Basin Street Properties Achieves 100 Percent Occupancy at Fountaingrove Executive Center in Santa Rosa
SANTA ROSA, Calif., June 14, 2013 – Basin Street Properties, a prominent Northern California and Northern Nevada real estate investor and developer of commercial and mixed-use properties, has signed a lease with Wells Fargo Advisors at Fountaingrove Executive Center, bringing the office building to full occupancy. The building is one of the 17 properties in Santa Rosa acquired from Equity Office Properties last year, all of which had been previously owned, managed or developed by Basin Street.
“While bringing a property to full occupancy is certainly something to be proud of, we’re always more excited about beginning a relationship with a strong local company, like Wells Fargo Advisors,” said Scott Stranzl, vice president of leasing for Basin Street Properties. “By adding these 17 buildings back into our portfolio, we have been able to offer local businesses quality real estate options to meet their goals and allow them to stay in the vibrant North Bay community. Achieving 100 percent occupancy is a testament to the quality of Basin Street’s properties and client service, as well as the strengthening economy here.”
Wells Fargo Advisors, a premier national financial services firm, signed a lease for an approximately seven 1/2 year term. They were represented by Dennis Plehn of Newmark Grubb Knight Frank in the transaction.
“Our new office space at the Fountaingrove Executive Center allows us to accommodate the growth we have experienced over the past few years, and more importantly gives us the capacity to bring on additional brokers,” said Branch Manager Kevin Jaggie. “Basin Street has been very cooperative to our needs, including building more private office spaces for our brokers. It’s great that the building is so visible from the freeway, and I know all our employees are excited about this brand new space and opportunity.”
Fountaingrove Executive Center is a 37,428 square foot premier office building located in the prestigious Fountaingrove submarket, overlooking the city of Santa Rosa. It boasts excellent visibility from Highway 101, ample parking and is conveniently located ten minutes from Sonoma County Airport. Basin Street is represented by Jeff Negri and Niels von Doepp of Cassidy Turley in leasing Fountaingrove Executive Center.
Wells Fargo Advisors will be eligible to participate in the Basin Street’s Tenant Advantage Program (TAP) that was launched last year. The program offers exclusive discounts and promotions – typically 10 to 20 percent off retail goods and services – within Basin Street’s retail, residential and hospitality properties, as well as at partnering businesses. There is no cost to participate in TAP and the program extends to all tenants and retailers where the company owns property.
About Wells Fargo Advisors
With $1.2 trillion in client assets as of December 31, 2012, Wells Fargo provides investment advice and guidance to clients through 15,414 full-service financial advisors and 3,248 licensed bankers. This vast network of advisors, one of the nation’s largest, serves investors through locations in all 50 states and the District of Columbia. Wells Fargo Advisors is the trade name used by two separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company: Wells Fargo Advisors, LLC and Wells Fargo Advisors Financial Network, LLC (members SIPC). Statistics include other broker-dealers of Wells Fargo & Company. Investment products and services are offered through Wells Fargo Advisors, LLC.
About Basin Street Properties
Basin Street Properties is a prominent Northern Nevada and Northern California developer, investor and manager of commercial properties. Basin Street has become widely recognized for its office, retail and mixed use developments. Founded 37 years ago, the company offers a broad range of real estate services, including development, property management, construction management, financial and asset management, and property acquisition and disposition. For more information, visit www.basin-street.com.