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At the Corner of Happy (Park Street) and Healthy (Tilden Way)
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Walgreens (NYSE: WAG), the 17,000 SF anchor business for Alameda Station (Park Street Business District’s
newest development located at 1600 Park Street), held a ribbon cutting on September 4th to announce the opening of Alameda's third Walgreens location. Mayor Marie Gilmore and several City staff joined members of the business community and the public in welcoming the national pharmacy and retailer to Park Street. The new Walgreens is a major investment by local developers Foley Street Investments, and is a major step in the continued redevelopment of Park Street north of Lincoln Avenue. The sophisticated architecture enhances the district streetscape, while blending well with neighboring buildings. The remaining 7,500 SF building portion of the Alameda Station site, referred to as Pad B, is still under construction, and will be occupied by up to four tenants yet to be named. The project includes a photographic art installation by artist Jerarde Gutierrez, which was facilitated by
the City's Public Art program. For leasing information, contact Patrick McGaughey, Vice President, Terranomics (925-627-2883).
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Small Devices, Large Expansion for Penumbra
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Medical device company, Penumbra, is expanding its Harbor Bay Business Park
location to include buildings 1321 and 1411 on Harbor Bay Parkway (approximately 78,000 SF of additional space), bringing its total Alameda foot print to 176,000 SF. The expansion will house additional clean rooms, office space, research and development laboratories, and conference and training rooms. Penumbra specializes in products that help patients suffering from strokes and vascular diseases. With scientific advancements, the company is able to make smaller and thinner devices to access more vessels, and to allow for better treatment of brain tissue. Since its inception in 2004, Penumbra has grown from 16 employees to 630, and estimates the number of employees will grow to approximately 700 by the end of 2014. In 2013, Penumbra was honored as a recipient of an Innovation Award in Life Sciences from
East Bay Economic Development Alliance (East Bay EDA). Negotiations are also underway for a locally operated Alameda restaurant to occupy the restaurant space at the 1411 location. The expansion and renovation are expected to be complete by December 2014.
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Brookfield Doubles Down on Business Park Acquisition
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Back in May, we announced via Twitter (@AlamedaBusiness) that Toronto-based Brookfield Asset Management
(NYSE:BAM) had purchased Alameda's Marina Village Business Park, a 1.1 million SF, 30-building office, lab, and R&D complex. Now that the purchase is complete, Brookfield is implementing its strategy to invest in the property and aggressively lease vacant space. Brookfield has retained brokerage firm CBRE
(NYSE:CBG) to market the property. Recently, City Economic Development and Building staff paid a visit to the park to check up on Brookfield's progress. It was evident from the visit that Brookfield is bullish on Alameda. Brookfield has constructed a temporary marketing center on-site, and has recently pulled permits for a host of common area improvements including a state-of-the-art fitness center and shared conference facilities. In addition, tenants can look forward to an updated central quad, complete with refreshed landscaping and hardscape, outdoor dining areas, and even a bocce ball court. The entire park is being rebranded as the "Marina Village Office & Technology Park," right down
to new monument and building signage. Finally, Brookfield has already implemented a private shuttle service from the park to Lake Merrit BART station in Oakland, and has embraced the food truck craze with weekly gourmet food truck gatherings at rotating locations throughout the complex. With all of these changes, interest is extremely strong and space is going fast. With full-service rents in Alameda's business parks averaging $1.92 per SF, Alameda remains a Bay Area bargain. For Marina Village Office and Technology Park leasing information, contact Michael Keely, Senior Vice President, CBRE (510-874-1935).
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Sales Tax Update: Numbers are Rising
Alameda's second quarter sales tax receipts for first quarter sales (January through March, 2014) are in and continue to trend upward. Sales tax receipts were up a robust 21.5% over the same quarter one year ago. Alameda-based point-of-sale transactions were up a strong 7.6% over the same time period. Receipts were boosted by strong gains in Fine Dining, Medical & Biotech, and Clothing.
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Dine Alameda
The City's new Dine Alameda Restaurant Guide showcases the richness and diversity of dining experiences available on the Island. Alameda is home to both top-rated restaurants and hidden neighborhood gems. Use the interactive electronic version of the restaurant guide to plan your next dining adventure.
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ALAMEDA BUSINESSES IN THE PRESS
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Third Alameda Walgreens location officially opens for business. Get the story...
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Council approves Brookfield and Alameda Point Partners as finalists for 68-acre mixed-use development site at Alameda Point. Read on...
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Activity at the City's permit counter has more than doubled that of last year's. Full story...
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