NAIOP San Francisco Bay Area Chapter: Latest News

2025 Best of the Bay Awards Recap

March 19, 2025 Filed under: Chapter, Past Events & Photos

NAIOP SFBA held its 11th Annual Best of the Bay Awards on Thursday, March 13^th at the historic Julia Morgan Ballroom. Luis Belmonte was back as master of ceremonies employing his famous gong.

Lively and upbeat, the Best of the Bay is a unique commercial real estate awards competition which features attendees picking the winners in real time using keypads. As each award is introduced nominees give a creative pitch to steer votes in their direction. If they fail to wow the audience or drone on too long, they are gonged!

Prologis took home the most coveted award of the night Development of the Year, for their amazing project, 5358 Rue Ferrari, in San Jose. Max Fried and Noah Rodriguez-Trammell take home the trophy on behalf of the team. They got gonged for their singing which was so bad that Luis could be seen covering his ears!

HIGHLIGHTS

+302,843 SF Class A asset situated in a premier location in San Jose.
POWER: Rue Ferrari has access to 99 MW of power, providing a unique opportunity to serve a diverse tenant base.
Outside of its power capacity, Rue Ferrari will feature best-in-class building features. The development features 42’ clear heights

515 linear feet of freeway visibility along US-101 with excellent accessibility, and modern Class-A specifications designed for flexibility between warehouse/distribution and manufacturing use.

KEY PROJECT FACTS

The Rue Ferrari development aligns with Prologis’ Net Zero Carbon 2040 goal by incorporating the following features:

Solar-ready rooftop structure
EV charges for 10% of car parking stalls
High-efficiency heat pump units
Increased data collection via life cycle assessments and metering
LEED Silver certification

OWNER/DEVELOPER: Prologis

BROKERS: CBRE – Chip Sutherland and Rob Shannon

Austen Peterson with Lift Partners was honored as Developing Leader of the Year. Described by her colleagues as a force of nature who is very involved in the community.

NAIOP SFBA YPG Class 11 Participant (2024 – Present)
NAIOP Silicon Valley University Challenge Team Coordinator (2022 – Present)
NAIOP SFBA 9th Annual Best of the Bay Awards (Award Recipient, Industrial Lease of the Year)
Hamilton Families Junior Board (2023 – Present)
Chadwick School Alumni Board (Chair, 2019 – Present)
The Belden Club
Philanthropy Chair, 2020 – 2023
Special Events Chair, 2023 - 2025
Vice Chairman 2024 - 2025

Elizabeth Velazquez took home the Inclusive Leadership Award on behalf of PGIM. She delivered the heartfelt speech focusing on the many aspects of their program. PGIM program is amazing their commitment to advancing diversity, equity and inclusion is grounded in the belief that embracing a wide range of experiences, background and perspectives drives better outcomes for our clients, employees and communities. They are dedicated to fostering a workplace where all talent is welcomed, supported and empowered to thrive.

They have their own Inclusion & Leadership Network (ILN), which represents a global cross section of professionals who work together to build an inclusive and equitable workplace for all. In San Francisco, the ILN leads host and participate in programming that provide education and awareness, create an inclusive culture and build community. Some examples of the programming and events that the San Francisco ILN have organized and hosted this past year include:

Museum Visits and Community Events that included trips to the Asian Art Museum, deYoung, and Museum of the African Diaspora to experience exhibitions in coordination with specific heritage months or to further explore culturally significant themes; the ILN also supported Elevate Oakland, a nonprofit organization that works to bring culturally vibrant art and music programs to Oakland’s youth, through sponsorship and attendance of their Jazz showcase.
Community Volunteer and Engagement in partnership with Project Open Hand, a nonprofit organization that provides meals and groceries to the elderly and homebound people in San Francisco
Book Club to foster community and discuss relevant cultural, wellness, and societal issues
Wellness / Fitness Challenge with a focus on overall health and wellbeing with the goal of bringing the office together through spirited competition
Wellness Series for the SF employees in partnership with MindfulSF with a focus on mindfulness, compassion, and stress reduction
Additional events in collaboration with the PGIM DEI Office to celebrate cultural and heritage month events such as Black History, PRIDE and Hispanic Heritage months, partnering with Business Resource Groups and hosting breakfasts and lunches to foster connections across teams.

Please find a complete list of all the other winners below

Industrial Lease of the Year

Fortress, 2933 Alvarado – San Leandro

LANDLORD BROKERS:

Colliers – Mark Maguire, Justin Smutko, Paul Boskovich

TENANT BROKERS: Cushman & Wakefield – Jay Hagglung, Ray Howden

Office / Life Science Lease of the Year

150 Independence Dr. – Menlo Park (Snowflake)

LANDLORD: Bohannon & Brookfield

SUBLANDLORD BROKERS: Steve Clark, Clarissa Richardson & Mark Bodie, JLL.

TENANT BROKER: George Fox, Nick DeMartini, Luke Ogelsby CBRE

Multifamily Deal of the Year

1900 Broadway – Oakland

DEVELOPER: Behring Co

Most Creative Financing Transaction of the Year

RADIUS @ HARBOR BAY

OWNERS: Paceline & True North

LENDER: Wells Fargo

BROKER: JLL

Industrial Transaction of the Year

550 E. Brokaw Road – San Jose

BROKERS: Newmark – Steve Golubchik, Edmund Najera, Darren Hollak & Joe Kelly

Office / Life Science Transaction of the Year

180 Grand - Oakland

BUYER: Isaac Abid, Lakeside Group

SELLER: Truist Bank

BROKER: Erik Hanson, JLL

Best Amenities Package

1900 Broadway, Oakland

DEVELOPER – Behring Co.

The event brought together top dealmakers and industry professionals for an evening of high-energy networking, industry insights, and well-deserved recognition. The night concluded with a celebratory after-party, giving attendees the chance to continue the conversation and connect with peers.