SAN FRANCISCO – [August 19, 2024] – DivcoWest, a vertically-integrated real estate company headquartered at the heart of Silicon Valley, reaffirmed its commitment to bringing innovative solutions to customers, partners, and investors through a series of investments into cutting-edge AI companies poised to transform real estate and construction.

Made through DivcoWest Ventures, a unit of the firm focused on early- and growth-stage technology companies with the potential to shape the future of the urban environment, these investments underscore DivcoWest’s continued efforts to invest in, and adopt, technology which enhances its unique platform and benefits the entire real estate ecosystem.

Just last week, DivcoWest Ventures reinvested in its portfolio company EliseAI, as part of a $75M Series D fundraise. EliseAI is the largest and most advanced conversational AI platform in the residential real estate industry. The company’s automation tools manage communications 24 hours a day, seven days a week between potential and current renters across multiple channels (such as, SMS, email, phone, and webchat) and automates property workflows.

DivcoWest Ventures’ recent investments also include:

• Field Materials is an AI procurement platform for contractors to control and verify construction material and equipment spending. Its web and mobile apps streamline material purchasing and equipment rentals by eliminating manual data entry for quotes, invoices, packing slips, and receipts, and saving 5-10% in material costs by automatically identifying billing errors.
• Flexnode is a leading-edge digital infrastructure company reimagining the built environment through bespoke and immersive design, efficient DFMA-centric construction, and advanced operation of high performance, liquid cooling-enabled micro data centers.

Commenting on the recent investments, Breton Birkhofer, Managing Director, said: “These investments represent our unwavering commitment to embracing AI and its transformational potential in the real estate sector. By supporting these companies, we’re not just investing in valuable technology – we are investing in a more successful and sustainable future for our industry. As AI continues to evolve, we are excited to invest in and nurture the most promising technologies that can benefit the communities we serve.”

DivcoWest Ventures has previously invested in more than two dozen proptech and climate tech companies operating in the U.S. and Canada. These portfolio companies include Matterport, an AI-driven spatial data company which allows users to easily create digital twins of assets in the built world, and Metropolis, an AI and computer vision startup built to modernize the parking experience by enabling “checkout-free” payment for drivers and revenue-generating operations for real estate owners.

For more on DivcoWest Ventures, see: https://divcowest.com/ventures/

 

About DivcoWest  

Founded in 1993 by Stuart Shiff, DivcoWest is a vertically integrated, real estate investment firm headquartered in San Francisco, with offices in Cambridge, Los Angeles, Menlo Park, Washington DC, Austin, and New York City. Known for long-standing relationships and experience across the risk-spectrum in innovation markets, DivcoWest combines entrepreneurial spirit with an institutional approach to commercial real estate. DivcoWest aims to create environments that inspire ingenuity, promote growth, and enhance health and well-being. Since inception, DivcoWest and its predecessor have acquired approximately 61 million square feet of commercial space – primarily throughout the United States. DivcoWest’s real estate portfolio currently includes existing and development properties in the office, R&D, lab, industrial, retail, and multifamily spaces. www.divcowest.com

San Diego – June 27, 2024 – DivcoWest, a DivCore Capital company, and its partner Ocean West Capital Partners LLC, announced that the Conrad Prebys Foundation, a $1.2 billion San Diego-based nonprofit, signed a lease for a full floor at Kettner & Ash, in the heart of San Diego’s Little Italy neighborhood. Derek Hulse and Morgan Reno of Cushman & Wakefield represented the landlord.

Kettner & Ash is a 123,000 s.f. fully modernized midrise office building at 1420 Kettner Boulevard. DivcoWest and Ocean West purchased the building in late 2017, becoming only the second owners in the last 63 years. They immediately began an extensive Gensler-designed renovation including a contemporary façade with an energy-efficient clear glass wall curtain.

Prebys Foundation is the sixth tenant to call the building home under the new owners. In October 2018, co-working specialist Spaces signed a long-term lease for three floors totaling 43,540 s.f. Boston-based general contractor Suffolk Construction, HR software provider Paycom, national architect Perkins & Will, and Birdrock Coffee Roasters have also signed.

Kettner & Ash is in an attractive location for tenants as it sits in the popular Little Italy neighborhood and is surrounded by restaurants, cafes, and other lifestyle amenities. The building itself features a large atrium-style lobby with a 5-story LED screen displaying digital artwork. Kettner & Ash also offers tenants an expansive event patio on the third floor with indoor and outdoor seating, entertainment space, and a dedicated kitchen. The building provides tenants with spa-quality locker rooms with showers.

Andreessen Horowitz (a16z) will benefit from new amenities and improvements implemented at SHC over the last 4 years.

Menlo Park, CA – [June 26, 2024] – Sand Hill Road is more than a roadway; it has been the epicenter of venture capital and innovation since visionary developer Tom Ford established it more than 50 years ago. The Sand Hill Collection (SHC), comprising 48 acres and three distinct campuses, is the pinnacle of workplace destinations on this legendary road, thanks to the long-term vision and investment capital of owner, DivcoWest.

Andreessen Horowitz, also known as a16z, leased 34,390 square feet of newly redeveloped space at 2400-2450 Sand Hill Road in The Quad, one of three campuses within the Sand Hill Collection, which also includes The Ranch and The Grove. The buildings are currently being tailored through tenant improvements, with plans to move in sometime in 2026.

“We are thrilled to welcome a16z. Their innovative approach to investing in the future makes them the perfect addition to SHC’s community of forward-thinkers and trailblazers,’ said Gregg Walker, President of DivcoWest Real Estate Asset Management (DREAM). “We believe that a16z will not only enrich SHC’s vibrant community but also reinforce the Sand Hill Collection as a hub for transformative ideas and dynamic partnerships.”

A Campus Within a Campus

The two newly constructed two-story buildings leased to a16z were designed to deliver a “campus within a campus” experience. The design seamlessly integrates indoor and outdoor spaces, connected by a spacious private courtyard and featuring lush outdoor patios. This setup offers a16z options for al fresco work, meetings, and events.

In addition, the interiors of the buildings have been thoughtfully redesigned to allow for customizable workspaces that are filled with natural light and offer flexibility with a variety of areas for collaboration.

SHC Member Benefits

As a newly minted member of the Sand Hill Collection, a16z will enjoy all the benefits SHC provides across 3 hospitality-driven campuses. This includes access to the Sand Hill Kitchen, a farm-to-table restaurant at The Quad and the recently opened Sand Hill Sundeck at The Ranch, a multi-faceted restaurant that features a full-service modern eatery, a gourmet delicatessen and market, and a large sun deck for happy hours and social gatherings. Members also enjoy access to 3 newly renovated fitness centers, complimentary personal training sessions, and a variety of classes including yoga and boot camp. The health and wellness amenities continue with numerous walking, biking and running trails meandering through the 48-acre community which also includes an outdoor basketball court.

“DivcoWest’s vision for the Sand Hill Collection goes beyond traditional office space. Inspired by hospitality-driven environments, our focus is on creating a workplace promoting well-being, innovation, and collaboration. This human-centric approach is evident in every facet of the offerings we provide from the array of on-site eateries and social spaces to the workspaces themselves. We continue to find new ways to expand on the amenities and services that cater to our members,” Walker says.

DivcoWest acquired the 26 buildings that now make up Sand Hill Collection in two transactions in 2011 and 2020. The Collection represents approximately 45% of the total office inventory on Sand Hill Road, a stretch of road that cuts through Menlo Park, Palo Alto and Woodside and is home to several leading firms in the global economy. SHC offers full building spaces suitable for headquarters locations as well as smaller suites suitable as satellite or executive offices.

a16z was represented by brokers Hugh Scott and Derek Johnson of JLL in negotiating their lease. Christian Prelle, Brad Van Linge, Sarah Bohannon, and Clayton Jones of Newmark represented DivcoWest.

The latest restaurant addition to DivcoWest’s Sand Hill Collection  pays homage to the past and offers a fusion of signature northern Californian dishes, reimagined pizza and deli classics, and sun-filled happy hours. 

Menlo Park, CA (June 21, 2024) – San Francisco-based DivcoWest, a DivCore Capital Company, in partnership with Bon Appétit Management Company, is proud to announce the opening of Sand Hill Sundeck, a new multi-faceted restaurant concept located in the heart of The Ranch campus within the Sand Hill Collection (“SHC”). Set high on the crest of Sand Hill Road, and unlike any other restaurant in the area, the Sand Hill Sundeck pays tribute to the original Sundeck restaurant on Sand Hill Road by Tom Ford, a central figure in the emergence of Menlo Park as the center of Silicon Valley investment capital and delivers a modern and sophisticated dining experience. Guests at the Sundeck will experience a new menu that draws inspiration from the classic traditions of an East Coast delicatessen with San Francisco’s iconic Italian North Beach favorites. 

Originally a power lunch spot of the 70s for entrepreneurs and venture capitalists, the reimagined Sand Hill Sundeck today delivers three distinct experiences in the same premier location at 3000 Sand Hill Road including a full-service modern eatery with an elevated lunch menu drawing inspiration from the Bay Area’s seasonal ingredients, a gourmet deli and boutique market for on-the-go options, and for those who want to enjoy the beautiful California weather, a large sun deck that will be the perfect spot for happy hours, lunches to go, and social gatherings.  

As you enter Sand Hill Sundeck you are greeted by a laid back, yet upscale, New York deli style counter and market with California affluence where you can order to go artisanal sandwiches made with premium meats and cheeses, hand-tossed pizzas, farm-to-table composed salads, and gourmet goods. The interior seamlessly makes its way to a seated dine-in area touting modern luxury and offers an ideal place for business lunches and casual get togethers with homemade pastas and pizzas, thoughtfully composed sandwiches, small plates, and more. The spacious outdoor deck, its namesake, welcomes a relaxed vibe with a fire pit and seating areas to soak up the Bay Area sunshine and enjoy a variety of signature dishes, craft beers, and a selection of fine wines. 

“We’re excited to bring this new concept to Menlo Park,” said DivcoWest’s Associate Director of Brand Experience, Marina Encinias. “The Sundeck has a great history and we wanted to preserve that while creating a new and special space where people could gather for any occasion, whether it’s a private business lunch, a quick snack, or a leisurely happy hour with friends. This creative combination of offerings is unique to the area and positions the Sand Hill Sundeck at SHC as a sought-after destination for those near and far.” 

DivcoWest has once again partnered with the award-winning food service provider, Bon Appétit Management Company, and Culinary Director Nicolai Tuban, who also oversees culinary operations at Sand Hill Kitchen at SHC, to deliver another great offering within the Sand Hill Collection. Together, the teams developed the culinary vision for the Sand Hill Sundeck, inspired by the variety and nostalgia of the NY market deli experience, the exclusivity and upscale feel of a supper club, and the chill California vibe of the outdoors.  

“What I want to bring to Sand Hill Road with the Sundeck is that delicious, exploratory energy of the deli while using the world’s pantry in a really creative way,” says Tuban. “I want you to be able to see the ingredients and what we’re doing, want you to be able to see the chefs cooking on the line, want you to see people slicing prosciutto. Then you can take that perfect creation out to the patio and enjoy it in the incomparable California sun. The Sand Hill Sundeck is a celebration of the Bay Area, from a Bay Area guy.” 

 

Culinary Director Nicolai Tuban shares his vision of Sand Hill Sundeck. 

The fresh and innovative menu will feature composed salads, sandwiches, house-made pastas & pizzas, and farm-to-fork entrées, including reimagined classic deli favorites including: 

House-made Pastrami with western Chinese spice, hot mustard, on rye
As a Reuben with Swiss, carrot kraut & black garlic Russian dressing
 
Mortadella with burrata, arugula, pistachio pesto, peppers, on focaccia
 
Melted Artichoke Pappardelle with lots of lemon, makrut lime,
garlic confit & pecorino fonduta
 
Lamb Burger with western Chinese spice, whipped feta, coriander,
ginger slaw, ma la, & house chips
 
San Gregoria Pizza with molinari coppa, fingerling potato, pistachio pesto, & sweet peppers
 
Baby Kale Caesar Salad with caper & pecorino dressing, dried lemon, frico, & rye crouton
 
Matzah-Masa Ball Soup with chicken & chile de arbol broth, carrot, dill & cilantro 

Sand Hill Sundeck is located within The Ranch at the Sand Hill Collection at 3000 Sand Hill Road in Menlo Park and will welcome the public from Monday through Friday from 8:00 am to 7:00 pm for coffee service, lunch, and happy hour. 

  

To learn more, visit sandhillsundeck.com or follow along on Instagram @sandhillsundeck. 

High-resolution imagery is available here. Credit for all photos: Michelle K. Min. 

5250 Lankershim, acquired 60% leased by DivcoWest in 2021 and renovated in a weak market, now stands 92% occupied with a strong, synergistic tenant base

LOS ANGELES, CA – May 7, 2024 – 5250 Lankershim, a 9-story, LEED Gold office building in the heart of the North Hollywood Arts District, is an example of how committed owners working with innovative landlord advisory teams can buck the trend of recent years and build leasing momentum.

DivcoWest, a DivCore Capital company, acquired the building in 2021 with 50,000 s.f. of vacancy in the 180,000 s.f. building. Partnering with Colliers, DivcoWest immediately began renovating the building’s common areas, inside and out, to create a hospitality-driven workplace destination with a welcoming indoor and outdoor environment that today’s tenants and employees desire. Through a thoughtful design approach, the team infused natural sunlight and open air into the lobby and used inviting soft seating and gathering spaces to create a relaxed, comfortable environment.

The improvements have quickly paid off. Recently, Chase Bank brought total occupancy to 92% by signing a lease for 5,500 s.f. on the ground floor. Chase followed Zeus Networks, an over-the-top streaming video subscription service; SameSky Health, a cultural experience company aiding health plans to engage with their patient audiences; and the LA campuses of Syracuse University’s S.I. Newhouse School of Public Communications and College of Visual and Performing Arts, into the revamped 5250 Lankershim.

DivcoWest and the leasing team from Colliers also created a separate ground floor entrance to accommodate clients visiting Kaiser Permanente, effectively providing a building within a building.

“We felt it important to be proactive in positioning 5250 Lankershim as a building where tenants and their employees would feel at home so creating a sense of place with a hospitality vibe was very important to us,” says Jared Crowley, DivcoWest. “This included the extensive improvements, the personal approach we took to prospective tenants and the service tenants receive from our property management team,” he added.

According to Anneke Greco of Colliers, “We were in lock-step with DivcoWest on making tours of the available spaces as experiential and personalized as possible and we received fantastic responses from prospective tenants.”

The personal touch carries on through building management. “Property manager James McIntyre is an integral part of what makes 5250 Lankershim stand out from other North Hollywood buildings,” says Crowley. “He is very responsive and tenant-focused, and he’s backed up by a tenant concierge to assist tenants whenever and wherever they need it. 5250 Lankershim really has the feel of a workplace hotel rather than an office building,” he added.

About DivcoWest
Founded in 1993 by Stuart Shiff, DivcoWest, a DivCore Capital company, is a vertically integrated real estate investment firm headquartered in San Francisco, with offices in Austin, Cambridge, Los Angeles, Menlo Park, Washington DC, and New York City. Known for long-standing relationships and experience across the risk-spectrum in innovation markets, DivcoWest combines entrepreneurial spirit with an institutional approach to commercial real estate. DivcoWest aims to create environments that inspire ingenuity, promote growth, and enhance health and well-being. Since inception, DivcoWest and its predecessor have acquired approximately 61 million square feet of commercial space – primarily throughout the United States. DivcoWest’s real estate portfolio currently includes existing and development properties in the office, R&D, lab, industrial, retail, and multifamily spaces. www.divcowest.com

Scheduled to open in 2025, the 48-story office building is nearly 50% leased.

AUSTIN, TEXAS (April 29, 2024) – Co-developers Lincoln Property Company (LPC), Phoenix Property Company and DivcoWest are pleased to announce that the international law firm O’Melveny & Myers LLP has signed a lease at The Republic, a 48-story office tower under construction in downtown Austin. The state-of-the-art tower broke ground in 2022 and is now nearly 50% leased, more than a year before it is scheduled to open in mid-2025.

O’Melveny is a premier global law firm with more than 800 lawyers in 18 offices across three continents. The Los Angeles-founded firm opened its first Texas office in Austin in 2021 and has continued to expand in Austin, Dallas, and Houston.

“O’Melveny is continuing to expand our presence in the Texas market, and we’re delighted by the welcome we’ve received in the Lone Star State,” said Teresa Doremus, O’Melveny’s Managing Director of Global Operations and Real Estate. “Our new, modern, 28,000-square-foot space in The Republic will both accommodate our current Austin team and provide us with needed space for our anticipated growth.”

O’Melveny is the second global law firm to sign a lease in The Republic.

Kirkland & Ellis LLP has committed to occupy 137,000 square feet. Additionally, Austin-based Vista Equity Partners has leased 200,000 square feet.

“National and global professional services firms continue to expand in Austin, and The Republic provides the marquee location and best-in-class amenities these companies seek to help attract and retain top talent,” said LPC Executive Vice President Seth Johnston.

Designed by Duda Paine Architects, The Republic will offer sweeping views of Lady Bird Lake and a direct connection to Republic Square Park – the building’s historic namesake. In addition to being the only building that opens to a full block of park space in the Central Business District, every office floor of The Republic will feature a 750 square foot private terrace, further connecting tenants to Austin’s distinctive outdoor lifestyle.

“We’re delighted with leasing momentum achieved at this point in the construction timeline at The Republic,” said DivcoWest Managing Director, Costa Petrunoff. “The ‘flight to trophy’ trend is evident as tenants seek out the quality and prestige of this state-of-the-art tower. The building’s design, including the Michael Hsu Office of Architecture-designed amenities, has attracted tenants who are drawn to the seamless connection between interior and exterior spaces.”

Ground-level elements in the building will include a 20,000 square foot public plaza with an outdoor bar and 16,585 square feet of ground floor retail space. Drawing in the outdoors throughout the building, the 19th-floor amenity level boasts more than 50,000 square feet of indoor-outdoor space, including conference rooms, fitness center and spin room, club room with a lounge and bar, and a 25,000 square foot outdoor terrace covered by architectural shade canopies.

The designers emphasized the health and wellness of the office tenants and guests by incorporating touchless access technology, enhanced air-filtration systems, and the pursuit of WELLv2 Core Certification, WELL Health-Safety Rating, LEED Gold Certification, and Austin Energy Green Building Program. Additionally, those who commute by bike will have access to a private elevator, which will take them directly to secure storage for nearly 350 bicycles, as well as a spa-quality locker room and showers.

ABOUT DIVCOWEST
Founded in 1993 by Stuart Shiff, DivcoWest, a DivCore Capital company, is a vertically integrated, real estate investment firm headquartered in San Francisco, with offices in Austin, Cambridge, Los Angeles, Menlo Park, Washington DC, and New York City. Known for long-standing relationships and experience across the risk-spectrum in innovation markets, DivcoWest combines entrepreneurial spirit with an institutional approach to commercial real estate. DivcoWest aims to create environments that inspire ingenuity, promote growth, and enhance health and well-being. Since inception, DivcoWest and its predecessor have acquired approximately 61 million square feet of commercial space – primarily throughout the United States. DivcoWest’s real estate portfolio currently includes existing and development properties in the office, R&D, lab, industrial, retail, and multifamily spaces. www.divcowest.com

ABOUT LINCOLN PROPERTY COMPANY
Lincoln Property Company (“Lincoln”) is one of the largest private real estate firms in the United States. Offering a fully integrated platform of real estate services and innovative solutions to owners, investors, lenders and occupiers, Lincoln supports the entire real estate lifecycle across asset types, including office, life science, retail, industrial, data center, production studio, healthcare, government, universities, and mixed-used properties, throughout the United States, United Kingdom, and Europe. Lincoln’s combined management and leasing portfolio on behalf of institutional clients includes more than 510 million square feet of commercial space. In addition to providing third-party real estate services, Lincoln has completed over 150 million square feet of development since its inception in 1965 and has another $20 billion currently under construction or in the pipeline. For more information, visit: www.lpc.com.

ABOUT O’MELVENY
It’s more than what you do: it’s how you do it. Across sectors and borders, in board rooms and courtrooms, we measure our success by yours. And in our interactions, we commit to making your O’Melveny experience as satisfying as the outcomes we help you achieve. Our greatest accomplishment is ensuring that you never have to choose between premier lawyering and exceptional service. So, tell us. What do you want to achieve? Visit us at www.omm.com; read our Insights 2024 report; learn more in our firm at-a-glance; and find us on LinkedIn, X, Facebook, Instagram, and YouTube.

ABOUT PHOENIX PROPERTY COMPANY
Phoenix Property Company (PPC), formed in 1994, is a nationally recognized, diversified real estate company with developments and investments in major cities across the United States. Blake Pogue and Jason Runnels are the original principals. Noted for its extensive track record in developing award-winning multifamily and mixed-use communities on in-fill and urban sites, Phoenix has gained a reputation for recognizing emerging neighborhoods and creating iconic properties that encourage additional growth and revitalization. Phoenix also works with universities in evaluating their current and future real estate needs, and develops and owns college student housing communities in multiple cities. Since its inception, PPC and the affiliated GrandMarc have developed residential and mixed-use communities with a construction cost of over $1 billion. For more information please visit www.phoenixpropertyco.com.

Chad Jones Steps into New Role as Head of Investments, Eastern Region for DivCore Capital.

New York, NY (April 8, 2024) — LoanCore Capital, a commercial real estate lending firm located in Greenwich, CT, and DivcoWest, a vertically integrated real estate investment firm headquartered in San Francisco, CA, are pleased to announce the promotion of Chad Jones to Head of Eastern Region Investments for their unified investment platform, DivCore Capital. Chad, who will be based in DivCore’s New York City office, previously served as Head of East Coast Originations for LoanCore. In his new position, he will play a pivotal role in solidifying New York as one of DivCore’s East Coast hubs further unifying its Real Estate Debt and Equity subsidiaries (LoanCore Capital and DivcoWest, respectively).

“We are thrilled to announce Chad’s promotion to Head of Investments for the Eastern Region. With his vast experience in commercial real estate lending and investments across various property types and markets, as well as his expertise in complex deal structuring, we are confident that he will be instrumental in driving DivCore’s continued success not only in the Eastern Region but also nationally.” said Mark Finerman, CEO of LoanCore and Co-CEO of DivCore Capital. “We look forward to leveraging Chad’s strong leadership skills to drive continued growth for DivCore and to maximize value for our investors.”

About DivCore
Formed in 2012 DivCore Capital, is the unification of DivcoWest, an equity focused investment firm which began operations in 1993 led by Stuart Shiff and LoanCore Capital which focuses on credit investments and was founded in 2008 led by Mark Finerman with a combined AUM of $32.5 billion. Through the unification of these two commercial real estate investment firms, DivCore’s vertically integrated team of over 225 professionals brings over 30 years of real estate investment and capital markets expertise across market conditions and credit cycles and the experience and skills to invest across all asset types and up and down the capital structure. DivCore’s success is driven by longstanding relationships with clients, deep market and industry knowledge, long term presence in key innovation markets, and the ability to provide creative debt and equity real estate solutions in an ever-evolving market.
www.divcore.com

About LoanCore
Founded in 2008 by Mark Finerman, LoanCore Capital, a DivCore Capital company, is a real estate lender and investor with a credit-focused asset management platform and is headquartered in Greenwich, CT, with offices in Palm Beach, Chicago, San Francisco, and Los Angeles. LoanCore is a trusted multidisciplinary holder of subordinate risk through fixed and floating originations, generally levered with fixed rate CMBS, floating rate CLOs and warehouse lines underwritten to be held to term. Since inception, LoanCore has funded in excess of $31 billion across more than 950 transactions.
www.loancore.com

About DivcoWest
Founded in 1993 by Stuart Shiff, DivcoWest, a DivCore Capital company, is a vertically integrated real estate investment firm headquartered in San Francisco, with offices in Austin, Cambridge, Los Angeles, Menlo Park, Washington DC, and New York City. Known for long-standing relationships and experience across the risk-spectrum in innovation markets, DivcoWest combines entrepreneurial spirit with an institutional approach to commercial real estate. DivcoWest aims to create environments that inspire ingenuity, promote growth, and enhance health and well-being. Since inception, DivcoWest and its predecessor have acquired approximately 61 million square feet of commercial space – primarily throughout the United States. DivcoWest’s real estate portfolio currently includes existing and development properties in the office, R&D, lab, industrial, retail, and multifamily spaces. www.divcowest.com

301 Howard to Represent San Francisco in 250,000-499,999 SF Office Category in Pacific Southwest Regional at the BOMA International TOBY Awards

San Francisco – February 28, 2024 – 301 Howard Street, a 319,000 square foot, 23-story Class A office tower in San Francisco’s South Financial District has been awarded the 2024 The Outstanding Building of the Year (TOBY®) by the San Francisco chapter of the Building and Office Managers Association (BOMA-SF).

The Outstanding Building of the Year (TOBY®) Award is the commercial real estate industry’s highest recognition honoring excellence in commercial building management and operations in specific categories of building type or size.

“We believe in investing in the power of place and creating exceptional environments for today’s most forward-thinking companies. So, it feels great to start 2024 on a high note with this prestigious TOBY® award,” said Gregg Walker, President of DivcoWest Real Estate Asset Management. “DivcoWest is proud of the dedication and effort made by the entire team at 301 Howard in delivering an exceptional workplace and experience to our tenants every day. We are thankful to BOMA for recognizing our team’s commitment to delivering superior service.”

301 Howard, which was built in 1987 and recently renovated, won the TOBY® in the 250,000-499,000 s.f. office category. DivcoWest owns, operates and has its corporate headquarters in the building which sits across from the Salesforce Transit Center, a regional transit hub for Muni, Golden Gate and AC Transit, Greyhound, Amtrak and Caltrain. It is also benefits from close proximity to Bay Bridge access and local ferries.

Among the building’s significant amenities are a fully-equipped fitness center with showers and lockers, a communal rooftop terrace with spectacular views of the Bay and an award-winning, fully-renovated lobby designed by Huntsman Architectural Group all managed by a hospitality driven team. The building hosts Joe & The Juice, a globally recognized health and wellness fast food café, and has an amenity lounge and bicycle storage for tenants.

For an opportunity to win a BOMA International TOBY Award, a property first must earn a BOMA 360 designation, a worldwide standard for building operations and management, and win both local and regional competitions.

Judging is based on criteria that includes community impact, tenant and employee relations programs, energy management and green policies, accessibility, emergency evacuation procedures, building personnel training programs and overall excellence. Building inspections are conducted by a team of industry experts.

About DivcoWest
Founded in 1993 by Stuart Shiff, DivcoWest, a DivCore Capital company, is a vertically integrated real estate investment firm headquartered in San Francisco, with offices in Austin, Cambridge, Los Angeles, Menlo Park, Washington DC, and New York City. Known for long-standing relationships and experience across the risk-spectrum in innovation markets, DivcoWest combines entrepreneurial spirit with an institutional approach to commercial real estate. DivcoWest aims to create environments that inspire ingenuity, promote growth, and enhance health and well-being. Since inception, DivcoWest and its predecessor have acquired approximately 61 million square feet of commercial space – primarily throughout the United States. DivcoWest’s real estate portfolio currently includes existing and development properties in the office, R&D, lab, industrial, retail, and multifamily spaces. www.divcowest.com

Original Town Hall Chefs/Owners Mitchell and Steven Rosenthal, along with Co-owner Bjorn Kock, announced they will be departing from the acclaimed restaurant in October, just shy of its 20-year anniversary, passing the torch to Chef Tyler Florence to carry on its legacy. What began in 2003 as a shot for the Rosenthal’s to create a New Orleans-inspired, casual take on the pedigreed cuisine they developed at Postrio with Wolfgang Puck, the downtown institution’s New American fare and buzzy atmosphere quickly became a San Francisco darling beloved by luminaries from Mayor Willie Brown to Dave Chapelle. From pioneering one of the earliest Bay Area communal tables to its famous chocolate butterscotch pudding and storied Fat Tuesday parties, Town Hall set new standards as a vibrant gathering place for San Francisco residents and visitors from near and far.
“Town Hall has always been a joy for us, a place everyone could call home. While we’re sorry to see this chapter close, we leave with great pride in what we have accomplished. With its subtle New Orleans charm, awesome food, and warm and wonderful staff, Town Hall has been cherished as a San Francisco star and we will treasure the many wonderful memories we have for years to come,” M. Rosenthal states. Mitchell, Steven, and Bjorn are especially grateful for the hard work and devotion that their incredible staff put in over the years and would also like to thank the patrons and regulars for their continued support.
Town Hall’s next chapter will kick off in early 2024 when chef Tyler Florence teams up with San Francisco-based real estate investment firm DivcoWest. DivcoWest and its partners own the restaurant as well as the adjacent 199 Fremont, a Class A office building that features a newly renovated lobby and tenant lounge that can host private events. Tyler will take over all restaurant operations and reintroduce a new concept under the existing and beloved Town Hall name. Florence’s approach to the evolution of Town Hall includes a refreshed menu, extended hours, and valet parking.
“Town Hall has made a significant culinary contribution to the City of San Francisco and our team is looking forward to carrying on the tradition of this cherished institution. We are excited to pair a fresh, new experience with our elevated hospitality to create a new restaurant offering that will blow you away,” said Chef Tyler Florence.
“Town Hall is an institution that has created great memories over the years for which we are deeply thankful,” said Eric Lupinski, Managing Director, DivcoWest. “We are honored that Tyler Florence has chosen the evolving East Cut neighborhood for his next endeavor. He is a celebrated voice in the hospitality industry, and we look forward to introducing his new concept to the community.”

Town Hall is located at 342 Howard Street in San Francisco. For more information, please call (415) 908-3900.

The Former Bank Branch Expanded into Three High-End Storefronts, now 100% Leased.

New York, NY (October 01, 2023) — Newmark Retail, in collaboration with DivcoWest, announces that the remarkable transformation of 540 Madison’s retail space is now 100% leased. What was once an oversized bank branch spanning 9,266 square feet was ingeniously reimagined into three distinctive storefronts to accommodate a mix of high-end retailers. The latest tenants to sign at the asset are H.Stern and Bang & Olufsen will join luxury watch retailer Grand Seiko, bringing the retail portion of 540 Madison to 100% leased. Newmark Vice Chairman Ariel Schuster and Director Mitch Heifetz serve as the exclusive leasing agents for the retail component and represent ownership on both transactions.

“This transformation is a testament to the vision and collaborative efforts between Newmark and DivcoWest. We’ve turned an oversized bank branch into an exquisite retail destination, exceeding expectations and achieving an impressive lineup of high-end retailers,” said Schuster. “Our collaborative efforts have successfully come to fruition with the signing of HStern and Bang & Olufsen, bringing the retail portion asset of property to 100% leased.”

Details of the more recent transactions include:
• Bang & Olufsen is among the world’s top high-end consumer electronics companies that designs and manufactures audio products, television sets and telephones. The Danish-founded company signed a long-term lease to occupy a 1,557-square-foot retail outpost at 540 Madison, which features frontage on East 55th Street.
• H.Stern is the U.S. outpost of a posh, Brazil-based jewelry company selling high-end pieces, including a robust collection of watches. The tenant signed a long-term lease to occupy a 1,450-square-foot space at the Madison Avenue location.

“With 540 Madison’s premier location and the repositioning of the office tower completed, we believed securing the right luxury retailers at the ground level was critical to the building’s transformation,” said Ariel Aber, Managing Director and Head of New York Investments at DivcoWest. “We look forward to long-term partnerships with H.Stern, Bang & Olufsen and Grand Seiko and thank the Newmark team for their commitment and collaboration on the successful leasing program.”

540 Madison is a newly renovated 292,000-square-foot, Class A office tower with ground-level retail at the corner of Madison and 54th Street, one of the city’s most sought-after neighborhoods. The building is just two blocks from the E, F and M subway lines at the 5th Avenue – 53rd Street Station. Nearby attractions include The Saint Regis Hotel, Paley Park, The Paley Center for Media, The Museum of Modern Art, Saint Patrick’s Cathedral, Rockefeller Center and Radio City Music Hall.

About DivcoWest
Founded in 1993 by Stuart Shiff, DivcoWest, a DivCore Capital company, is a vertically integrated real estate investment firm headquartered in San Francisco, with offices in Austin, Cambridge, Los Angeles, Menlo Park, Washington DC, and New York City. Known for long-standing relationships and experience across the risk-spectrum in innovation markets, DivcoWest combines entrepreneurial spirit with an institutional approach to commercial real estate. DivcoWest aims to create environments that inspire ingenuity, promote growth, and enhance health and well-being. Since inception, DivcoWest and its predecessor have acquired approximately 59 million square feet of commercial space – primarily throughout the United States. DivcoWest’s real estate portfolio currently includes existing and development properties in the office, R&D, lab, industrial, retail, and multifamily spaces. www.divcowest.com

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ending December 31, 2022, Newmark generated revenues of approximately $2.7 billion. As of June 30, 2023, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with over 7,400 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.