Reno’s Basin Street Properties announced Wednesday that it has leased to three companies more than 20,000 square feet of office space in Petaluma.
Two companies are expanding there, and a third is moving to new facilities.
Optical startup Cyan Optics has leased an additional 5,000 square feet at Basin Street’s Redwood Business Center, near Old Redwood Highway and North McDowell Boulevard.
And Enphase Energy, a startup that makes energy-efficient microinverters for solar power systems, has leased an additional 5,000 square feet of space at Basin Street’s Waterfront Office Building in the city’s downtown Theatre District.
As well, Alberta-based Stantec, a consulting and design company for facilities and infrastructure, has leased more than 10,000 square feet of new space at the Redwood Business Center.
Wednesday’s announcement follows Basin Street’s leasing of 15,000 square feet of space earlier this summer at the Fountaingrove Executive Center by Prosight Specialty Insurance. The company also has written leases for 13,000 square feet of office space this year at the Petaluma Marina Business Center.
Many of the leases will result in job growth in the county, said Scott Stanzl, Basin Street’s vice president of leasing. The activity also shows that commercial property owners can succeed if they offer valuable space for lease.
“What tenants are taking advantage of is a flight to quality,” he said.
Basin Street, which formerly was based in Petaluma, has reached an occupancy rate of 94 percent for its 100,000 square feet of commercial space in the city’s downtown Theatre District, Stanzl said.
To accommodate the expansion of Enphase Energy, Basin Street exited its own Waterfront office and relocated to the Redwood Business Center.