Lauren Herstik

Los Angeles

Reporter at The New York Times

Reporter at Bisnow

writer @nytimes @KCET Netflix: American Vandal S1, USA: Pearson

Articles

BKM Capital Picks Up 165K SF Industrial Park In Fremont For $43M

1 week ago | bisnow.com | Lauren Herstik

BKM Capital Partners has acquired the 165K SF Hannover Industrial Park in Fremont for $43M, marking its latest bet on Silicon Valley’s high-demand I-880 Corridor. In December, the company also acquired Gateway Business Center, a 95K SF business park at 4500 Fremont Blvd. off I‑880 in Fremont, and Shoreline Business Center, an 8K SF property also located directly off I‑880. Hannover Industrial Park consists of six buildings, and 14% of the square footage is office space. The property is 74% occupied.
Bishop Ranch Lands Its Largest New Lease Of 2025 With Skincare Brand Face Reality

1 week ago | bisnow.com | Lauren Herstik

Bishop Ranch landed its biggest new tenant of the year, with acne treatment brand Face Reality signing a 38K SF headquarters lease in the Orchards area of San Ramon, the San Francisco Business Times reported. The skincare company signed the largest of 15 new leases at Bishop Ranch this year, totaling 254K SF. This is in addition to another 37 lease renewals. The entire development has 5M SF of Class-A office space in addition to 1M SF for retail and entertainment.
Hudson Pacific Offloads Its Most Vacant San Francisco Office Property In $28M Deal

2 weeks ago | bisnow.com | Lauren Herstik

In line with its 2025 strategy to look for savings and strengthen its balance sheet, Hudson Pacific Properties offloaded 625 Second St. for $28M, half of the 2011 purchase price. Frontline Realty Capital and Triyar Realty Group picked up the 138K SF building, which was 38.7% occupied as of the end of 2024. It was the most vacant building in Hudson Pacific’s 2.4M SF San Francisco office portfolio, the San Francisco Business Times reported.
Uptown Oakland Outpaces Downtown as New Submarket Takes Shape

3 weeks ago | bisnow.com | Lauren Herstik

A renaissance in downtown Oakland remains largely stalled after the pandemic emptied the area’s businesses, but northeast of the central business district, another submarket is blossoming. Uptown Oakland, which generally starts at 15th Street and extends toward Lake Merritt, has outstripped downtown Oakland by a significant margin to become a major hub of the city’s renewal.
This Month's Bay Area Deal Sheet: Manova Partners Picks Up 62K SF Class-A Office in San Mateo

3 weeks ago | bisnow.com | Lauren Herstik

Manova Partners, the Munich-based property investment manager, purchased Parallel on Fourth in downtown San Mateo. The mixed-use property has 15 residential units above 62K SF of Class-A office space. Verkada Inc. occupies 100% of the office space and holds a master lease on 13 of 15 residential units. Partner Eric Ramm negotiated the transaction for Manova Partners. Will Connors and Adam Lasoff of JLL marketed the property.
Brookfield Buy Of $93M Loan Backing San Francisco Office Falls Through

3 weeks ago | bisnow.com | Lauren Herstik

Brookfield walked away from a pending agreement to acquire a $93M loan backed by 101 Mission St. from senior lender ING. The deal fell apart after Brookfield and ING failed to reach consensus with other lenders, according to the San Francisco Business Times. Vanbarton Group bought the property in 2018 for $163.3M but defaulted on its loan in 2024, according to the San Francisco Chronicle. Brookfield’s offer would have valued the 21-story tower at half the 2018 price, closer to $80M.
Market Center Trades Hands In Biggest San Francisco Office Deal Since 2022

3 weeks ago | bisnow.com | Lauren Herstik

Flynn Properties and DRA Advisors acquired Market Center, a two-tower complex with 770K SF of Class-A office space in the Financial District. Market Center in San Francisco sold for $177M, a significant discount to its last purchase price. The purchase of 555 and 575 Market St. represents the city’s largest office deal since 2022 and could signal a turning point for the beleaguered downtown office market.
Bucking Biotech's Downward Trend, Circle Pharma Heads To Larger Space

1 month ago | bisnow.com | Lauren Herstik

Circle outgrew its previous home at Lilly Gateway Labs, and its lease was nearing its expiration. The incubator space there was intended for companies of 20 or fewer employees. Circle Pharma Inc. had expanded to 60 employees. The transaction is notable in an unstable time for the life sciences real estate sector. A glut of new supply is up against demand challenges recently fueled by major cuts to federal research and development funding, along with layoffs and other economic challenges.
Site Of BXP's Huge San Jose Office Project Up For Sale

1 month ago | bisnow.com | Lauren Herstik

A site once poised for a massive development near the San Jose Convention Center is for sale. The outlook for downtown San Jose became a little less certain as the site of BXP’s proposed tech and office campus went up for sale, according to The Mercury News. The project, Platform 16, would have totaled 1.6M SF and spanned a full city block. The company never broke ground and pressed pause on it in 2023, citing unfavorable market conditions.
Parkmerced Receiver Douglas Wilson Cos. Plans $70M Renovation

1 month ago | bisnow.com | Lauren Herstik

Douglas Wilson Cos. has taken control of Parkmerced, the massive San Francisco apartment complex, with plans to pump $70M into repairs. A San Francisco Superior Court judge granted lenders Barclays and Citigroup’s request to put San Francisco’s largest apartment complex into a receivership on March 6 after its owner, Maximus Real Estate Partners, defaulted on $1.8B in loans. The 3,221-unit property is 80% leased.