Sunset Development, the family-run firm that owns the sprawling 585-acre mixed-use Bishop Ranch complex in San Ramon, has had a busy year full of office leasing activity.
The firm has disclosed that in 2023 it has signed or renewed leases for 174 office tenants at Bishop Ranch, with the deals encompassing more than 630K SF in office space. The average lease length was seven years, the company said.
Bishop Ranch has been a magnet for offices associated with the building trades and homebuilding. Carlson Barbee & Gibson, a civil engineering firm, renewed a 24K SF lease in the office park's Sycamore area, while developer Taylor Morrison renewed a lease for 11K SF.
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In the office park's Lakeside section, TRI Pointe Homes renewed a lease for about 19K SF. KB Home renewed 17K SF of office space in the section known as Canopy.
Other tenants renewing office leases this year included Insight Global, a staffing company, which re-upped on 20K SF in the Orchards section. New York Life Insurance renewed its lease on 16K SF and Canary Marketing renewed a deal for 10K SF, both of which are located in Sycamore.
Among new tenants were professional services company Vaco, which has leased a 50K SF space which will become its digital operations center. Withum, a public accounting firm, signed an 11-year-lease for about 13K SF in Orchards, and renewable energy player Solargistix leased about 12K SF in the Shepherd's Glen area.
Chevron, which sold its 92-acre former headquarters site in San Ramon in 2022 to Sunset Development for $175M, Chevron has committed to lease 400K SF in the Lakeside section of Bishop Ranch, a space that Sunset is still building out for the energy giant. Chevron plans to move in by April 2024.
"Chevron's commitment to remain at Bishop Ranch not only validates the appeal of our community but also enhances the evolving ecosystem within Bishop Ranch," said Alexander Mehran Jr., CEO of Sunset Development, in a statement.
Chevron relocated hundreds of employees from San Ramon to Houston to downsize from its 1.3M SF HQ. The property it sold to Sunset last year it originally acquired from Sunset in the 1980s.
Related is planning to build 400 luxury apartments in the Orchards section, the first residential project at Bishop Ranch. Belmont Village Senior Living broke ground in February.
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