“It’s very hard to find small space in Marin County that someone can buy, so it gave a whole bunch of users the opportunity to buy their own office,” said Denis Plehn of Orion Partners. He and Gerry Heermann were the exclusive real estate agents for The Vineyard.
About one-third of the complex is office space used by professional services, including attorneys, insurance brokers and the California Teachers Association. One-third is warehouse space, and the remaining third is light industrial.
“It’s an incredible project,” said Mr. Plehn. “It was beautifully designed, the timing was good, interest rates were low. It was the perfect product for the perfect time.”
Mr. Plehn said the rate at which the 50 Vineyard condos sold out – which took just more than a year – makes him confident that more projects like The Vineyard also could be successful.
“I still think commercial industrial condos are in high demand,” he said. “I wish I had another project like this.”