Petaluma SMART Development

Posted: 4/24/2017
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About

About Petaluma SMART Development

Cushman & Wakefield’s Northern California Multifamily Advisory Group is pleased to present the exclusive opportunity to acquire the 4.48-acre SMART adjacent TOD site in downtown Petaluma, California (the “Property”). This premium development site is physically connected to the downtown Sonoma Marin Area Rail Transit (“SMART”) station as well as the Petaluma Transit Mall. The Property represents the rare chance to develop a legacy project and define the new transit district of a city while capitalizing on the increased renter demand the SMART service is anticipated to generate. The Property is one of only 3 catalyst sites in the TOD Master Plan and approximately 500 feet away from the Petaluma waterfront with all of downtown’s various amenities. This charming North Bay city, well known for its inviting and walkable downtown, enjoys an attractiveness to Bay Area renters who seek a more balanced quality of life and cost of living. As a result, Petaluma is experiencing solid multifamily fundamentals, with both annual effective rent growth and occupancy up considerably over the previous 2 years.