Ellis Partners Closes New $200 Million Core Venture

San Francisco, CA: Ellis Partners announced today that it has closed a new separate account investment vehicle with a $200 million equity commitment from the New York State Common Retirement Fund (“NYSCRF”).  The joint venture will focus on acquiring and managing core office, industrial and retail properties in the San Francisco Bay Area.  Ellis Partners received the direct investment from NYSCRF after being selected as a successful graduate of NYSCRF’s emerging manager program. “We are honored to have this opportunity to continue our work with NYSCRF in this new long-term venture. We look forward to working with the Bay Area real estate …

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Regency Centers Acquires Iconic Shopping Center at The Pruneyard

Campbell, CA – Today, Regency Centers Corporation (“Regency”) (NASDAQ:REG), the preeminent national owner, operator, and developer of shopping centers, has announced the acquisition of 258,000 square feet of prime Silicon Valley retail located in the iconic mixed-use project known as The Pruneyard. Originally built in the 1960s, The Pruneyard quickly became a Silicon Valley landmark, evolving over the years and recently undergoing a substantial renovation. Anchored by Trader Joe’s, it is located at the highly-trafficked intersection of Campbell Avenue and Bascom Avenue, adjacent to State Route 17. The Pruneyard sits in close proximity to the West Valley’s most affluent neighborhoods, drawing …

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Oaktree joins Ellis Partners Venture to Bring New Investment to the Pruneyard Office Towers in Silicon Valley

Campbell, CA – Ellis Partners announced today that it completed a transaction for funds managed by Oaktree Capital Management, L.P. (“Oaktree”) to purchase a majority stake in the three-building, 365,000-s.f. Class A office component of the iconic mixed-use Pruneyard complex. Ellis Partners, which purchased the property in 2014 will retain an ownership stake and continue to manage the project. The Pruneyard Office Towers are centrally located in the heart of Silicon Valley’s West Valley submarket with prominent visibility and ease-of-access along Highway 17 and less than a 10-minute walk from downtown Campbell (via a newly improved walkway) as well as the …

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Ellis Partners Buys Vacant Building in Emeryville for $6.3MM

San Francisco-based Ellis Partners has acquired the 19,000 square foot building located at 4090 Halleck Street in Emeryville for $6.3 million, or just over $331 per square foot, according to sources familiar with the acquisition of the property. Ellis Partners would not comment on what it paid for the property. The company used its own capital to acquire this asset. The seller of the building was an end-user that was in the art re-printing business. It had sold the business a couple of years ago and no longer had any use for the building. The seller was represented in the sale by …

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Ellis Partners comes full circle on Roseville office plan

When his firm Ellis Partners bought a nine-building portfolio of office buildings in Roseville from Hines in 2012, co-managing principal James F. Ellis said he believed the region was poised for better times. With Sacramento still in the early stages of recovery from the Great Recession, vacancy on the Douglas Boulevard corridor was 23 percent, so there was definite room for improvement. Ellis’ optimism paid off over the next six years, as the San Francisco firm employed an aggressive strategy of improving the buildings and going after tenants. From then until now, according to Newmark Knight Frank, Ellis’ Roseville properties saw 180 deals. Ellis …

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Ellis Partners Announces Another Wave of New Tenants as The Pruneyard Realizes its Renaissance

CAMPBELL, CA. – The Pruneyard is abuzz with new retail and restaurant tenants as the property completes its first phase of construction, elevating this Bay Area landmark’s shopping, dining and entertainment options. “Our new and incoming tenant mix will complement many of our longstanding tenants and further enhance The Pruneyard as a vibrant dining, shopping and entertainment destination for the entire West Valley,” says Caroline Morris, senior vice president at Ellis Partners, owner of The Pruneyard. This spring, The Pruneyard will be home to several new and innovative dining concepts and retailers as well as refreshed offerings from longstanding tenants. Asian Box will …

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Developers Ellis Partners and Intercontinental Real Estate Corporation to Break Ground on “The Key at 12th”

Oakland, CA – Today Ellis Partners, in a joint venture with Intercontinental Real Estate Corporation, formally broke ground on “The Key at 12th,” a new state of the art Class A office tower, adjacent to BART and across from the City Center development.  With hard hats and shovels in hand, Oakland’s Mayor and City officials joined in the celebration.  Ellis and Intercontinental expect completion and occupancy in late 2019. “We are honored to have the opportunity to transform this long-vacant block into Oakland’s premiere office building” said James Ellis, Managing Principal of the Ellis Partners.  “The Key at 12th will integrate …

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Ellis Partners and Intercontinental Real Estate Corporation Acquire 1100 Broadway Development Site

Oakland, CA – Today Ellis Partners, in a joint venture with Intercontinental Real Estate Corporation, announced it acquired the vacant parcel in downtown Oakland known as 1100 Broadway.  The acquisition includes the dilapidated, historic Key System building, which holds 34,000 square feet across seven floors of commercial space.  The new ownership plans to build a new Class A office tower on the site, restore the vacant building to its original splendor, and integrate the two.  The Key System building, built in 1911, was the headquarters of the Key System Railway which transported East Bay residents locally and across the lower …

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Ellis Partners Begins Revitalization of the Iconic Pruneyard Shopping Center

CAMPBELL, CA – The Pruneyard has long been a diamond-in-the-rough, but with the start of a major renovation, it is poised to be the jewel of Silicon Valley. The construction of this multi-phase project is commencing this month following a groundbreaking ceremony on Wednesday, January 18 at 10 am. The first phase comprises a series of dramatic improvements to transform The Pruneyard into an active and connected urban village. The Pruneyard’s Main Street and Plaza will be reimagined into a town square framed by new and updated retail and a host of dining options. Pedestrian walkways will improve circulation through the …

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Ellis Partners Acquires 411 Borel, San Mateo

San Mateo, CA – San Francisco-based Ellis Partners announced that it has acquired 411 Borel in San Mateo.  The price was not disclosed. 411 Borel is a 141,000 square foot institutional-quality multi-tenant office building designed by renowned Bay Area architect Art Gensler.  Its timeless design positions it as one of the leading office buildings in the marketplace.  Situated adjacent to Highway 92 with immediate access to Highway 101, Interstate 280 and the San Mateo Bridge, the property is in a prime Peninsula location midway between San Francisco and San Jose. “We are thrilled to be adding 411 Borel to our portfolio and …

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