SAN FRANCISCO – Cushman & Wakefield represented Delta Dental in two multi-year office lease renewal transactions for the healthcare company’s Northern California headquarters in San Francisco and additional offices in Rancho Cordova. Together, the transactions totaled more than 344,000 square feet.
Cushman & Wakefield Vice Chairman & Managing Broker Mark McGranahan and Senior Director Mark Anderson represented Delta Dental in a 188,546-sf lease renewal for the company’s headquarters at 100 First Street in San Francisco. The transaction, which was completed June 7, was San Francisco’s largest leasing deal in the second quarter of 2013. Kilroy Realty was the landlord.
In addition to the sizeable San Francisco lease, McGranahan, Anderson and Executive Director Chris Strain from the Cushman & Wakefield Sacramento office represented Delta Dental in a 156,080-sf lease renewal at 11125 and 11155 International Drive in Rancho Cordova in Sacramento County. The transaction, which was completed June 14, was also the Sacramento region’s largest leasing deal in the second quarter of 2013. The landlord (John J. Cortese Family) was represented by Colliers International.
Delta Dental was recently named the second-largest private company in the Bay Area in the San Francisco Business Times’ annual list of the largest private companies in the Bay Area.
“Whether a renewal or relocation, we’re always thrilled to assist our established, long-standing clients like Delta Dental with their important headquarters transactions,” said Mark McGranahan. “While technology companies have certainly dominated Bay Area office market headlines, these large lease renewals by Delta Dental remind us that non-tech companies also continue to be important economic drivers for the region.”
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Cushman & Wakefield is the world’s largest privately‐held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world’s major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and assignments. Founded in 1917, it has 253 offices in 60 countries and nearly 15,000 employees. It offers a complete range of services for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has more than $3.7 billion in assets under management globally. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge.