Circa 26 President’s Message: New Opportunities in Real Estate

January 2022


We made a strategic decision several years ago to diversify.  Diversification spreads the risk and provides opportunities for leaders to grow.  While we diversified our investments in 2020 with the acquisition of Casey Fogli, and CF&T Concrete Pumping, we switched gears to our real estate investments in 2021.

In 2021 we sold our Gloria Terrace investment, “The Nines,” in Lafayette after McGuire and Hester and Casey Fogli forces completed site work. We sold our North and South Loop investment located in Harbor Bay, and we sold our three homes in Castro Valley.  Collectively our real estate sales added over $10 million in gains to the bottom line in 2021.

Selling some of our real estate assets wasn’t the only thing we were doing in 2021; as mentioned in the last Voyage, we acquired “a Little Cabin” near Graeagle and a major investment into West Oakland with the acquisition of four separate parcels located near our old McGuire and Hester sports field project Raimondi Park. Our newest tenant in West Oakland will be opening up a new restaurant called Kowbird. The owner, Matt Horn has received national recognition for his first restaurant, Horn BBQ.  Kowbird opens this month in January and I would highly recommend you try either establishment.  The food will be excellent, there is already a media buzz about the opening. 

“Kowbird” restaurant in West Oakland

In 2022, our real estate investment team will also complete the four-story Exelixis building in Harbor Bay Business Park, and we are working to begin construction on a new 13 acre RV & Boat storage facility in Pittsburg.   A well-diversified real estate portfolio, these projects will all take time, energy, and resources to develop to their full potential.

Four-story Exelixis building in Harbor Bay Business Park

I would be remiss if I didn’t recognize that our construction companies’ hard and successful work provided the seed money for our original real estate investments.

Our growing strong collective balance sheet and liquidity position us to be opportunistic in strategically reinvesting and expanding our core construction businesses and real estate investments.

I’m so proud to see new leadership stepping forward in all our companies and look forward to working with my long-time business partner Mike Hester seeking future investments in core construction companies and real estate development.

house in the woods
Our “little cabin” near Graeagle, CA
Gloria Terrace “The Nines”, a nine lot residential development in Lafayette.
North Loop. For more detail about this property click here.
South Loop. For more detail about this property click here.

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