April 18, 2022 9:00 AM
Newmark announces it has arranged six new leases at 100 Shoreline, a Class A two-building office complex, totaling 60,000 square feet located in the prominent bayside location of Mill Valley, California in southern Marin County. The two-story and three-story buildings, totaling 98,861 square feet, were built in 1985 and feature distinctive wood and steel framed construction with extensive interior and exterior improvements and water or mountain views.
Newmark Executive Managing Director Haden Ongaro and Director Alisa Belew represented the landlord, Basin Street Properties, in the lease transactions.
“In partnership with Basin Street, we are extremely proud to report such leasing activity and success at Shoreline Office Center, especially since Glassdoor vacated 45,000 SF in 2021 when relocating to San Francisco,” said Ongaro. “Shoreline’s health and wellness revamp along with its unique features of beautiful bay views, spacious decks and freeway visibility proved to be desirable to these tenants and future tenants considering space in Marin County.”
“Club Evexia, Jyzen Labs, Basin Street and Newmark executed on a shared vision of turning Shoreline into the unique health and wellness center it is today. The partnership and camaraderie between Newmark, Basin Street and the two companies was truly spectacular and rewarding in turning this vision into a reality in Southern Marin,” added Belew.
In the last 12 months, the six lease transactions include:
- Club Evexia, a new state-of-the-art fitness and wellness center, signed a 15,528-square-foot lease at the end of 2021 and expanded into another ±6,094 square feet in early 2022, leasing a total of 21,622 RSF. Their new space will include dedicated group fitness rooms, indoor and outdoor lounges, indoor and outdoor fitness spaces and medical-grade air ventilation systems. The Newmark team also represented Club Evexia in the lease negotiation. “Club Evexia is a natural progression of my career and knowledge accumulation,” said Warren Gendel, Executive Director of Club Evexia. “Achieving optimal health and fitness with limited time, requires a holistic approach and access to a the most innovative techniques and practices, and I am hyperaware of how to execute on that. At Club Evexia we will provide those resources and the expertise on how best to utilize them.
- Jyzen Labs, a bio-optimization lab founded by a cutting-edge group of health technology companies and Mark Hinds, now occupies ±18,000 square feet. These transactions were also represented by Newmark’s Haden Ongaro and Alisa Belew.
- Cypress Point Investment Management, a strategy-focused, research-intensive investment management company, with a primary focus on the global technology sector and the impact of technological disruption in adjacent sectors, signed a 1,235-square-foot lease.
- OBE Worldwide, a full-service experiential marketing agency based in San Francisco, Los Angeles and New York City, signed a 6,600-square-foot lease at Shoreline in the first quarter of 2022. The company specializes in engagement marketing, delivering a variety of experiences such as Online and Virtual Events, Social Media Campaigns, Consumer Marketing Events, B2B Conferences, Internal Events, Retail Experiences, Pop-up Marketing + Installations, Influencer Marketing and Press Events, among others.
- Every Man Jack, a men’s grooming brand formulated with naturally derived ingredients, signed a 12,000-square-foot lease.
Market activity continued to increase during the first quarter of 2022, with over 123,529 square feet of leasing, according to Newmark Research. Market-wide, the first quarter of 2022 saw over 55,000 square feet of positive net absorption, which marked the second quarter of positive net absorption since the second quarter of 2019. indicating positive momentum in Marin County’s office market.
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. Newmark generated revenues in excess of $2.9 billion for the year ending December 31, 2021. Newmark’s company-owned offices, together with its business partners, operate from approximately 160 offices with over 6,200 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.
Dba Newmark Knight Frank in California