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Overview of San Leandro as an opportunity site for residential and commercial development given our location and proximity to San Francisco with Dark Fiber technology.
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“A rising tide lifts all the boats.”-President John F. Kennedy
San Leandro Trends in Real Estate• Why San Leandro matters in the core SF Bay Area?
• What are the tides rising in San Leandro?
• Is Oakland a seawall (risk) to the tides for San Leandro?
• What are the real estate opportunities in commercial, residential, and light industrial (Flex space)?
Why San Leandro matters.
Business environment
Environment
Politics
Mortgage climate and interest rates
Housing availability
Sale rates (including short sales, foreclosures, bank owned properties, etc.)
Property values
Community resources (parks and recreation departments, police, fire, etc.)
Schools
Crime rates
Community improvements
Employment
Why San Leandro matters (Cont.)
DEMOGRAPHICS
Why San Leandro matters (Cont.)
Income
Why San Leandro matters (Cont.)
HOUSING TRENDS
Why San Leandro matters (Cont.)
Forecasts & Opportunities
Why San Leandro matters (Cont.)
Crime – Urban, but safer than Oakland.
Why San Leandro matters (Cont.)
BART: San Leandro & Bayfair (23-25 minutes to San Francisco).
San Leandro SWOT Analysis
S - Strengths of the area itself. W - Weaknesses of the district itself. O - Opportunities in the general market. T - Threats from other competitors.
The Tides.
Strengths:
• Proximity – Oakland Airport & Bay Bridge.
• Ease of Business - San Leandro vs. others.
• Fiber loop – Lit San Leandro.
• 3 distinctive business clusters – grown from San Leandro history and experience.
Examples of Existing Companies:
Source: 2013-09-09_Next Generation Workplace District Study_Presentation_v4
Tide Surfers: Type A Machines.
Why San Leandro:
“San Leandro possesses a strong manufacturing base and an existing community of complementing technologies, a supportive City, combined with local enthusiasm.”
- Espen Sivertsen, the CEO of Type A Machines,
3D Printer by Type A Machines:
Source: http://www.sanleandro.org/civica/press/display.asp?layout=1&Entry=495
The Maverick: Dr. Patrick Kennedy
Lit San Leandro: Dark Fiber
“It helps to provide the foundation necessary to attract a new generation of companies to San Leandro, specifically software, technology and green-tech companies that may have a manufacturing component.”
- Dr. Pat Kennedy, OSIsoft Founder
Seeing BIG Data in real time:
Source: http://litsanleandro.com/background/
• The OSIsoft PI System is used in manufacturing, energy, utilities, life sciences, data centers, facilities, and the process industries.
The Surf Pack: Craft Brewer Cluster.
Why San Leandro:
• Offers flexible industrial real estate and easy access to the Bay Area’s transportation infrastructure.
• With revenue increasing by 17% in 2012 and 20% in 2013, the craft beer industry is undergoing a period of tremendous growth.
• Craft beer only accounts for about 8% of beer sold in the U.S., the industry has plenty of room for continued growth in the future.
Breweries:
Source: http://sanleandronext.com/?p=2471
The Eddies.
Weaknesses:
• Few value-added activities.
• Legacy: Obsolescent buildings.
• Legacy: Connectivity challenges.
• Legacy: Few services and amenities.
• Weak sense of place/regional image.
• A number of disengaged businesses.
Examples of Existing Companies:
The Crest.
Opportunities:
• Advanced manufacturing is growing.
• Emeryville and Berkeley are tight on manufacturing space.
• Kaiser’s opening creates a marketing window.
NextGen Study Recommendation:
The Seawall.
Threat/Competing Places:
• Fremont, Milpitas, Livermore
• Oakland Army Base, Jingletown & Alameda
• Hayward
• San Francisco
Real Estate Opportunities:
Recommendation by Next Gen Study
Real Estate Catalysts (Cont.):
Kaiser Permanente Medical Campus, San Leandro.
• Open to Thrive…
Real Estate Catalysts:
The Gate.
• Open to Make Things…
Real Estate Opportunity Sites:
Kaiser North Retail Parcel Site (i.e. Business Center)
• Offering Memorandum in fall ‘14
Real Estate Opportunity Sites (Cont.):
2950 Merced – Vulnerable Site per NextGen Study• On market @ $14m, 7.51 ac w/133,849 square feet at 87.2%
Occupancy.
Real Estate Opportunity Sites (Cont.):
1900-1944 Marina Blvd. – Vulnerable Site per NextGen Study• On market @ $17m, 8.71 ac w/151,000 +/- square feet
Real Estate Opportunity Sites (Cont.):
1001/1005 San Leandro Blvd. – partial TOD Site, 0.23 acre site• On market @ $911,250 with residence and business, Assemblage for housing/office/retail
Historical Commercial Comp:
Hudson Lumber Site to Preferred Freezer Services 15.73 Acres
San Leandro Residential:
Detached
• Days on Market (DOM) for the San Leandro area year-to-date is around 24. The median detached home price in San Leandro for May was $457,500.
Attached
• Days on Market (DOM) for the San Leandro area year-to-date is around 24. The median attached home price in San Leandro for May was $311,400.
And finally: Breaking News
MTC Awards San Leandro $440k for Bayfair Transit Village
• Metropolitan Transportation Commission (MTC) has awarded $440,000 in grant funding to prepare a specific or area-wide long-range plan and environmental study for the Bayfair Center and the adjacent Bayfair BART station.
Thank you.
Q&A / Discussion
• Contact info:Ed HernandezBay East Legacy & Associates400 Estudillo, Suite 204 San Leandro, CAed@bayeastlegacy.com(510) 842-6175 office
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