PCCP & SRM Associates Form Joint Venture for the Development of a 160,000 SF Office Project
PCCP, LLC, SRM Associates and Scott Newman, a private individual, have announced they have formed a joint venture to develop a four-building 160,000-square-foot build-to-suit office project in Alameda, Calif.
Phil Lombardo and John McManus of Cushman and Wakefield represented VF Outdoor.
The PCCP / SRM Associates joint venture will develop four, two-story office buildings within the 268-acre Harbor Bay Business Park project. Three buildings will total 45,000 square feet each and one will total 25,000 square feet. The 25,000-square-
”We are pleased to partner with VF on this unique build-to-suit project and tailor a solution that satisfies their facility objectives on many levels including sustainability, creating an inspiring environment for their employees, achieving competitive economics and delivering on a turnkey basis,” said Joe Ernst, principal with SRM Associates. “As an Alameda based-business, we are proud to play a major role with our partner PCCP in bringing VF Outdoor and its brands to our community.”
PCCP and SRM are seeking LEED Gold certification for the project once completed and will utilize both wind and solar powered features, including wind turbines and photovoltaic panel sun shades, and a highly innovative and energy efficient HVAC design using no compressors or refrigerants. Plans also include external decks, open green outdoor meeting spaces, an organic vegetable garden and areas for outdoor recreation.
“This build-to-suit project for VF Outdoor is a high-profile and significant corporate headquarters for the Bay Area and the City of Alameda,” said John Greer, principal with PCCP. “We have worked with SRM for eight years on nearly 100 acres in this prime bay front location. Our partnership has created a business environment that goes beyond your average workspace. It caters to companies seeking a sense of place for their employees that is well located and offers a high-quality product.”
SRM Associates and PCCP, LLC joined forces in 2003 when they acquired 75 acres of vacant land and a vacant 380,000-square-
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About PCCP, LLC: PCCP, LLC 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. Learn more about PCCP at www.pccpllc.com.
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 SF of commercial property throughout the Bay Area, having a portfolio value over $2 billion. www.srmassociates.com