VF OUTDOOR, INC. BREAKS GROUND ON B-T-S IN ALAMEDA, CALIF.
Cushman & Wakefield Reps Apparel Firm in Planning, Site Search
ALAMEDA, CA – May 5, 2011 – (RealEstateRama) — A groundbreaking today for VF Outdoor, Inc. marks the culmination of a four-year planning and site selection effort lead by a brokerage team from Cushman & Wakefield of California, Inc. in Oakland.
The commercial real estate services firm represented VF Outdoor, a subsidiary of VF Corporation, in its 160,000-square-foot, build-to-suit lease at 2601, 2701, 2801 and 2901 Harbor Bay Parkway in Alameda. The campus will serve as the global headquarters for three VF Outdoor, Inc. brands: The North Face®, lucy® and JanSport®.
Alameda Waterfront Development Investors I, LLC (AWDI), a partnership of SRM Associates and PCCP, LLC will develop the four-building complex, with an expected delivery of summer 2012. AWDI will seek LEED Gold certification for the project, which will utilize both wind- and solar-powered features including wind turbines and photovoltaic panel sun shades and an energy-efficient HVAC design using no compressors or refrigerants. Other features will include external decks, outdoor meeting and recreation spaces, and an organic vegetable garden.
“This campus will set a benchmark for sustainable development,” noted Cushman & Wakefield’s Phil Lombardo, who headed the assignment with John McManus; both are executive directors at the firm. “VF Outdoor is dedicated to providing an environment that not only benefits its employees, but reflects its commitment to good corporate citizenship.” The Cushman & Wakefield team provided VF Outdoor with site selection, financial analysis, and transactional and construction management services.
“We intend to create a space that will both energize our employees and accurately reflect our brands,” said Steve Rendle, vice president of VF Corporation and group president of Outdoor & Action Sports Americas. “Each of these brands is innovative, collaborative and, most of all, passionate about the outdoors, travel, and athletics.
“It is important that this new setting complement our approach to both work and recreation, while accommodating our future growth,” Rendle said. “We are thoughtfully considering both the big and small details to epitomize the brands’ outdoor ethos and dedication to our employees and the local community.”
Located on San Francisco Bay, the 11-acre site offers dramatic views of the East Bay hills and the San Francisco skyline. VF Outdoor’s lucy® brand, which recently moved to Alameda from Portland, will relocate locally to the property, and The North Face®, and JanSport® will move from San Leandro, Calif.
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About SRM Associates: SRM, a privately held firm headquartered in Alameda, CA, is a full service real estate development company focusing on urban infill development. Founded in 1992, SRM has regularly been ranked as one of the leading commercial developers in the Bay Area with a reputation for build-to-suit projects. Since inception SRM has entitled, developed and/or acquired of over 8 million square feet of commercial property throughout the Bay Area, having a portfolio value in excess of $2 billion.
About PCCP, LLC: PCCP is a premier real estate private equity firm focused on commercial real estate debt and equity investments. PCCP has over $6 billion under management in multiple closed-end funds and joint ventures with institutional investors. With 33 investment professionals and 55 employees across four offices located in New York, San Francisco, Sacramento and Los Angeles, PCCP invests throughout the United States.
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