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.
WeWork office with communal work and seating areas
San Francisco Business Times
WeWork leases up space for second Oakland outpost
by Blanca Torres

WeWork’s rapid Bay Area expansion continues with another outpost coming to Oakland.

The co-working operator leased 68,000 square feet on three floors in TMG Partners’ 2201 Broadway to house about 1,100 desks opening next spring. The deal is one of the largest office leases in Oakland this year as the city’s office market tightens.

“With large floor plates and high ceilings, the property is ideally suited for creative, technology and other startup tenants – not to mention our location within two blocks of BART, Lake Merritt and a myriad of restaurants and entertainment venues,” said David Cropper, TMG Partners director of development, in a statement.

WeWork has been adding new Bay Area locations at a steady clip in recent years. The company, which rents desks and private offices by the month, recently inked a deal for its 15th location in San Francisco, at 1 Post St., and is now up to 23 locations in the region including 2201 Broadway.

"Our existing locations in Oakland and Berkeley are not only fully occupied, but have waiting lists of companies hoping for more space," said Elton Kwok, WeWork's general manager for Northern California, in a statement.

The first Oakland WeWork opened last year in 1111 Broadway in the city’s downtown office district and above a BART station. That space, encompassing 80,000 square feet, has capacity for more than 1,400 people in a variety of desks, booths, tables and 287 private offices.

The 2201 Broadway outpost will be WeWork’s fourth in the East Bay as it also expands in Emeryville and Berkeley. WeWork plans to open another space this spring in 1900 Powell St. in Emeryville, where it leased 38,000 square feet. WeWork is adding a second location in Berkeley that will open in fall of 2019 at 2120 Berkeley Way, a 42,500-square-foot building developed by Rhoades Planning Group. The company already operates in 2120 University Way in Berkeley.

The company has been expanding into other suburban areas such as Mill Valley and San Mateo with plans for even more locations coming soon.

TMG Partners bought the 198,000 square-foot 2201 Broadway in 2016 for $65 million, or about $328 per square foot and began a $14 million revamp of the former furniture-store-turned-office building.

Built in 1931, the Art Deco-inspired building dons a distinctive terra cotta exterior. It housed Breuner's Home Furnishings with a showroom on the first floor.

TMG hired Studio O+A to design the renovation, which involves reconfiguring the first floor including creating new lobby and relocating the entrance to Broadway from of a side street.

The building sits in the heart of Uptown, a thriving neighborhood that has been in the middle of a revival during the past decade with dozens of new shops, restaurants and performance venues opening up. Now, developers are working to add more than 1,000 new homes in the surrounding blocks.

2201 Broadway is a few blocks from the 19th Street BART Station and major freeway connections. Proximity to transportation is a key draw for many office tenants leasing up space in Oakland, Cropper told the Business Times last year.

TMG Partners is one of several investors that have jumped into Oakland for the first time in the past five years. The San Francisco-based firm bought its first Oakland building, 1330 Broadway in 2015 for $80 million and sold it earlier this year for $173 million.

The developer is also working on a plan to add another office tower on an adjacent parking lot to 2201 Broadway.

Brokers John Dolby and Dane Hooks of Cushman and Wakefield represented the landlord in the WeWork lease. Savills Studley’s Steve Barker represented WeWork.