Press Releases
Wells Fargo Home Mortgage Sets Up House at Two Basin Street Properties:
Redwood Business Park and Napa Valley Gateway
PETALUMA, Calif. – April 11, 2005 - Basin Street Properties, the leading developer of commercial and mixed-use properties in Sonoma, Marin and Napa counties, has signed two leases with Wells Fargo Home Mortgage: one for 2,524 sq. ft. of office space at Redwood Business Park for a term of three years, which commenced in January; and the other for 2,318 sq. ft. at Napa Valley Gateway, also for three years, which is scheduled to commence May 1.
“Wells Fargo Home Mortgage had two very different space needs,” said Scott Stranzl, vice president of leasing, Basin Street Properties. “This situation illustrates how Basin Street’s expanding portfolio is able to serve tenants’ needs, both in terms of space requirements and location. Providing tenants in the North Bay with exactly what they want, where they want it is what we do best – and what we enjoy most.”
“Redwood Business Park used to be entirely a telecom or tech hub for businesses,” continued Stranzl. “And while it still has tenants within those industries, it’s exciting for us to see a growing diversity as new companies move in. Wells Fargo Home Mortgage adds perfectly to that tenant mix.”
In the Napa Valley Gateway transaction, Bill Kampton of Colliers International represented Wells Fargo Home Mortgage, and Matt Bracco with Cushman & Wakefield represented Basin Street Properties. No brokers were involved in the Redwood Business Park transaction.
Wells Fargo (NYSE: WFC) is a diversified financial services company — providing banking, insurance, investments, mortgage and consumer finance from 6,000+ stores, the internet and other distribution channels across North America and elsewhere internationally. Headquartered in San Francisco, Wells Fargo Home Mortgage has a number of mortgage branches serving Sonoma County.
Redwood Business Park is a 1,100,000-sq.-ft. office campus facility with 30 buildings ranging from one to four stories in the heart of Telecom Valley. The park is home to many of Telecom Valley’s leading companies, including Cisco, Advanced Fibre Communications, Alcatel, Turin Networks, Intelisys and Merrimak Capital. Making the park’s location especially attractive to employees is its proximity to restaurants, a retail center, banking, public transit and day care facilities.
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.
