It’s the way we think 
that sets us apart.

TMG Partners has been in the business of developing award-winning, financially-successful, community-based real estate for 40 years. As much as we have accomplished over the last four decades, we believe it is the way we THINK about our region, the risks we manage, the critical timing of our projects and the value we create that sets us apart.
Localism

Real Estate is
a local business.

No, really.

The San Francisco Bay Area is an extremely diverse real estate marketplace with countless micro-business climates teeming with possibility. But you have to be here—and know here—to make the most of the opportunities all around us. Having been exclusively committed to the Bay Area for four decades, we have developed a keen local intuition which gives us a unique advantage in recognizing both the opportunities and risks in this complex market.
Regionalism

We Think 
Mega

If we try to solve our land use problems by focusing
only on the nine Bay Area counties, we will fail.

Michael CovarrubiasChairman & Co-CEO

As the Bay Area’s economy has grown over the last four decades, so too has its challenges—particularly related to transportation, housing, affordability and climate change. To plan for growth of 4 million more people in the next third of a century, TMG is thinking bigger, beyond our nine Bay Area counties, and working on longer term strategies to create greater connectivity across our entire megaregion.
Timing

It’s got to work at low tide as well as high tide.

Some of our best deals are the ones we didn’t do.

Matt FieldCo-CEO

Almost anyone can make money in a positive economic climate. But it takes discipline, depth of market knowledge and experience in all major product types to know when to buy and when to sell. The most profitable deals can be the ones you decide just don’t make sense or are outbid by an “out of town” competitor. Because we are active in our markets on a daily basis, TMG Partners has managed a portfolio through 40 years of market cycles that works in all phases and has withstood the sands of time.
Vision

huh?

Once it’s obvious, it’s too late.

Cathy GreenwoldSenior Advisor

If you wait for the statistical proof to confirm real estate opportunities, you’re looking backwards. TMG Partners has cultivated an approach to studying the business landscape that reveals market opportunities before they become obvious. Our contrarian investment strategy balances optimism and caution with the intent of turning forward-looking investments into no-brainers.
Returns

Redefining IRR

Our measure for success goes beyond profit.

Lynn TolinChief Operating Officer &
Executive Vice President

Most investment professionals have a clear understanding of IRR: Internal Rate of Return, a purely financial measurement of performance. At TMG we use a different definition. For us, IRR means balancing Integrity, Relationships and Results. We measure every aspect of our business through this lens to ensure our partners, communities, tenants and buyers are treated with the highest degree of respect and responsibility while we consistently deliver superior financial performance.
Think
Localism
Regionalism
Timing
Vision
Returns
Close

Close

 

News & Awards.

TMG Partners has won awards for many projects
including honors for “Best Mixed Use,”
“Best Office,” and “Best Historic Rehabilitation”.
In the News. Press Releases. Awards.
A view of Lake Merritt with two buildings in the foreground.
TMG Partners
TMG Partners to Enter into Lease with Purchase Option for new PG&E Headquarters in Oakland
by TMG Partners

SAN FRANCISCO/OAKLAND -- (June 8, 2020) – TMG Partners, one of the San Francisco Bay Area’s largest mixed-use property developers, announced today the company has entered into a long-term lease with PG&E to relocate PG&E’s headquarters to 300 Lakeside in Oakland from their current downtown San Francisco headquarters location. The lease includes a purchase option for PG&E to acquire the property from TMG Partners in 2023. The transaction is approved by TMG Partners and PG&E, and is subject to final approval by the Bankruptcy Court

“We are pleased to assist PG&E as it emerges post-bankruptcy and seeks cost and operational efficiencies,” said Matt Field, President of TMG Partners. “We recognized that 300 Lakeside could provide a transitional opportunity where the company is able to optimize its footprint, phase into the new space in a compact timeline in a location that is easily accessible to a majority of their employees – and understanding Oakland’s continued regional desirability for its central location, transit access, and great community.  We worked together to structure the transaction to have a comfortable timeline to renovate the property for PG&E’s workspace and provide the flexibility for the company to elect whether to own or lease their completed headquarters.”  

The 300 Lakeside property, a signature building on Oakland’s skyline, was originally developed as the headquarters for Kaiser Industries in 1960 and was designed by noted architecture firm Welton Beckett Associates. The property includes a 1,339-stall parking garage with a rooftop landscaped open space and approximately 130,000 square feet of retail and office space in a two-story building at 344 Thomas L Berkeley Way. TMG Partners will retain ownership of the garage and Thomas L Berkeley Way building.

“Our new Oakland headquarters will be significantly more cost-effective, is better suited to the needs of our business, and is a critical part of fulfilling our commitment to operate in a fiscally responsible way that will enable us to achieve our operational and safety goals,” said Bill Smith, incoming Interim Chief Executive Officer of PG&E Corporation. “Savings from lower headquarters costs will tangibly benefit our customers financially. The move will also bring our employees together in new and better ways in service to our customers.”

The current ownership of the property recently completed major renovations to the building, including elevator modernization, new common areas, a conference center, bike room, tenant lockers and showers, café, and food truck zone.  The building also has a conference center with 393-seat auditorium and pre-function area which is used for both tenant functions and third parties.  TMG will continue upgrades of the building for PG&E, including the entire process of design, engineering and, with the general contractor, constructing new workspace compliant with PG&E standards.    

“The transaction also demonstrates the benefits to the greater Bay Area Region,” said TMG Partners Chairman & CEO Michael Covarrubias. “Oakland gains a new company with PG&E occupying a former corporate headquarters building, built for Kaiser in the 1960s, and the investment will add significant annual property, payroll, and other tax revenue for the City of Oakland. Concomitantly, when PG&E’s current headquarters is ultimately sold and occupied by another company, the City of San Francisco will enjoy significant additional annual property tax and commercial rents tax revenue as PG&E has been an owner-occupant of the property since the construction of the buildings fifty and one-hundred-fifteen years ago respectively.  We anticipate that San Francisco will also receive other increases in tax revenues from the sale and re-tenanting of the property.”   

About TMG Partners

TMG Partners, founded in 1984 and headquartered in San Francisco, is a full-service real estate development and management company. One of the most active developers in the Bay Area Region, TMG has a portfolio of more than 30 million square feet across Oakland, San Francisco, San Jose, and other Bay Area cities that includes a variety of office, retail, residential, and industrial properties, ranging from office campus and multi-story properties in urban-infill locations to mixed-use and single-story suburban buildings. For detailed information, visit TMG Partners. 

About PG&E

PG&E Corporation (NYSE: PCG) is a holding company headquartered in San Francisco. It is the parent company of Pacific Gas and Electric Company, an energy company that serves 16 million Californians across a 70,000-square-mile service area in Northern and Central California. Each of PG&E Corporation and the Utility is a separate entity, with distinct creditors and claimants, and is subject to separate laws, rules and regulations. For more information, visit pgecorp.com.

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