At Cranbrook, we believe that value isn’t always obvious at first glance. Often it takes vision, creativity, and long-term commitment to reveal a property’s true potential. That’s exactly the story of Vineyard Business Park – our very own diamond in the rough. In 2014, while searching for a replacement asset following the sale of our Heritage Park Office Center in Dublin, CA, our CEO, Jim Devenport, came across a unique listing for a commercial property up for online auction as part of a note and deed of trust sale. Curious, Jim visited the site and saw potential. A few phone calls, an in-person meeting and a prior positive relationship between the seller and our Chairman, Richard Kulka, helped open the door to negotiations. We successfully acquired the property, via a “click of a button” and the journey of transformation began.

Comprised of two concrete tilt-up buildings totaling 63,193 sq. ft., Vineyard Business Park was home to a variety of tenants – churches, service providers, recreational users, and general office users. Over the past decade, our management team has continually worked to enhance the site through strategic capital improvements, ongoing maintenance and repairs, and proactive leasing strategies to attract higher-quality tenants. As with any diamond, it’s the cutting and polishing that reveals the brilliance. Every project we’ve completed, from minor updates to major renovations, has helped shape Vineyard into a more refined, high-performing property.

In 2024, we turned our attention to the office component of the property, which had experienced ongoing vacancy and minimal leasing interest. Knowing our largest tenant was set to vacate in early 2025, our team proactively began a 2nd floor common area upgrade, which included the installation of new LED lighting and updated interior paint and flooring (with 2026 plans to modernize tenant signage). However, even with these improvements, the office market at the property remained challenging.

But instead of sitting back, we looked for creative solutions and found one! One of our existing tenants, better suited for an office environment, was operating out of an industrial/flex space on the 1st floor. With the 2nd floor common area now upgraded, and flex space in high demand, we saw a clear opportunity. After several months of tours, design planning, and negotiations, we will be successfully relocating the tenant into a new, custom-designed 2nd floor office suite totaling 8,727 square feet for a 75-month lease term. This strategic move not only better served the tenant’s needs but also brought the 2nd floor office to 100% occupancy – for the first time since our acquisition in 2014 – and freed up in-demand flex industrial space for future tenant expansions. This is a prime example of our guiding philosophy of finding the “Right Space, Best Place” for each tenant.

Today, Vineyard Business Park is far from the property we first discovered in 2014. It’s a transformed asset shaped by vision, commitment, and strategic decision-making. Each renovation is a cut; every lease deal, a facet. What was once hidden in plain sight is now a shining part of our portfolio – and we’re not done!