Case: Hamilton Landing

  • Hamilton Landing Exterior 01 CMYKProperty: Hamilton Landing – Novato, CA
  • Scope: 465,000 SF of first class office space
  • Challenge:
    • In late 1998, Barker Pacific acquired 7 dilapidated former military airplane hangars from a San Francisco developer and its partner, a major New York based fund. The hangars had sat empty since 1974 at which time the air force had closed the Hamilton Air Force Base. The hangars were not historical and had interesting architectural features. However, they were located over a mile from the freeway with no visibility, no nearby office tenants and thus no established local market. The entire Novato submarket was just over 1M SF. and had little evidence of built in growth potential.
  • Solution:
    • By early 2000 the first hangar had been converted to a first class office building of two stories comprising 57,000 SF. At completion, in 2001, the first building was 100% leased with Smith Hawken serving as the anchor tenant.
    • Over the next several years the remainder of the hangars were converted to office space now comprising over 400,000 SF. The project reached 100% leased in 2009 and includes a blue chip roster of tenants such as: Disney, Take Two Interactive, Oracle, Activision, Sony ImageWorks, Birkenstock, Marin Community Foundation, the YMCA and numerous others.
    • The project has won numerous awards for its unique energy saving “green” features and its trend setting design. The project is owned in a partnership with Prudential and managed by the Barker Pacific team. The project is financed by JP Morgan Chase.
  • Acquired: 1998
  • Completed: 2008
  • Partners: Prudential, Baupost Group, and BPG