PM Realty Group Selects Cushman & Wakefield as Leasing Agent for Alameda Point

C&W team brings additional expertise and proven Alameda success to the task; will build on current leasing momentum of new food, beverage and technology clusters on the property

Alameda, CA – Today, PM Realty Group (PMRG) named Cushman & Wakefield as leasing agent for Alameda Point, creating a dynamic team to match the momentum on the unique bayside property.  Alameda Point is the commercial development situated on 1,000 acres and encompassing 90 buildings on the former Naval Base in the city of Alameda and along the San Francisco Bay. 

PMRG has served as property manager for eleven years and, at various times during that tenure, also served as leasing manager.  PMRG successfully recruited signature clients to some of the property’s massive and distinctive spaces.  Within the last 12 months, PMRG has completed 31 lease deals, including 16 new deals and 15 renewals.  Alameda Point includes approximately 1.8 million square feet of leasable properties. 

With the recent transfer of over 500 acres of the property from the Navy to the City of Alameda, PMRG recognized the opportunity to team with Cushman & Wakefield, one of the largest international real estate companies in the world, to leverage their substantial brokerage network. The firm also has significant national and international relationships that can help bring national exposure and a significant number of jobs to Alameda.

The Cushman & Wakefield team will include John McManus, Executive Director; Ryan Hattersley, Senior Director; Theodore Anderson, Associate Director; and Andrew Schmieder, Associate Director. The team previously successfully leased the Harbor Bay project in Alameda – a noteworthy success in the marketplace.

PMRG Senior Vice President Rick Jones said, “The Cushman & Wakefield team has a proven track record in Alameda. They know this market, they know the growth opportunities and know how to use this property to create local jobs.”

Alameda Point is home to over 80 companies and over 1,100 employees.  These employers are as diverse as Google X companies, Tesla Motors, St. George Spirits, and kid-centric Bladium. 

Cushman and Wakefield Executive Director John McManus said, “PMRG has tremendous leasing momentum and deal flow here.  Our job is to build on that success, starting with a strong list of warm leads, and then going to the market with these unique buildings in our back pocket.”

Current occupancy rates at the property hover around 87% in leasable space and land with renewals at 99%.

PMRG Senior Vice President Rick Jones said, “Alameda Point is an astounding asset.  On any day, you can see Google’s driverless cars or Tesla’s prototype cars on the runway of our ‘Tech Corridor.’  You can see fans of craft spirits seeking out new whiskeys, wines and beers in ‘Spirit Row.’   And you can watch creative food ideas become a reality at Oaktown Jerk and Wonky Kitchen. ” He added, “There is a lot of action here and you can feel the momentum on the property – especially now that the Navy has transferred the majority of this asset to the City.”

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About PMRG

PM Realty Group (PMRG), a privately held commercial real estate firm, has a nearly 60-year history of providing industry-leading, integrated commercial real estate business services to clients. PMRG leases and manages over 190 million square feet of space.  The firm focuses on creating value by offering a full spectrum of real estate services, including property and facility management, leasing, marketing, development, investment sales, construction management and engineering.  By capitalizing on the team's expertise, exceptional properties, tenants, clients and robust operating infrastructure, PMRG seeks, and ultimately creates, opportunities that generate exceptional returns. Through dynamic teamwork, PMRG strives to provide superior real estate services by anticipating the evolving needs of owners of real estate.  PMRG has managed Alameda Point for 11 years.  For more information, visit www.pmrg.com.

About Cushman & Wakefield

Cushman & Wakefield is the world’s largest privately‐held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world’s major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and assignments. Founded in 1917, it has 253 offices in 60 countries and nearly 15,000 professionals. It offers a complete range of services for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has more than $3.7 billion in assets under management globally. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge.