Cushman & Wakefield Advises on Sale of 90 Unit $3,600,000 Residential Development in Rohnert Park

August 8, 2017 – Cushman & Wakefield’s Northern California Multifamily Advisory Group has advised Aldridge Development on the sale of a fully entitled development site approved for a 98,446 square...
Avram House Cushman

August 8, 2017 – Cushman & Wakefield’s Northern California Multifamily Advisory Group has advised Aldridge Development on the sale of a fully entitled development site approved for a 98,446 square feet multi-family development. Located at 100 & 120 Avram Avenue and 6770 Commerce Boulevard, in Rohnert Park, CA, the project received site plan and design review approval from the city of Rohnert Park in March 2017.

Blackpoint Management purchased the five building development, which has been approved for 90 units and is located on 2.26 acres directly adjacent to City Hall. The design features five three and four-story buildings with a combination of surface and tuck-under parking garages in an eco-functional design implementing environmentally sustainable elements and modern construction methods.

The sale of the asset was led by Cushman & Wakefield’s Jason Parr, Senior Director, Northern California Multifamily Advisory Group.

The property is located ¾ of a mile west of the Rohnert Park SMART station via the Copeland Creek Trail, a convenient and popular pedestrian and bicycle path.

According to Jason Parr, “This uniquely modern asset is a state of the art development and a positive sign for multi-family development projects here. Looking ahead, we believe commuting to San Francisco from the North Bay will become a viable option once again and this effect is expected to increase renter demand in Marin and Sonoma County communities, especially those along the Sonoma-Marin Area Rail Transit (SMART) line such as Rohnert Park.”

Categories
Bay AreaCommercialDealsMultiFamilyNationalSalesSan FranciscoWest

RELATED ARTICLES