SOURCE: Basin Street Properties

September 30, 2013 13:24 ET

Basin Street Properties to Break Ground on New Building for Cyan, Inc. at Redwood Business Center

New Office Facility Is Sonoma County's First in Several Years

PETALUMA, CA--(Marketwired - Sep 30, 2013) - Basin Street Properties, a prominent Northern California and Northern Nevada real estate investor and developer of commercial and mixed-use properties, is adding a 57,000-square-foot Class A facility to its Redwood Business Center, and has inked telecommunications company Cyan, Inc. to be the anchor tenant. The new office building, the first to be built in Sonoma County in several years, will mirror an adjacent identical building, of which Cyan already occupies 27,000 square feet. Basin Street Properties will break ground on the facility in mid-October with completion planned for summer 2014.

"Having worked with Cyan since its infancy and over the past seven years, we are deeply familiar with the company's culture and real estate needs," said Scott Stranzl, vice president of leasing for Basin Street Properties. "Cyan has experienced tremendous growth in recent years, and while they could have sought out a new space anywhere, were committed to staying local and partnering with us on this new Class A facility. Through quality real estate offerings and the highest level of tenant service, we aim to support business growth and to continue to elevate the economic vitality of Sonoma County. It's a fantastic place to live and work, and with the growth of companies like Cyan comes promising job opportunities for the region's talent pool."

Cyan is a leading provider of software-defined networking (SDN) and packet-optical solutions for network operators, serving carriers, enterprises, governments, and data centers globally. Enabling network transformation, the company's software-defined network (SDN) solutions deliver orchestration, visualization, and scale to networks that until now have been static and hardware-driven. Launched in 2006, the company completed its initial public offering in May 2013.

"Cyan is quickly outgrowing its current Petaluma facility and considering our long-standing relationship with Basin Street Properties, expanding into this new space made great sense to us," says Rick Johnston, co-founder and vice president of business operations at Cyan. "Petaluma provides a strong technology talent pool and a great quality of life for our employee-base. We are excited that this community will continue to be a critical part of our development and growth."

Cyan will occupy two out of three stories in the new office building, which will be connected to the adjacent building by a glass enclosed bridge linking the third floors, facilitating convenient collaboration for employees.

The Redwood Business Center is located on the prominent and visible Highway 101 corridor and is in walking distance to a number of restaurants and retailers.

About Basin Street Properties
Basin Street Properties is a prominent Northern Nevada and Northern California developer, investor and manager of commercial properties. Basin Street has become widely recognized for its office, retail and mixed use developments. Founded 37 years ago, the company offers a broad range of real estate services, including development, property management, construction management, financial and asset management, and property acquisition and disposition. For more information, visit www.basin-street.com.

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