The weekly compilation of the San Francisco Bay Area metro’s biggest leases, sales, financing deals, construction updates, and personnel moves. Have news you’d like to submit?

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Southline, a 370K SF life sciences development in South San Francisco, obtained a $373M loan to finance the construction of the project’s first phase, from developer Lane Partners. The investment partners on the project include an affiliate of Beacon Capital Partners and Goldman Sachs Asset Management Real Estate group.

The loan was closed by Square Mile Capital Management, and Bank OZK provided the senior portion of the loan.

“We continue to invest into purpose-built lab developments in the strongest life science markets in the country and Southline fits squarely within this objective,” Square Mile Capital Managing Director Eric Cohen said in a press release. “We are thrilled to partner again with Bank OZK, as well as affiliates of Goldman Sachs and Beacon, to help create what will be one of the Bay Area’s most prominent new life science projects.”

Southline is a transit-oriented development located adjacent to the San Bruno Bay Area Rapid Transit Station. The first phase of the project will contain six stories of lab and office space, along with a six-story parking garage and amenities such as a fitness center, conference facilities and a restaurant.

Sacramento Bridge

SALES

San Diego-based Badiee Development sold a two-building industrial portfolio containing 308K SF of Class-A industrial space to BentallGreenOak last week. Cushman & Wakefield’s Jeff Chiate, Rick Ellison, Mikey Adey, Brad Brandenburg and Matthew Leupold represented Badiee in the transaction.

The sale consisted of Metro Air Park Logistics Center’s first phase in Sacramento.

“Metro Air Park Logistics Center is a core state-of-the-art logistics project positioned in a highly sought-after industrial and growing housing submarket in the Sacramento region. Driven by ongoing population growth — particularly from in-migration from the nearby SF Bay Area — Sacramento’s industrial market fundamentals remain strong,” Chiate said in a press release.

***

Pinole Square, a 91K SF retail property in the Tara Hills Drive area of ​​Pinole, California, traded hands last week. Balboa Retail Partners purchased the property from a private family investor located in the Bay Area.

Newmark’s Nicholas Bicardo and Cheyne Bloch facilitated the transaction. The purchase price was not disclosed.

“Pinole Square is a prime retail site that offers tremendous short-to-mid-term redevelopment opportunity along the I-80 corridor,” Bicardo said in a press release. “We have sold several retail assets similar to Pinole Square on the West Coast over the past 12 months and continue to see significant demand from capital for well-located retail sites.”

***

EKN Development Group and Appellation announced plans to open a luxury boutique hotel in Petaluma in 2026. The hotel will contain 93 rooms in the city’s downtown.

“From the beginning, we intentionally designed this hotel to pay homage to the integral role that food and wine play in Petaluma,” EKN Development Group CEO Ebbie Nakhjavani said in a press release. “We chose Appellation to bring this project to life because they uniquely put the culinary experience at the forefront of the guest experience and can offer a local Sonoma County perspective. Under Charlie and Christopher’s leadership, we know they will deliver the best in the industry.”

PEOPLE

Savills expanded its Bay Area project management team, adding Kristen Raymond to its roster as an associate director in San Francisco. Raymond will build on the firm’s project management capabilities and strategic advisory services in the Western region and across North America. Raymond previously held managerial roles with Presidio Bay Ventures.

Raymond brings over 20 years of construction project and real estate development experience across the public and private sectors. She specializes in large-scale projects, emphasizing core and shell, tenant improvement, renovation and modernization.

“The strategic growth of our project management capabilities in key markets has mirrored the continuing evolution of our clients’ needs,” Savills Vice Chairman and Head of Project Management Michael Glatt said in a press release.

THIS AND THAT

Sunset Development Co. and DSD Renewables partnered for Phase 2 of a renewable energy and solar installation at the Bishop Ranch office park, making the city of San Ramon home to one of the largest solar and energy installations in the country.

The second phase of this project will add 35,000 solar panels across Bishop Ranch’s office buildings, slated for completion in the first quarter of 2024. The project is expected to produce over 22 million kilowatt-hours of renewable energy, expected to offset the property’s energy usage by 90%.

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Just before the Hood Mountain Regional Park parking lot, a narrow road barely big enough for a car climbs into the forest. Paved in parts, the road twists and rises until it reaches a mountain meadow that has served as a family’s gathering place for five generations.

Offering sweeping views of Sonoma County, the 289-acre property, called El Recreo, burned in both the 2017 and 2020 wildfires.

But it has recovered slowly, and all the while shaped the lives of its caretakers in the Perrin, Bucklin, Tilt and English families. Now, in a deal with the Sonoma County Agricultural Preservation and Open Space District, El Recreo is set to remain preserved as conservation land.

The district is in the homestretch of purchasing a $898,000 conservation easement for the property – a complicated process that has taken about nine years, needing buy-in from all of the property’s 13 owners. The easement will extinguish future development rights on the land, meaning it would be permanently protected even if sold.

“It just seemed like the natural thing to do,” said Arden Bucklin-Sporer, whose family owns the property.

It borders Hood Mountain on the north side, overlooking Oakmont. The property will not be opened to the public and will remain available for the family’s private use.

But the benefits of preserving land like El Recreo as a conservation area extend beyond public recreation, said Lauren Alpert, a community relations assistant for the open space district.

“When you’re protecting areas like this you’re protecting watershed, clean air,” Alpert said. Wildlife habitat – the property takes in headwaters for both the Santa Rosa and Sonoma creek drainages – and scenic viewsheds are other conservation benefits.

Alpert added that El Recreo will also serve as an important wildland buffer for its neighboring developed communities including Oakmont and Kenwood.

This is not the family’s first foray into conservation. Bucklin-Sporer’s mother and stepfather were Anne and Otto Teller, local land stewardship visionaries who helped found the Sonoma Land Trust.

It was Bucklin-Sporer’s grandmother, Adelaid Perrin, who began that family legacy, when she purchased El Recreo for around $48,000 in the 1950s.

Born in Guatemala, Perrin spent her early childhood on a coffee farm until the family moved back to California following her father’s death from malaria, Bucklin-Sporer said.

An “ardent admirer” of nature, independent and with “energy off the wall,” Perrin turned her attention to finding a family retreat once her three daughters were grown. It was El Recreo’s wild meadow nestled near the top of the mountain that sealed the deal, Bucklin-Sporer said.

Over the years the family left much of the land untouched, but built two homes and a swimming pool near the meadow. It was there that Anne Teller would bring her four children from their home in San Francisco during the weekends, and for weeks during the summer. She used it to teach them self-sufficiency, economy and an appreciation for the natural world.

“I think all of us are the way we are because of this place,” Bucklin-Sporer said.

Growing up, Bucklin-Sporer and her siblings would ride horses, care for injured birds they found including owls and a vulture, and acquired skills including identifying animal tracks.

Many have since pursued careers connected to land stewardship and ecology, including farming, restoration and nonprofit work, Bucklin Sporer said.

Supervisor Susan Gorin, who represents the area encompassing El Recreo, praised the family’s “extraordinary legacy they have, and continue to leave.”

“You need to take responsibility and manage the land,” Gorin said. “Especially in threat of fire.”

The family is both city and country, Bucklin-Sporer joked as she walked a grassy path to a knoll on a recent sunny morning.

Strolling along in Birkenstocks, undaunted by the prickly underbrush and ever-present threat of rattlesnakes, Bucklin-Sporer chewed on a blade of grass and led the way to a knoll overlooking Hood Mountain. Her rescue dog Xochi followed behind.

The destination held special meaning. It is where Bucklin-Sporer’s brother got married, and where their grandmother, mother and aunts’ ashes now rest.

“They burned twice so that’s good,” Bucklin-Sporer said, sharing some of her dry humor as she referenced the 2017 and 2020 wildfires

The wildfires ripped through El Recreo, leaving behind scorched trees and taking the family’s two homes.

The foundation and chimney of the house that Bucklin-Sporer’s parents built stood still. A partial brick wall also remains, holding a rusted sign bearing the home’s 8000 address.

Bucklin-Sporer said she visits the site frequently to check on its status.

The loss was devastating.

Though the family’s many generations are now far flung, with members in San Francisco and beyond, El Recreo remains their heart, Bucklin-Sporer said.

The property now serves as their camp. Two tents and an Airstream trailer sit around a pool that survived the fires at the far end of the meadow. An outdoor wooden stand spruced up with string lights and complete with a sink, grill and griddle make up a kitchen of sorts.

The choice to keep the property “wild” is a reflection of Perrin’s love for all things nature, and Anne Teller’s commitment to low-impact living, Bucklin-Sporer said.

“That was my mother’s perspective,” she noted. “You want to keep it simple, you don’t want a lot of water use, you want to keep it thrifty.”

Following the wildfires, the family has watched the land grow back slowly and in some surprising ways.

Bucklin-Sporer said they have seen new types of woodpeckers on the property, as well as more quail.

Her youngest son, August Sporer, 30, observed that more wildflowers are visible in the places where trees burned.

The conservation deal allows the owners to build two homes on the property, to replace the ones that burned. Bucklin-Sporer and her siblings and cousins ​​have left that decision to the next generation.

“I’m curious and keen to know what they want to do with it,” Bucklin-Sporer said.

The rest of the property will remain as is, and much like it was decades ago.

August Sporer praised the decision.

“This was a fantastic way to make sure this stays in the family,” Sporer said.

You can reach Staff Writer Emma Murphy at 707-521-5228 or emma.murphy@pressdemocrat.com. On Twitter @MurphReports.

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Pictured (left to right): Yasemin Kologlu, Kimberley Petredis, Caleb Anderson, Laura Kohler

Kohler Company partnered with The Real Deal and Best Plumbing Supply to host an event at the Kohler Experience Center in New York City during Climate Week 22′ which brought together a trio of AEC experts about the responsibility manufacturers and the development community have in addressing major societal shifts like climate change, water shortages and urbanization. With a rapidly aging and increasingly urban population, the discussion led by Kohler Company SVP Human Resources, Stewardship and Sustainability, Laura Kohler, kicked off with an urgent call to action to design sustainable products, living and working spaces that reduce environmental impact while accounting for changes brought about by climate instability. It continued with an urgent call to action for manufacturers and the build industry to unlock consumer adoption of more environmentally friendly products.

“The market is changing,” said Yasemin Kologlu, Design Principal at SOM (Skidmore, Owings & Merrill), a leading architecture and engineering firm with studios in the United States and the UK. “As designers, it’s our job to make sure that sustainability can be delivered at every price point. I don’t think that should be our excuse any longer.” Kologlu pointed out that companies like Kohler producing a wider range of sustainable products help her in her role as a designer, giving her the ability to address climate impact at “every level of society.”

Caleb Anderson, Partner at Drake/Anderson emphasized the importance of teaching clients and consumers about the importance and benefits of environmentally friendly designed products and spaces. “Our responsibility as an industry is to come together and educate people,” said Anderson, who went on to say that sustainable products often set themselves apart from the rest of what’s on offer by virtue of their sustainability. “When we show clients an innovative material that we are excited about, it makes them excited.”

“One thing that people have always been really great at is rising to an occasion and innovating out of a problem,” said Kimberley Petredis, Director of Residential Interiors at FXCollaborative in Brooklyn. Petredis, who works with big-name developers around New York City, mentioned that she has seen an increased interest in sustainable design in the last couple of years, thanks in part to individuals recognizing the need to address climate change as well as more budgetary concerns . “Depending on what kind of product it is, you might actually be saving money in the long run by paying more upfront.”

Laura Kohler tied things up with a few lessons that she had gleaned from the discussion. She used Kohler’s WasteLab as an example of her first lesson, that design and engineering don’t have to conflict with sustainability. The WasteLab, which takes materials destined for the landfill and repurposes them into manufactured materials like tiles, has taken off since its inception in 2019, with more demand for the products than the firm can meet. “Let’s try to use easy-to-understand language. Let’s bring everybody with us. Everyone’s participation counts.” After all, it’s all of our futures that are at stake.

“We’re starting to see a lot of really interesting products and solutions,” said Caleb Anderson, who got the last word. “The exciting thing to me is that with the challenge comes newfound creativity and innovation.”

The second lesson related to what Caleb Anderson said about generating excitement around sustainable products, and Kohler emphasized the importance of the company’s associates in creating positive energy around products like those from WasteLab to build the momentum needed to make real change happen. The third lesson related to the need to produce environmentally friendly products at multiple price points now, not at some distant point in the future, calling back to Kimberley Petredis’s point that demand for these products grows every day.

Finally, Kohler closed out the discussion with a call for the AEC industry to be inclusive when talking about sustainability.

Ready to learn more? reach out to [email protected]nyc.com today to make an appointment at their showroom to see the experience.

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Former Kansas City Chiefs cornerback Charvarius Ward intends to sign a three-year deal worth up to $42 million, including $26.7 million guaranteed, with the San Francisco 49ers, his agency, Universal Sports & Entertainment Management, told ESPN’s Adam Schefter on Monday.

Ward, who turns 26 on May 16, has been a regular in the Chiefs’ starting lineup since late in the 2018 season, when he joined the team as a rookie after a trade with the Dallas Cowboys.

Ward was a significant part of the Chiefs’ defensive turnaround this past season. He is big enough to play press-man coverage and was an excellent tackler during the regular season, missing only 5% of his attempts, according to Pro Football Focus data. That was the lowest rate for a cornerback since 2019.

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In four seasons with the Chiefs, Ward played 67 games with 53 starts. He had four interceptions.

He appeared to put the Chiefs in Super Bowl LIII with his interception of a Tom Brady pass late in the fourth quarter of the 2018 AFC Championship Game, but teammate Dee Ford was penalized for lining up offside to nullify the play. The Patriots wound up winning in overtime to advance to the Super Bowl.

His addition will be the most significant commitment the 49ers have made at cornerback since coach Kyle Shanahan and general manager John Lynch arrived in 2017. But it was also a needed one after the Niners cycled through eight starting corners in 2021 because of various injuries.

And though San Francisco finished sixth in the NFL in passing yards allowed, the Niners also were 29th in completion percentage allowed (68.3%) and 26th in opponent QBR (51.3).

Ward should be able to help in both areas. According to NFL Next Gen Stats, he allowed the second-lowest completion percentage among defensive backs last season at 45% and the lowest average separation on targets (2 yards).

Ward’s contract would indicate he’s set to step in and start opposite Emmanuel Moseley, who is entering the final year of a two-year contract he signed in 2021. With nickel cornerback K’Waun Williams an unrestricted free agent, the Niners could turn to a rotation that involved Ward starting opposite Moseley with Moseley moving into the slot in nickel packages and second-year cornerback Ambry Thomas on the outside.

ESPN’s Adam Teicher, Nick Wagoner and Kevin Seifert contributed to this report.

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South San Francisco education and city officials are currently working on terms of an agreement that sets out rules and expectations for police officers who work as liaison officers on the school premises.

Formative discussions on the matter took place on Tuesday, June 8th, during a subcommittee meeting between members of the South San Francisco City Council and the South San Francisco Unified School District.

No decision has been made as the administrators of each agency are refining specific details in hopes of ultimately reaching an agreement that both sides find suitable for adoption. But the effort to pass a Memorandum of Understanding marks a more formal approach to the program, which was criticized by the community over the past year.

“This is an important conversation and I’m glad we’re talking about it,” said Vice Mayor Mark Nagales, who applauded staff from both agencies working on the initiative and community members for the exchange of views.

The discussion came after a decision by school district officials in March to maintain the order to place two police officers on the local campus, despite calls from social justice advocates to terminate the program.

According to the decision, school officials agreed to negotiate a letter of intent that defines the roles and responsibilities of officials on the district campus. The signed document will clarify the ambiguity left by an oral agreement between the two agencies that formed the program three decades ago.

Police Chief Jeff Azzopardi, who is working with school district administrations to create the memorandum, said he expected the formalized agreement to require new approaches from educators and police.

“Both sides need to change the way we do this,” he said.

To that end, the memorandum sets the boundaries for officials investigating potential crime or danger on school premises. It requires officials to contact administrators before conducting searches and prohibits students being interviewed without a parent or guardian being present.

Additionally, the proposed arrangement seeks to discourage students from being arrested at school, requiring that school management be consulted prior to arrest and that parents or guardians be notified.

It also aims to distinguish between school discipline issues that are appropriate for district staff to resolve and potential criminal incidents that require police intervention.

For his part, Azzopardi said the new regulations could require police officers to change their approach to responding to problems in schools. But similarly, he suggested that school officials reconsider their expectations about the frequency with which officials are called onto campus.

“We can only go so far from our side,” said Azzopardi, who noted that there have only been two incidents in the past two years of someone leaving a campus in handcuffs – one as a student and the other as a teacher.

Police are funding the program and city officials said they intend to continue funding the program. However, if school officials determine that special training is needed to better equip officials to deal with students, the agreement shifts that financial obligation to the county.

Such a proposal angered members of Change SSF, a progressive political action group that strongly opposed the school officers program, fearing it would power the school-to-prison pipeline and allow the police to change to monitor students.

Instead of putting additional financial burdens on a district, which often demands higher teacher salaries, SSF officials called on Change to terminate the program and reallocate these resources to other student care services.

City Manager Mike Futrell said officials were still required to fund the program and training officers, but added the term to refer to special training funding to help protect the city financially.

“We don’t want the district to come up with a long list of training courses and we expect the city to pay for it,” he said.

Aware that more work is needed on the proposal, officials recognized the foundations in place and hoped that a formal agreement could be reached before the start of school in August.

“This is a starting point,” said Daina Lujan, president of the school board.

In other areas, the two sides suggested renaming the community learning center in South San Francisco after former congregation member Gene Mullin. Mullin, who died in April, was a teacher in the district for 30 years and a former mayor and councilor.

Mayor Mark Addiego praised the proposal, noting that renaming the center, which offers programs that benefit both the city and the school district, would properly commemorate the educators and city officials.

“He was a special bridge between education and government,” said Addiego.

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AC Milan are slowly closing the gap between themselves and Brest to sign Romain Faivre, reportedly claim.

According to the latest information from Alfredo Pedulla (via PianetaMailan), Milan wants Faivre and Brest’s request was 15 million euros plus bonuses, now it has gone down and the gap between the offer and the Ligue 1 club’s claims is around 2.5 Million Euros.

The contacts have intensified in the last few hours and all because the talks for Jesus Corona from Porto are in a stand-by phase, while for Junior Messiah there have been no further talks with Crotone in the last few hours.

Milan continue to push Faivre, according to Eurosport’s Guillaume MP. The discussions focus on the amount requested by Brest, which the Serie A club would like to reduce. Negotiations are ongoing, but the gap between supply and demand (around € 15 million) is narrowing and the deal is moving forward.

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WASHINGTION (BCN) – After the U.S. Senate passed an infrastructure bill this week, California is poised to receive billions of federal dollars, Senator Alex Padilla said on Wednesday.

However, the $ 1 trillion bipartisan legislative package has yet to be approved by the House of Representatives before the money goes into the state.

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Padilla, who was attended by San Jose Mayor Sam Liccardo and San Diego Mayor Todd Gloria for a press conference Wednesday, said he was excited about what the funding could do.

“With the package that has already been approved, California will receive tens of billions of dollars to modernize its physical infrastructure, improve public transport and ensure safe drinking water,” said Padilla. “California knows all too well that these investments cannot come soon enough.”

For Californians, Padilla said the priorities are health care – as the COVID-19 delta variant spreads – economic recovery and climate change as the state faces another drought and forest fires.

Padilla specifically pointed out a new federal program aimed at electrifying the country’s school bus fleets in order to make the switch from diesel to zero-emission buses.

“This is great for the environment, great for public health, and great for academic achievement because healthy children learn better,” he said.

The Senator also highlighted grants cities can apply to weather critical infrastructure and be better prepared for drought and forest fires.

For San Jose and the Bay Area, Liccardo said these grants are critical.

“Of course, like so many others, we are aware that investments in the railways, in the water infrastructure, in the resilience of the networks and in the climate mean jobs,” said Liccardo. “And for us that is the way to a just economic recovery.”

He said his South Bay city could apply for grants and secure funding from the $ 5 billion that will harden the power grid to offset forest fire threats and $ 8 billion for water infrastructure.

The mayor said that if he received the money, it would quadruple the amount of recycled groundwater San Jose produces, which is currently 8 million gallons a day.

“Groundwater replenishment could be a great way for us to recycle water to expand our supply and to do so in an environmentally friendly way,” said Liccardo.

“And it couldn’t come at a better time,” Liccardo said as Santa Clara County and much of the state grapple with shockingly low reservoir levels and a severe drought.

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Funding the infrastructure bill could also ensure San Jose receives enough cash for the BART expansion, which would bring more than 100,000 passengers from the city’s Diridon Station to San Francisco, Oakland, and the rest of the BART system.

“Diridon Station (would) ultimately become the busiest multimodal facility in the area with seven different transit lines,” Liccardo said, emphasizing that BART expansions could also connect San Jose-based employees with more affordable housing in the Central Valley.

In line with the bill’s traffic-focused goals, San Jose could also receive funding from the $ 5 billion allocated to Vision Zero projects that aim to stop pedestrian and automobile deaths by installing flashing pedestrian lights and protected bike lanes and signal upgrades, among others.

Another important aspect of the infrastructure law for Liccardo is the funding to close the digital divide.

He cited federal and local funding over the past two years that has enabled San Jose to support more than 100,000 residents – many of whom are low-income – and connect them to free community Wi-Fi in their own homes.

“We plan to expand this to more than 300,000 San Jose residents by next year,” Liccardo said. “And this investment in funding from the federal government will be of decisive help.”

So with infrastructure bills funding, 27 percent of Californians – more than 10 million people – are eligible for the affordable connectivity program, which offers discounts of up to $ 50 per month on broadband bills.

“And that’s so important because we know that cost is the main obstacle,” said Liccardo.

The Affordable Connectivity Benefits Program is also just one of many programs listed in the Broadband Services and Access Improvement Bill, for which the Senate has allocated more than $ 100 billion.

For Padilla, the unifying thread in the infrastructure law and its focus on justice, he said.

“Far too often, the communities most impacted by the environment invest the least in or see fewer opportunities when it comes to major infrastructure investments,” said Padilla.

It is unclear when parliament will vote on the bipartisan infrastructure law.

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SAN FRANCISCO (AP) – Digital payments company Square Inc. says it has agreed to acquire Afterpay, which gives merchants a “buy now, pay later” option in an all-stock deal valued at approximately $ 29 billion offers.

Square said Sunday it had agreed to buy all of the shares in the Australian company and that the estimated value of the transaction was based on the closing price of Square’s common shares last Friday.

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Square enables retailers to process credit card transactions with devices that plug into tablets or smartphones. The San Francisco-based company said the acquisition is expected to close in early 2022.

The company plans to integrate Afterpay into its services so that merchants can offer their customers the option of paying for goods later without a credit card. Afterpay users could manage their installment payments right in Square’s Cash app.

“Square and Afterpay have a common purpose,” Square CEO Jack Dorsey said in a statement.

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About 70 million people use Square’s Cash app. As of June 30, Afterpay served more than 16 million users and nearly 100,000 merchants, including large retailers, the company said.

Installment payments are popular with retailers as they encourage customers to spend more money. And they allow customers who do not have sufficient credit or credit at the time of purchase to leave a store with the item they want. Payments are made in multiple installments without interest over time – unless customers are late, in which case additional fees or interest may apply.

“Afterpay is deeply committed to helping people spend money responsibly without incurring service fees for those who pay on time,” said a joint press release announcing the deal.

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The shares of PG&E Corp. PCG, + 0.77%, rose 0.9% in pre-trading on Monday after the California-based utility announced an agreement to sell its San Francisco headquarters to Hines Atlas US LP for $ 800 million. The utility announced that it would distribute the proceeds of $ 390 million to $ 420 million in sales to its customers, subject to approval by the California Public Utilities Commission (CPUC). The company remains on track to move into its new Oakland, California headquarters in the first half of 2022. “This sale and relocation will generate cost savings that will directly help reduce customer bills,” said Chief Executive Patti Poppe. “At the same time, it will give us an efficient and effective place to work in the Bay Area as we focus on serving all of the communities in which we operate.” Separately, the company announced that it would consolidate two more California properties in San Ramon and one in Concord into the new headquarters in Oakland. The stock is down 17.5% year-to-date to Friday, while the Dow Jones Utility Average DJU, + 0.07%, 5.1% and the Dow Jones Industrial Average DJIA, + 0.44%, down 10.6% % has increased.

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SAN FRANCISCO (KRON) – Pacific Gas & Electric sells its San Francisco headquarters.

The $ 800 million deal was announced on Monday.

Hines Atlas US LP will acquire the PG&E complex at 77 Beale St and 245 Market St pending approval from the California Public Utilities Commission to repay the net income generated by the sale to PG&E customers.

The utility company will move to a new location in Oakland.

The new PG&E headquarters at 300 Lakeside Drive will be ready for occupancy by 2022 – and is expected to cut costs for the utility company.

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“We work hard every day to make fundamental changes to PG&E and to deliver what our customers expect and deserve,” said Patti Poppe, chief executive officer of PG&E Corporation. “We are committed to keeping customer costs as low as possible. One way to do this is to sell non-core assets, including real estate. This sale and move will result in cost savings that will directly help reduce customer bills. At the same time, it will provide us with an efficient and effective workspace in the Bay Area as we focus on delivering for all of the communities we serve. “

PG&E will propose to CPUC to distribute over $ 300 million from sales to customers to offset future customer tariffs.

PG&E also plans to consolidate two additional satellite office locations in East Bay – 3401 Crow Canyon Road in San Ramon and 1850 Gateway Boulevard in Concord – into its new headquarters in Oakland.

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