Marin County Submarkets - Keegan & Coppin Company, Inc.

Marin County

Marin County, at the northernmost tip of the San Francisco metropolitan area, is one of the most vibrant communities in the United States.

Its population is one of the wealthiest, healthiest and most highly educated in the nation. The expanding economy acts as a global talent magnet and employment hub. Marin has a long history of being home to vibrant companies in innovative fields. Marin’s unparalleled quality of life continues to attract new residents and reinforces residential property values. Residents enjoy exceptional school districts, easy access to a multitude of recreational activities, and breathtaking natural beauty. From all perspectives, Marin remains in high demand, with a dynamic economy, a desirable lifestyle, and a direct link to the urban core of the San Francisco Bay Area.

Marin remains a key component to the regional stability of the greater San Francisco Bay Area. Its low 2.7% percent unemployment rate is a sign of the County’s robust economic health. A diverse workforce generates more than $25 billion of annual personal income, while a very healthy business community contributes to the growth of the North Bay region.

Historically this county has been home to companies in the forefront of their industries. Fair Isaac had its beginnings in Marin, as did Lucas Films, Restoration Hardware, Autodesk, Glassdoor, Westamerica Bank and many more. Life science and biotech companies, most notably BioMarin, the Buck Institute and Ultagenyx, are currently expanding in the market, attracting talent and creating an atmosphere of innovation. The service industries, retail, tourism and healthcare are booming, resulting in very low vacancies, exceptionally high rents and strong property values.

The Marin commercial real estate market accommodates these broad and diverse industries, with 7.6 million square feet of office space, 6.4 million square feet of industrial space, and 6.4 million square feet of retail space. Across all market sectors, vacancy rates consistently remain healthy, and are an indication of Marin’s constantly growing and resilient economy. For the investor, Marin County presents a stable, supply constrained market, with secure sources of income. Marin investment property remains in high demand, commanding high prices commensurate with a well established market, and reliable, long term appreciation.

Marin County and its commitment to sustainable development will continue to attract dynamic individuals and organizations. The long standing tradition of investment in technology, industry and the service sector secures Marin’s high standing throughout the Bay Area and state.

Novato

Novato is the northernmost city in Marin County and is also the county’s second largest commercial hub. Consisting of 2,596,821 square feet of office space, 1,778,659 square feet of industrial space, and 1,615,760 square feet of retail space Novato offers a diverse and dynamic commercial real estate inventory. Economic drivers include healthcare, finance, technology, and biotech while major companies include BioMarin, Sutter Health, Birkenstock, Bank of Marin, and The Buck Institute for Age Research.

The recent relocation of Fireman’s Fund Insurance from its former campus on San Marin Drive has been at the top of local conversation with the Novato Economic Development Department working hard to attract a large technology company to the mostly vacant campus while other political players are pushing for a redevelopment to housing.

The new SMART commuter train is currently serving two stops in Novato; one at San Marin Drive at the north end of the town and the other adjacent to the Hamilton area in Southern Novato. There is a push to bring online a third stop that would serve the core downtown area.

Major Business Parks

San Marin Drive Office Park
The largest office campus in Marin County with 777,000sf of Class “A” office space on 63 acres. The campus formerly known as the Fireman’s Fund Headquarters includes three buildings; building 773 consists of approximately 255,472sf, building 775 consists of 227,429sf and building 777 consists of 227,429sf. The campus was built in 1983 and is located 21 miles north of the Golden Gate Bridge immediately adjacent to Highway 101, allowing for easy access to public transportation. Campus amenities include an on-site café, fitness facility with men and women’s lockers, game room and recreational on-site walking, mountain biking, running trails, picnic tables, softball/soccer field and volleyball courts. The campus also boasts a Solid Oxide Fuel Cell energy source (equivalent to 3 football fields of solar panels) and is LEED certified.
Downtown Novato
Consists of several high identity office buildings including the 90,214 square foot Woodside Office Center, the 44,593 square foot Northbay Center located at 7250 and 7200 Redwood Boulevard respectively. The downtown core also includes most of Novato’s street retail space consisting of approximately 283,000 square feet of small retail and commercial service spaces as well as the Downtown Novato and Novato Fair Shopping Centers. Downtown also includes a small industrial corridor on and around Vallejo and Sweetster Avenues which has many automotive repair shops and other industrial service businesses.
Rowland Plaza
Consists of four Class “A” office buildings, each three stories tall, totaling 287,328 sf plus the Sutter Health operated Novato Community Hospital which also offers 52,000 square feet of medical office space. The Office complex offers easy access to Highway 101, Vintage Oaks Shopping Center, public transportation, Moylan’s Brewing Company and more. Larger tenants include PRIMA Medical Group, County of Marin, and Woodruff Sawyer & Company.
Pell Plaza
This plaza is at the south end of town was built in 1991 and consists of 164,680sf high-visibility Class “A” office space. Amenities include adequate onsite parking, lockers and showers. Tenants include Winery Exchange and Bank of Marin.
Bel Marin Keys Industrial Park
Previously known as the Hamilton-Ignacio Industrial Park, it contains most of Novato’s 1.7 million square feet of industrial and light industrial buildings. It provides easy access to Highway 101 and many amenities including Hamilton Marketplace and Pacheco Plaza shopping centers.
Hamilton Landing
This is the redevelopment project of the former airplane hangars at the Hamilton Field Air Force Base consisting of 9 buildings totaling 535,000sf making Hamilton Landing one of the largest multi-tenant business parks in the North Bay. Large tenants include Take-Two Interactive, Raptor Pharmaceutical, Activision-Blizzard, Meritage Medical Network, EDG Interior Design and the Marin YMCA.

San Rafael

San Rafael is Marin County’s central hub and most populous city. It is the seat of the county government, as well as the business and cultural center. The downtown core is a vibrant, pedestrian-friendly area with a dynamic mix of shops and restaurants. The wide variety of lively cultural events throughout the year, such as the Half-Marathon and Triathlon, the Marin County Fair, the Italian Street Painting Festival, the events hosted by the California Film Institute during the Mill Valley Film Festival, the Christmas Lighted Boat Parade and the incredibly diverse cultural activities at the Civic Center auditoriums distinguish San Rafael as the cultural heart of the county.

The concentration of city and county government services provide a keystone for activity in the county, and the easy access to transportation and major thoroughfares have cemented San Rafael’s role as the point from which all County business activity radiates. With its strategic location and easy access to Highway 101 and Interstate 580, San Rafael is home to a number of growing and well established companies; Autodesk, Inc., Fair Isaac and BioMarin, to name a few.

The city has a number of different neighborhoods, although the Northgate /Civic Center and the downtown areas accommodate most of the commercial districts.

Downtown San Rafael:

Downtown San Rafael is the County’s urban center and financial district. It is home to Bio Marin’s corporate campus, as well as housing the Marin offices of most leading national financial institutions. Local and regional law firms, financial services companies and similar businesses are attracted to downtown San Rafael, both for higher quality office opportunities as well as the conveniences and amenities the area provides. It is a convenient location for commuters with easy access to Hwy 101, Interstate 580, and the downtown transit center that serves the commuter buses and the SMART train.

North San Rafael:

Commonly referred to as Terra Linda, this area is home to a large inventory of Class A office buildings, a regional shopping center, the Marin County Civic Center and the Northgate Industrial Park. The Northgate Industrial Park is a mature light industrial zone, with a relatively large inventory of industrial warehouse buildings and affordable office properties. The commercial inventory of North San Rafael is conveniently located directly along Hwy 101 and offers first rate opportunities for small and large companies alike.

Bahia de Rafael Industrial Park

This area generally consists of the commercial district along Interstate 580 from Bellam Boulevard to the Richmond Bridge. Although some top quality office buildings are located in this area, it is primarily known for its dense concentration of high quality warehouse and industrial properties. Because of the area’s unparalleled location, it has long been known as being a hub of incubator spaces for technology companies. Both Lucas Digital and Pixar, for example, started in this area of San Rafael.

West Francisco & The Canal

These areas of San Rafael straddle the East and West side of Hwy 101 just south of Downtown San Rafael and are the primary industrial markets in the County of Marin. Characterized by relatively small industrial buildings, this market is driven by service related industrial and light office users such as automotive repair, home improvement and construction related industries.

Central Marin

The Central Marin submarket, defined by the Corte Madera – Greenbrae – Larkspur corridor, constitutes the commercial core of Marin County. The character of this submarket is defined by its specific urban landscape. At the confluence of several major transportation arteries, both local and regional, this submarket is a hub of local infrastructure and business.

The central Marin market enjoys tremendous ease of access. Two major interstate freeways, highways 101 and 580, intersect at Sir Francis Drake Boulevard, which is also the principal artery linking the bay to the Pacific coast. The Golden Gate Larkspur ferry provides regular direct service to downtown San Francisco for both commuters and visitors, and the planned SMART train station will provide a transportation link between the North Bay counties and San Francisco.

Community services are heavily concentrated in Central Marin. Marin General Hospital is the only full-service acute care hospital in the County, and its sphere of influence extends throughout Greenbrae and Corte Madera, creating a cluster of medical providers in the South Eliseo and Tamal Vista corridors. This area is also an educational point of convergence. The College of Marin, the county’s only community college, offers associate degrees and vocational studies programs to over 10,000 students per semester, while the area is also home to an abundance of primary and secondary schools, both private and public. The Department of Motor Vehicles in Corte Madera is one of many public agencies serving the greater county community.

Much of Marin County’s retail activity is focused in Central Marin. The Village at Corte Madera is the county’s only upscale mall, while on the other side of the freeway, the Town Center provides a much appreciated shopping and dining venue. The Marin Country Mart is the newest addition to the central Marin retail landscape, with unique boutiques and restaurants and a weekly farmers’ market. The Bon Air Center, with over fifty locally serving shops and restaurants, has a 65 year legacy of serving the local community.

Central Marin is home to several Class A office complexes. Larkspur Landing, currently known as “The Exchange”, Wood Island, Drake’s Landing, the Town Center, and the Tamal Vista corridor are home to thousands of businesses, drawn to the area by the easy access and the amenities. A small industrial zone on the eastern side of the freeway serves small businesses as well as national brands, such as Restoration Hardware.

Southern Marin

The Southern Marin submarket, defined by the cities of Sausalito, Mill Valley, and Tiburon, is known for its unparalleled beauty, charming boutiques and historic character in a bayside community. Just north of the Golden Gate Bridge, this submarket is a popular destination for visitors and locals due to the National Parks, breathtaking views and outdoor attractions, including the Golden Gate Recreation Area, Mount Tamalpais, Muir Woods, Marin Headlands and Richardson Bay. Southern Marin is home to numerous fine restaurants, elegant hotels, and boasts a friendly and sophisticated culture. As the first stop north from San Francisco, this area is home to one of the wealthiest demographic areas in the world.

Access to Southern Marin is primarily by two means, via Highway 101, or by waterway using the Bay’s Golden Gate ferry system. It is not uncommon to see commuter bicyclists making their ways to and from San Francisco through these cities.

While the ample tourist attractions bring many visitors, the area provides healthy business success in the retail and office sectors.

Southern Marin’s retail activity is well-known through wide-spread, charming street-front boutique shops, but there are a couple notable shopping centers. Strawberry Village in Mill Valley is an upscale neighborhood center, while the Marin Gateway Shopping Center has a more regional draw with Target and Ross as anchor tenants. Some of the world’s finest dining can be found in Southern Marin, including El Paseo by Tyler Florence, Sushi Ran, and many waterside venues offering delectable cuisines and unforgettable views.

Southern Marin houses several Class A office complexes. Various tech-inspired buildings along Liberty Ship Way, Marina Plaza and The Harbors offer opportunities in Sausalito, while the Shoreline Office Center and Belvedere Place sit east of Highway 101 in Mill Valley, and the neighboring Shelter Bay and Shelterpoint Business Center reside on the west side of the highway. These projects are home to hundreds of businesses, drawn to the area by the easy access to San Francisco, and for the boutique amenities. Primary Southern Marin tenants include Glassdoor and Redwood Trust, and most offices are occupied by wealth management/financial services, independent medical practices, and real estate services.

A very small, quasi-industrial zone along the waterfront in Sausalito offers some warehousing for artists and light manufacturing tenants.

Marin County

Marin County, at the northernmost tip of the San Francisco metropolitan area, is one of the most vibrant communities in the United States.

Novato

Major Business Parks

San Marin Drive Office Park

Downtown Novato

Rowland Plaza

Pell Plaza

Bel Marin Keys Industrial Park

Hamilton Landing

San Rafael

Downtown San Rafael:

North San Rafael:

Bahia de Rafael Industrial Park

West Francisco & The Canal

Central Marin

Southern Marin

Santa Rosa Office

Larkspur Office

Petaluma Office

Napa Office

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