Press Releases
Basin Street Properties Gives Local Economy a Boost with the Addition
of Three New Tenants in the Heart of Petaluma’s Coveted Theatre District
Arcadis US, Alaris Companies and Tangram Insurance Services to Occupy 15,000 Sq. Ft. at Theatre Square; Deals to Bring Nearly 100 New Employees to Downtown Petaluma
PETALUMA, Calif., June 16, 2008 – Basin Street Properties, a prominent Northern California and Northern Nevada real estate investor of commercial and mixed-use properties, attracted three new tenants to Petaluma’s thriving Theatre District. The arrival of Arcadis US, Inc., Alaris Companies LLC and Tangram Insurance Services, Inc. will infuse the region with nearly 100 new employees occupying a combined total of 15,000 sq. ft. of Class “A” office space at Theatre Square located at 140 Second Street. Theatre Square is a three-story mixed use project located at the corner of Petaluma Boulevard and D Street.
“These recent deals are indicative of the draw that the Theatre District continues to have on such diverse tenants as Arcadis, Alaris and Tangram and underscores the appeal of the area’s numerous amenities, including its high profile location and proximity to other local businesses and retail outlets,” said Scott Stranzl, vice president of leasing for Basin Street Properties. “We anticipate that Theatre Square will see a number of additional office and retail deals take place in the coming months.”
Arcadis US, an international consulting and engineering company, has signed a five year lease for 8,084 sq. ft of office space, to commence on September 1, 2008. The company, previously located in South Petaluma, will relocate its operations to the heart of the Theatre District. Basin Street was represented by Sean Heaton and Josh Lindberg of Cushman & Wakefield. Arcadis US was represented by Dave Linsmayer of The Staubach Company.
Alaris Companies LLC is a US-based, woman-owned marine services provider offering customized ship management, maritime staffing, vessel crewing, marine engineering and project management solutions to maritime and related industries, worldwide. The company signed a three year lease deal, effective September 1, 2008 and will be relocating from 765 Baywood Drive to 2,956 sq. ft. of premier office space at 140 Second Street. Basin Street represented itself in the deal while Matt Brown of NAI BT Commercial represented Alaris.
Tangram Insurance Services is a full service managing general underwriter and alternative risk program manager. The company specializes in the development and management of traditional and alternative risk programs for groups and individual risks, and it has extensive experience developing and implementing captive, rent-a-captive and self-insured programs for groups, brokers and single entity risks. Tangram will occupy 4,034 sq. ft. of office space for five years, effective September 1, 2008. Brokers on the deal included Josh Lindberg and Sean Heaton of Cushman & Wakefield. Basin Street represented itself.
“We are excited to relocate to the Theatre District. This move will be a great fit for our company and employees. The downtown Petaluma location, with nearby shops, restaurants and other business services as well as accessibility to the freeway are the kinds of amenities we look for in an effort to provide a great working environment for our employees, while also offering convenient access for our clients,” said John Shea, CPCU, president of Tangram Insurance Services.
Theatre Square is located immediately across from the Boulevard Cinemas in the heart of the Theatre District. The first floors consist of commercial space, while a portion of the second and third floors consist of 24,000 sq. ft. of office space and 56 apartments ranging in size from one to three bedrooms. The project is served by a 530-stall parking garage directly across the street, as well as on-street parking located along 2nd and C Streets and features a pedestrian-friendly environment, open-air plaza with café seating and fountain, and is in close proximity to the Petaluma River.
Basin Street Properties, headquartered in Petaluma, Calif., is one of Northern California’s and Northern Nevada’s prominent developers, investors and managers of commercial properties. Basin Street has become widely recognized for its office, retail and mixed use developments. Founded more than 30 years ago, the company offers a broad range of real estate services, including development, property management, construction management, financial and asset management, and property acquisition and disposition. For more information on Basin Street Properties, please call 775.329.4131 or visit www.basin-street.com.
