development in downtown Petaluma. First Community Bank will occupy 3,142 sq. ft. of office space beginning March 1, 2005.
“We’re developing a good mix of retail and service offerings within the Town Center,” said Scott Stranzl, vice president of leasing, Basin Street Properties. “We are happy to welcome First Community Bank to the property, and we’re sure the bank’s downtown location will offer convenience to all who visit historic Petaluma.”
The new space will increase First Community Bank’s presence in Sonoma County. The bank has one other branch, centrally located in Santa Rosa.
“We chose this location as a reflection of the growing Petaluma downtown area,” said bank director Steve McCullagh. “We are very excited about the location because of the close proximity to many other dynamic businesses, including the new theater. You can really feel a tremendous amount of energy with all the expansion in the area, and we look forward to being an integral part of the business community and recognized for being a leader in supporting the economic success of Petaluma.”
First Community Bank was organized by real estate developer William Gallaher, a former director of Sonoma National Bank for 13 years. Besides the new location in Petaluma, other branches are located in Santa Rosa and Oakmont (March 2005). First Community Bank specializes in commercial real estate lending, construction lending and business lending including SBA loans. A locally-owned business, the company’s first goal is to serve and support the business of Sonoma County by bringing the true meaning of community banking back to Sonoma County.
Basin Street Town Center, located at 34 Petaluma Blvd., is a one-story, mixed-use building, made up of 16,000 sq. ft. of retail and service retail space. The retrofitted historic building is situated in a highly visible location with high foot traffic and on-site parking. With direct access to public transit, restaurants, shops, banks and other commercial services, Basin Street Town Center is an urban redevelopment property.
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.
