Basin Street Properties Expands Marin County Presence with Acquisition of 899 and 1050 Northgate Drive
Basin Street Properties, a leading owner and operator of commercial real estate in Northern California and Northern Nevada, announced today the acquisition of 899 Northgate Drive and 1050 Northgate Drive, two Class A office and medical office properties totaling 113,094 square feet in San Rafael.
The acquisition expands Basin Street’s existing Marin County presence, which includes Shoreline Office Center in Mill Valley, and reflects the company’s confidence in the North Bay office market. Basin Street’s North Bay portfolio continues to generate strong leasing activity, with recently completed and pending transactions pushing occupancy close to 88% in 2026.
“There continues to be a disconnect between the perception of office real estate and what we are seeing on the ground in our markets,” said Matt White, Chairman and CEO of Basin Street Properties. “Investors and lenders have been cautious about office, but businesses are leasing space, employees are spending more time together in the workplace, and well-located, high-quality buildings continue to perform. We’re seeing that across our portfolio, and it gives us confidence to continue investing in markets like Marin County.”
The broader office market is also showing stronger signs of stabilization and recovery. U.S. office leasing reached a new post-pandemic high during the second quarter of 2026, while office availability declined for the eighth consecutive quarter, according to JLL. Workplace patterns are also becoming more structured, with JLL reporting that 70% of employees now work in the office three to five days per week and the percentage of fully remote employees declining from 18% in 2025 to 10% in 2026.
The North Bay office market exhibits similar momentum. Cushman & Wakefield reported nearly 178,000 square feet of leasing in the second quarter of 2026, with Petaluma leading the region with more than 68,000 square feet. New leases accounted for the majority of transactions, reflecting continued demand from companies seeking well-located, high-quality office space across Marin and Sonoma counties.
Basin Street believes 899 and 1050 Northgate are particularly well positioned to capitalize on these current market trends. Both buildings offer convenient Highway 101 access, plentiful parking and flexible suites suited to professional and medical users serving Marin County’s surrounding communities.
Directly across from the evolving Northgate district, 899 Northgate Drive is a five-story, approximately 57,245-square-foot property featuring covered and surface parking, abundant natural light and a roof deck. The property includes an updated lobby and common areas, outdoor patio and refreshed landscaping.
The five-story 1050 Northgate Drive totals approximately 55,849 square feet and features panoramic hillside views, strong freeway visibility, shared conference facilities and flexible office and medical suites. Basin Street plans continued improvements to the property, including an enhanced building entry, tenant lounge, outdoor patio and other upgrades designed to improve the tenant and visitor experience.
The acquisition comes as the surrounding Northgate area continues to evolve through new housing, retail and community investment. Basin Street believes the combination of new residential development, reduced competing office inventory and Marin County’s strong demographics creates an attractive long-term environment for quality office and medical properties.
Basin Street will bring its vertically integrated property management, engineering, leasing and asset management platform to both buildings. The company plans to focus on targeted property improvements, responsive tenant service and active leasing to strengthen the competitive position of the assets and create long-term value.
The acquisition also carries a personal connection for Basin Street and its leadership. Basin Street’s roots in Marin date back to 1974, when founder Bill White officed at 1050 Northgate early in his career. Matt White and Scott Stranzl, President of Asset Management Services, both grew up in Marin County and have deep ties to the market.
“Expanding our presence in San Rafael feels a little like coming home. Marin is special to both Scott and I, and there is something very satisfying about returning here,” White said. “Basin Street got its start in San Rafael over 50 years ago, and 1050 Northgate is part of that history. To return with the experience, team and resources we’ve built over five decades is exciting. We love this market, we believe in its future and we’re looking forward to bringing professional management and success to these two properties.”
For Basin Street, the acquisition reflects a broader strategy of investing in well-located properties where market fundamentals, constrained supply and active management can create value.
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About Basin Street Properties
Basin Street Properties is one of Northern California’s and Northern Nevada’s most prominent investors, owners and operators of commercial real estate. The company owns and manages over 4.5 million square feet of Class A office space. Basin Street is widely recognized for its office, retail, hospitality, multi-family and mixed-use developments. The company offers a broad range of real estate services, including development, property management, leasing, construction management, financial and asset management, and property acquisition and disposition. For more information, visit basin-street.com.