NKF Arranges Bay Area Office Lease Renewal
- Aug 24, 2020
Newmark Knight Frank has arranged an 85,000-square-foot lease renewal at 20 Davis Drive, an office building in Belmont, Calif. Vice Chairman Ben Stern, along with Executive Managing Directors Jon Cannon and Joe Hamilton represented the tenant, RingCentral. Executive Managing Director Mike Moran and Executive Director Clarke Funkhouser of Cushman & Wakefield acted on behalf of the landlord.
Built in 1980, the Class A building features a floor-to-ceiling glass atrium, full-service kitchen and on-site cafe. The property also includes parking at a ratio of 3.5 spaces per 1,000 square feet. According to Yardi Matrix, The Raiser Organization is the owner of the asset.
Located on nearly 6 acres in San Mateo County, the three-story building is 2 miles from Interstate 280 and 14 miles from San Francisco International Airport. Carlmont Village Shopping Center, the nearest retail hub, is approximately 1 mile to the east.
In June, an NKF team including Stern assisted biotech firm GRAIL Inc. to find a suitable city and site for to establish a $100 million laboratory facility. The property in Durham, N.C., is scheduled to open in 2021.