PUBLICATION: REALTY BIZ NEWS  

New York-based commercial real estate startup Jones has just announced raising $12.5 million in Series A funding led by JLL Spark and Khosla Ventures. Other investors named in the announcement were Camber Creek, Rudin Management, DivcoWest, and Sage Realty.

The company is a marketplace curator for pre-approved vendors for tenants and property managers to locate and hire the right people who’ve already passed compliance. This new investment brings Jones’ total raised to $20 million. Jones aims to solve the pain point for commercial real estate tenants and property managers needing liability clearance for their associated vendors entering premises… READ MORE

Emphasizes a new kind of “workplace-making” for the Bay Area

MENLO PARK, CA – June 28, 2021 – A little more than a year after adding two additional office campuses in Menlo Park,2700-2770 and 3000 Sand Hill Road, to its portfolio at 2400-2498 Sand Hill, DivcoWest has unveiled its long-term vision and rebranding of the properties, now called “Sand Hill Collection” (SHC). The new Sand Hill Collection represents roughly 44% of office inventory along Sand Hill Road and is an exceptional cluster of world-class office space, activated open spaces, and on-site amenities in one vibrant community.

“Sand Hill Road has always been known for big ideas, strong partnerships, and a place where history has been made. We see the Sand Hill Collection as a hub for great minds to nurture and advance that legacy –a place where innovation and wellness thrive in a natural environment that invites people to fine-tune their own personal work-life balance,” said Gregg Walker, Senior Managing Director and Head of Business Development at DivcoWest.

As an integrated collective, SHC delivers approximately 552,000 square feet across nearly 50total acres, three campuses, and 21 office buildings along the most coveted stretch of Sand Hill Road. DivcoWest believes SHC represents a new kind of workplace by offering all its tenants’ employees (its members), regardless of which campus they call home, full access to the comforts and conveniences of the entire community in a setting that seamlessly blends the indoors and out. DivcoWest’s vision for these assets focuses on “workplace-making” and involves the renovation and expansion of several wellness and natural amenities and programs, providing members with flexibility and fresh air.

The three distinct campuses that makeup the Sand Hill Collection, reimagined as The Quad (2400-2498 Sand Hill Road), The Grove (2700-2770 Sand Hill Road), and The Ranch (3000 Sand Hill Road), each have their own identity, history, and unique characteristics but are now united by proximity, shared ownership, programming and a network of outdoor spaces and amenities usually reserved for the Bay Area’s exclusive, single-tenant corporate campuses.

The Quad (formerly “Quadrus”) at 2400-2498 Sand Hill Road is a nine-building, 234,000 square foot campus sitting on 20.4 acres with sweeping views of Stanford University and the surrounding foothills, offering an airy and open environment for connection and collaboration. Its on-site conference center, café, fitness facility, and meandering walking trails are complimented by its numerous terraces and decks designed to host work and events inside and out. DivcoWest will soon complete renovations to various common areas including the campus atrium, which will add to the site’s inventory of inviting and beautifully landscaped outdoor spaces to gather or relax.

The Grove at 2700-2770 Sand Hill Road is an eight-building, 121,000 square foot campus on 11.4 wooded acres. The Grove offers a quiet refuge for those seeking a private yet accessible workspace in which to think and create. Its walking trails wind through the trees and link its fitness center with outdoor event and gathering places. The picturesque landscape will be expanded and further developed to include a large, programmed meadow of lush green space and multi-season decks scaled for flexible outdoor meetings and moments of quiet.

The Ranch at 3000 Sand Hill Road is comprised of four buildings totaling 198,000 square feet and 16.5 acres. The Ranch sits on the crest of a hill close to I-280, surrounded by the 18-hole Sharon Heights Golf and Country Club and residential units. It’s a productive oasis with fitness and conference space as well as a full-service restaurant offering catering services to all SHC member suites. Outdoor meeting areas are planned to support a variety of work styles, while a new pop-up beer garden, “The Hideaway,” is opening to the public, and outdoor group fitness programming is underway.

Health, wellness, art and community are at the center of the SHC experience. Each of the three campuses offers or will offer a wide range of facilities and amenities that are inspiring, relaxing, and motivating. As DivcoWest adds to this list of member offerings, there’s seemingly always something new to discover. From yoga on the deck at The Quad to the recent addition of “Buzz,” a 1967 Airstream serving coffee, pastries, craft beer and wine, employees can build their own unique experience which inspires them to be and do more at SHC.

Further, through a longstanding partnership with the Anderson family, members enjoy a regularly rotated gallery of works from the Anderson Collection, seen as one of the world’s largest and most impressive private collections of 20thcentury American art.

“While we believe Sand Hill Collection’s abundance of amenities and prestigious location are second to none, we also believe the benefit of being here is the collection of forward-thinking perspectives and the exclusive and inspiring experience, a place where people can and will do their best work, surrounded by nature and supported by commerce, creativity and community,” said Ben Elder, Managing Director, DivcoWest.

DivcoWest has tapped a Palo Alto-based brokerage team from Newmark, led by Executive Managing Director Christian Prelle, to represent them in leasing Sand Hill Collection. All leasing inquiries can be directed to the team via www.sandhillcollection.com.

 

ClickUp expands downtown, moving to DivcoWest’s DiamondView Tower

SAN DIEGO – June 15, 2021 – As companies emerge from the global pandemic, DivcoWest observes a national and growing trend of tenant demand focused on high-quality space. DivcoWest’s DiamondView Tower combines quality with walkable retail, proximate housing, and direct game and concert views at Petco Park.

This growing demand is highlighted by ClickUp, the latest company to further establish its roots in downtown San Diego by moving its headquarters into DiamondView Tower. Founded in 2017, the all-in-one productivity platform raised a $100 million Series B round last December to reach unicorn status with a $1 Billion valuation. The company also doubled its workforce last year and plans to double headcount again over the next year. ClickUp will be expanding to take two full floors for nearly 36,500 square feet. The lease also includes signage overlooking Petco Park, fitting given ClickUp’s partnership with the San Diego Padres to help power the team’s IT operations.

“DiamondView combines expansive, efficient indoor space and tons of natural light with large balconies giving tenants fresh air, fantastic views and room to spread out. It’s perfect space for innovative companies looking for modern creative space with the flexibility to grow,” says Sara Buss, managing director, DivcoWest.

DiamondView is surrounded by thousands of rental apartment and condo units, as well as restaurants, hotels, cafes, retail shops and public spaces. The tower is also just two blocks away from light rail.

In addition to DiamondView, DivcoWest’s current downtown San Diego portfolio includes Kettner & Ash, a recently renovated mid-rise office building in the city’s Little Italy neighborhood.

PUBLICATION: MULTI-HOUSING NEWS

The company is starting with four properties in the Southeast and plans more than 30 additional projects over the next several years.

Middleburg Communities has launched the first four developments of its new Single Family Rental (SFR) communities’ strategy called The Hamlet, with locations in Alabama, Florida and North Carolina. The company has another 16 projects under contract and more than 20 in its pipeline.

The first of the four to close is The Hamlet at MidCity in Huntsville, Ala., which will include more than 200 two- and three-bedroom single-family detached cottage homes and 36 one-bedroom duplexes, master-planned around shared open green spaces, community gardens and ponds.

The development, located at 1044 Old Monrovia Road NW, has an open farmers’ market green at the entrance to the property. Residents will have access to a resort-style pool, state-of-the-art fitness center, clubhouse, dog park and pet spa, grilling stations, fire pits and package lockers. Construction is slated to being at the end of this month and it is expected to be substantially completed by January 2023…READ MORE

DivcoWest is pleased to announce that they have broken ground at 441 Morgan Avenue, a ten-story, 375,000 square-foot life science building, situated in the growing innovation hub that is Cambridge Crossing (CX), the new 43-acre mixed-use neighborhood well underway at the intersection of Cambridge, Somerville, and Boston.

Following the recently announced expansion by Bristol Myers Squibb, approximately 1.7 million square feet of commercial space at CX is currently leased. Tenants of 441 Morgan Avenue, an institutional quality lab building, will join a thriving ecosystem of innovative companies that includes Sanofi, Bristol Myers Squibb, Philips, Cerevel Therapeutics, and Thrive Earlier Detection.

“Our goal isn’t to simply create buildings, but to create an environment that supports the mission of our tenants, provides room to grow, and accelerates groundbreaking research that positively impacts lives,” said Mark Roopenian, Managing Director at DivcoWest. “We are proud to have broken ground at 441 Morgan Avenue, providing more opportunities for innovation to thrive, and thank all of the hardworking women and men who continue to bring CX to life everyday.”

Created to meet today’s highest health and technology standards, 441 Morgan Avenue is comprised of 10 lab floors plus two penthouse floors, multiple outdoor terraces with stunning views, and will utilize the newest View Glass Technology, dynamic glass designed to create a more efficient environment that improves the well-being of those within. Adjacent to CX’s centerpiece that is The Common at CX, a five-acre park, this new building also offers many ways to bring work inside out whether on its multiple terraces or in the abundance of connected green space. The life science building is designed with minimal interior columns and generous ceiling heights to allow maximum flexibility to meet the changing demands of research-focused companies. DivcoWest anticipates the building’s delivery to occur in early 2023 for tenant interior buildout.

Designed by Ennead with Jacobs Consultants as the architect of record, 441 Morgan Avenue furthers DivcoWest’s dedication to high environmental standards and is expected to achieve multiple certifications that include LEED Gold, WiredScore Platinum and WELL, emphasizing the firm’s commitment to sustainability and the health and wellness of its tenants. The building also offers superior proximity to two MBTA subway lines, access to bike storage with showers and repair stations, and three below-grade parking levels equipped with EV charging stations.

This groundbreaking marks the fifth milestone for onsite progress at CX in the past year, with 2.1 million square feet currently under construction. The event follows three topping off celebrations at 250, 350, and 450 Water Street, and the completion of CX’s standalone retail building, The Shed, now home to Will Gilson’s multiple restaurants The Lexington, Café Beatrice and Geppetto, and soon Lamplighter CX.

Offering close proximity to Kendall Square, MIT and Harvard, CX is a thoughtfully-designed, vibrant neighborhood and will be a dynamic life-science hub that inspires collaboration, innovation and connection. Once complete, the community will provide a one-of-a-kind place for employees, residents and neighbors connected to two MBTA stations and surrounded by 11 acres of open space, an eclectic food scene, neighborhood retail and more than 2,400 residences in addition to the already 2,500 residences in close proximity.

Learn more: www.cambridgecrossing.com/441-morgan-avenue/

Industry Leading Retailer Adds to Neighborhood’s Growing List of Dynamic Retail

DivcoWest today announced it will welcome specialty outdoor retailer REI Co-op to Cambridge Crossing (CX), the new 43-acre neighborhood at the intersection of Cambridge, Somerville, and Boston. This marks REI’s first Cambridge location and the introduction of its small format neighborhood store, which will provide a curated offering of everyday outside gear, apparel, and services.

“After 34 years in Massachusetts, including 18 years in Fenway, we’re proud to grow into the city of Cambridge this fall – a neighborhood filled with outdoor enthusiasts and forward-thinking companies,” says Becky Smith, REI’s Northeast regional director. “We look forward to joining the fabric of a community that shares our belief that time outside is fundamental to a life well lived. REI is committed to connecting and supporting all members of the community to have an active lifestyle.”

The 8,000 square-foot urban concept store is slated to open this fall at 181 Morgan Avenue, on the first floor of CX’s newly constructed two-story 20,000 square-foot office and retail building. Serving nearly 579,000 lifetime members throughout Greater Boston, REI will focus on the area’s rich heritage of running and cycling. The Co-op’s other products will be carefully curated to serve those in the Cambridge community that prioritize time outside in their daily lives. Members and customers will be able to access the full breadth of REI’s merchandise on REI.com through in-store and virtual outfitting and consultation services. The location will also feature a gathering space to where members and customers can partner with REI’s local staff to dream, discover, and plan their next local outdoor adventure. REI will work closely with the CX team to host community programming outside, within the 11 acres of planned public parks and open spaces in the new neighborhood.

“REI’s reputation as a leader in outdoor expertise and commitment to investing in their communities makes them an ideal addition to the growing list of retail at Cambridge Crossing,” said Mark Roopenian, Managing Director at DivcoWest. “With an abundance of open space and a unique network of multi-use paths and interconnected walkways, CX is a neighborhood that puts health and wellness first and we couldn’t be more thrilled to partner with a company whose values and mission are aligned with the future of this growing community. CX will be the perfect home for this innovative new concept.”

REI will be conveniently located at the front steps of CX, adjacent to the new and soon-to-open MBTA Green Line Lechmere Station, and situated along the community multiuse path and new raised, separated cycle tracks along Monsignor O’Brien Highway. In addition, a community cycle center, connected to the new REI store, will be accessible to all and will serve as a convenient place where cyclists can use public lockers and shower rooms. Those needing further assistance and expertise can stop into REI and connect with a certified bike tech. REI Co-op will also be directly across from The Shed at CX, now home to Will Gilson’s multiple restaurants The Lexington, Café Beatrice and Geppetto, and soon Lamplighter CX, a craft brewery and taproom.

This summer, CX will welcome the community back for exciting outdoor neighborhood events, including CX Fit, CX Summer Nights, and CX Movie Nights to start. Additionally, Gilson’s team will revive their highly successful pop-up, The Lexington at the Picnic Grove, offering even more al fresco dining options for guests to enjoy.

By creating an unparalleled convenient, transit-oriented neighborhood, CX will enhance the everyday for commuters and residents. Community members will be steps from the onsite Lechmere Green Line station and bus terminal, the nearby Orange Line Community College Orange Line station, and walking distance from Kendall Square. CX is accessible to an interconnected system of walkways, including the community path that runs from the Charles River to Cambridge Crossing and then through Somerville and Medford, connecting to regional bike trails; bike lanes with proximity to four Blue Bike stations; and an EZ ride shuttle, connecting CX to the Red Line and to North Station.

When complete, CX will offer 100,000 square feet of local, authentic retail that sits at the heart of the project creating a true destination. CX currently has 2.1M square feet of life science, tech office, residential, and retail space under construction and most recently celebrated the fourth fully leased science and technology building in the neighborhood with Bristol-Myers Squibb signed on to join Philips, Cerevel Therapeutics, Sanofi, and more.

For more information and updates on CX, visit www.cambridgecrossing.com, or follow along on Instagram, Facebook, LinkedIn, and Twitter.

 

PUBLICATION: Real Estate Weekly

 

DivcoWest has completed its purchase of 325 Hudson Street from Jamestown for $135 million.

The 10-story, mission-critical property located at Hudson and Vandam Streets in Lower Manhattan, sits adjacent to Disney’s new 1.2 million square foot headquarters, is surrounded on three sides by Google, and is proximate to the NY Genome Center and NYU’s Langone Health/Biolab co-working facility for early-stage life science enterprises.

READ MORE

10-story lower Manhattan building sits atop a fiber-dense corridor with critical infrastructure

New York – May 26, 2021 – DivcoWest has completed the purchase of 325 Hudson Street, a 10-story, mission-critical property located at Hudson and Vandam Streets in lower Manhattan.

Centrally located in the dynamic innovation hub of Hudson Square, 325 Hudson sits adjacent to Disney’s new 1.2 million square foot headquarters, is surrounded on three sides by Google, and is proximate to the NY Genome Center and NYU’s Langone Health/Biolab co-working facility for early-stage life science enterprises.

The approximately 220,000 square foot flexible building sits atop the fiber-dense Hudson Street corridor and offers a Meet Me Room (MMR) ecosystem with direct access to over 40 fiber networks and five transatlantic subsea cables. This translates to swift and cost-effective data connections.

DivcoWest will maintain a premier core interconnection colocation managed by H5 Data Centers, a national colocation and carrier hotel provider, while also investing in the remaining space to deliver creative and collaborative environments for tenants.

“This building offers real optionality for a variety of users,” said Ariel Aber, DivcoWest’s head of the NY region.  “There is tremendous interstitial space between floors, which will appeal to research use, while the large floor plates with clear window lines will also benefit life science and creative office users,” Aber added.  DivcoWest believes these features, combined with the unparalleled connectivity, technology infrastructure and location, make the building a rare proposition for enterprises across media, life science and office sectors.

 

About DivcoWest

Founded in 1993 by Stuart Shiff, DivcoWest is a vertically integrated, real estate investment firm headquartered in San Francisco, with offices in New York, Boston, Washington DC, Los Angeles and Menlo Park, CA. Known for long-standing relationships and experience across the risk-spectrum in markets where innovation thrives, DivcoWest combines entrepreneurial spirit with an institutional approach to deliver real estate solutions and opportunities to the world’s most forward-thinking companies and investors. DivcoWest aims to create environments that inspire ingenuity, promote growth, and enhance health and well-being. Since inception, DivcoWest and its predecessor have acquired nearly 50 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

PUBLICATION: MULTIHOUSING NEWS

The partnership will acquire and renovate homes throughout the western United States.

Real estate investment firm DivcoWest is investing $250 million in equity in a joint venture with Atlas Real Estate that plans to deploy $1 billion into acquiring and renovating homes for the single-family rental market throughout the Western United States. The JV marks DivcoWest’s entry into the growing SFR market.

The joint venture has already closed its first acquisition in Tucson, Ariz., a property at 4300 W. Bunk House Road, and a handful of properties are currently under contract throughout Arizona, Colorado and Nevada, according to Vincent Deorio, vice president of corporate development.

Noting more offers are going out to buyers in… READ MORE

Publication: Globe Street

Atlas Real Estate and DivcoWest have formed a $1 billion joint venture to acquire, renovate and manage single-family rental homes throughout the American West, signaling the latest entry into the skyrocketing SFR market and marking DivcoWest’s official entrance into the sector.

As part of the deal, San Francisco-based DivcoWest will invest $250 million of equity. The joint venture expects to deploy a total of $1 billion acquiring and renovating homes in high-growth states like Colorado, Arizona, Idaho, Nevada and Utah, where Atlas currently manages more than 4,200 units.

The SFR market—traditionally the purview of smaller investors—has… READ MORE