VALLEJO, CA—Kennedy Wilson has been tapped to be the exclusive leasing agent for 1 million square feet of commercial space being developed on Mare Island. Developer Lennar Mare Island LLC is turning the 650-acre former naval base into a mixed-use commercial and residential community.
To oversee the project, Kennedy Wilson has brought on Eric Rehn as vice president in the brokerage division. Rehn is an industrial and warehouse specialist with 12 years of experience. He has been working on a variety of property and asset management activities on Mare Island since 2002.
“The industrial and commercial markets in the San Francisco Bay area are in the recovery mode and Mare Island offers some of the most competitive rates in the area,” said Jim Rosten, president of KW Properties Group, in a statement. “This, coupled with Rehn’s vast experience here, allows us to position this property to the right market in the best manner possible.”
The Mare Island project was taken on by Lennar Mare Island in 1998, in conjunction with the City of Vallejo. Through a variety of developments, the island now boasts more than three million sq. ft. of commercial property. That total will double by the time the project is complete.
“With approximately 3.5 million square feet of occupied space and a variety of available commercial space that can handle large industrial, office and maritime uses, the Mare Island project is well poised to take advantage of improving market conditions,” Rehn said. “As the gateway to the central valley, Marin County and Napa, but still in close proximity to Oakland and San Francisco, this location is central to companies needing strategic access to all of Northern California. We are very excited to be a part of its rebirth.”