Bay Area job market to top U.S., California
The Bay Area job market should expand more quickly than California and the nation over the next two years, primarily because of solid employment growth in the San Jose and San Francisco area, although the Oakland area should expand as well, a report released Thursday shows.
During 2013 and 2014, job totals in the Bay Area should expand by 7.2 percent, the Bay Area Council's Economic Institute reported.
The only job losses expected in the Bay Area over the two years will come from local, state and federal government agencies, the report predicted.
Ellis Partners buys East Bay buildings
Ellis Partners has bought two office buildings in Livermore and one in Pleasanton in separate transactions, the realty investor and developer said Thursday.
San Francisco-based Ellis bought a 145,000-square-foot, two-building office campus just north of Interstate 580 on North Canyons Parkway in Livermore. The deal for the two buildings, known as North Canyons Tech Park, was arranged through realty brokerage HFF.
Ellis also bought a 64,000-square-foot office building known as Franklin Corporate Center, located at 5100 Franklin Drive in Pleasanton. The deal was arranged by commercial realty firm Colliers International. Ellis will undertake a major renovation of the Pleasanton building, including new lobbies.
LightSail captures $37 million in VC cash
Berkeley-based LightSail Energy, a developer of new technologies for energy storage, has landed $37.3 million in Series D venture capital financing.
Investors Bill Gates, Peter Thiel, Khosla Ventures, and Innovacorp were among the notable financiers that participated in the venture funding round.
Founded in 2009, LightSail Energy has developed technologies to make renewable energy such as solar and wind power available at times when the power is needed, rather than only when they are available. LightSail's storage system enables solar farms to store energy cheaply, then deliver the power when it's needed.