FOR SALE San Marin Business Park Areas D1, & E2 Novato, California Unique Marin County Office Development Opportunity Exclusive Listing Agents: Haden Ongaro hongaro@ngkf.com 415.526.7649 CA RE License #00916960 Brian Eisberg beisberg@ngkf.com 415.526.7647 CA RE License #00676059 Mark Carrington mcarrington@ngkf.com 415.526.7650 CA RE License #01219528
San Marin Business Park, Novato Location Benefits Market Factors San Marin Business Park provides a unique opportunity to develop freeway visible office improvements in a rapidly tightening Marin County office market. The available development site at San Marin Business Park provides a new owner with the following benefits: Spectacular freeway visible location. Convenient access from regional labor pools Close proximity to Novato/San Marin SMART Rail station. Declining maket vacancy and rising rental rates under additional pressure from strong regional growth in office-using employment and rent growth. City support for office development on the sites. Surging local market driver - life sciences - will benefit from location adjacent to research facilities at Buck Institute. Major net absorption and steep rent growth in San Francisco is putting enormous pressure on tenants in that market. Marin County asking rental rates have climbed significantly in the past 18 months. Very few spaces over 10,000 square feet are available in Marin County except for spaces with large bay depths in outdated, obsolescent, former single tenant buildings. Novato is the epicenter for the development of orphan drugs. Companies such as BioMarin, Ultragenyx and Raptor Pharmaceutical have absorbed well over half a million square feet in Marin County in the past 3 years and forecast continued rapid growth. Biotech is booming Bay-Area wide and some biotech hub submarkets now have vacancy rates well below 2%. Net rents well in excess of $3.50 are being achieved in most competing Bay Area Life Sciences markets.
San Marin Business Park, Novato Location San Marin Business Park enjoys easy access and high visibility from U.S. Highway, the major transportation corridor in the North Bay region. San Marin Business Park is located within one eight of one mile of the new Novato/San Marin SMART rail station, the first SMART station within Marin County. The Santa Rosa to San Rafael section of SMART started service in 2017 and will extend to the Larkspur Landing to San Francisco Ferry terminal in 2019. The Buck Institute for Research on Aging, designed by world renowned architect I. M. Pei, adjoining San Marin Business Park. Novato s rapidly growing Life Sciences sector is taking full advantage of the opportunity to lease spectacular and fully equipped lab space at the The Buck avoiding massive startup costs. The North Bay Life Sciences Alliance, spearheaded by the City of Novato, is actively marketing Novato nationwide as a home for Life Science companies. Firemans Fund HQ 700,000 sf A 100 Wood Hollow 120,000 sf Biomarin is major tenant. Not a part Atherton Place 50 Townhomes Downtown Novato B Buck Institute Planned Office 25,000 sf Not a part riv e Approved 87 room Hyatt Hotel in Mar San D Redwo o d Boulevard C D1 D1 E2 Birkenstock Distributing A e Av en u Novato/San Marin on E 7711 Redwood Blvd Approved 80 Townhome Units Not a part of Offering At he rt E SMART RAIL LIN
San Marin Business Park, Novato Property Attributes San Marin Business Park consists of two areas including the following attributes: Areas D1//E2 (APN# 125-180-32) $7,500,000 ($4.53/sf or $30.61/buildable square foot) Area D1 Approximately 25,000 square feet on 5 acres Area Approximately 170,000 square feet on 26 acres Area E2 Approximately 50,000 square feet on 7 acres Located on the corner of Redwood Boulevard and Black John Road with significant freeway frontage and visibility. The Buck Institute for Research on Aging D1 D1 E2 Not a Part of Offering The distributor of this communication is performing acts for which a real estate license is required. The information contained herein has been obtained from sources deemed reliable but has not been verified and no guarantee, warranty or representation, either express or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice. 09.2018.
Convenient Bay Area Location San Marin Business Park Opportunities for large, contiguous, office spaces are becoming very rare in the Bay Area. One million square feet of office space, located within 5 minutes of a light rail station is potentially available in and immediately surrounding San Marin Business Park This location provides tenants with the ability to recruit high quality employees from Sonoma and Solano Counties via and CA 37, and SMART Rail with the ability to save hours per week in commute time. Rents required to generate a significant return on investment are extremely competitive relative to many Bay Area markets, particularly in competing Life Sciences clusters. Haden Ongaro For additional information, please contact hongaro@ngkf.com Exclusive Listing Agents: 415.526.7649 CA RE License #00916960 Brian Eisberg beisberg@ngkf.com 415.526.7647 CA RE License #00676059 Mark Carrington mcarrington@ngkf.com 415.526.7650 CA RE License #01219528 1 Fifth Avenue, Suite 230, San Rafael, CA 94901 415.526.7676 www.ngkf.com