Basin Street Acquires Central Marin Novato Office Building, Plans Extensive Improvements
July 17, 2014 by basinadmin
NOVATO, CALIF. – Basin Street Properties, a prominent Northern California real estate investor of commercial and mixed-use properties, has acquired 201 Alameda Del Prado, a 32,500 square foot office building in the North Bay Area city of Novato for $3.75 million. Under the same ownership for 14 years, the now vacant property will immediately be transformed into the Class A office product for which Basin Street is so well known.
This follows the purchase just nine months ago of the iconic Shoreline Office Center, another Marin county property. “This property is precisely the kind of acquisition at which Basin Street excels, we look forward to returning this classic Marin County complex to its former status,” said Matt White, CEO for Basin Street Properties. “We plan an investment of over $2.5 million on everything from exterior grounds and common interior areas to energy efficient building systems. This will very quickly become another terrific part of our North Bay holdings that stretch from Mill Valley to Santa Rosa.” Representing Basin Street in this transaction was Matt Brown of Meridian Commercial.
201 Alameda Del Prado, in southern Novato, is a 32,500 square foot office building that is centrally located immediately off Highway 101, providing easy access to all of Marin and Sonoma counties. Nestled in a wooded setting, the property offers natural light throughout with operable windows, a rooftop decks and outdoor patios. It has an internal energy management system and offers on-building signage with excellent freeway identity. Additionally, it features abundant parking and is just a short walk from Golden Gate Transit, as well as biking and hiking trails. Nearby amenities include the Wild Fox restaurant and Best Western hotel.