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Preston Thomas | Colliers | San Luis Obispo

Preston Thomas

SIOR, ULI

Senior Vice President | Principal

License # 01378821

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About

Professional Summary

Preston Thomas' primary focus is in representing corporations, landlords, tenants and investors in the acquisition, disposition and leasing of office, industrial and retail space in the City of San Luis Obispo.  

Preston Thomas is arguably the most active broker in the San Luis Obispo commercial real estate market place.  He places tenants on a weekly basis, and is quite aware of the current trends and on goings in the City of San Luis Obispo's leasing and sales marketplace.  Preston places on average over 50 tenants and buyers per year.  His leases and sales range in size from 500 square feet up through the disposition of a 156,000 square foot office/industrial asset.  Preston is well liked in the marketplace and is one of the few to say, that he cooperates with every single broker/agent in the market. Preston is also the most knowledgeable in regard to lease rates, lease transactions and tenants in the market. This is carried over from his previous employment as an Assistant Appraiser and the understanding of the importance of current comparable data.

Education

Preston graduated from Cal Poly, San Luis Obispo in 2003, with a Bachelor of Science degree in Agricultural Business, with a concentration in finance, appraisal and real estate. He received his California Department of Real Estate License in 2003. 

Memberships & Involvements

  • International Council of Shopping Centers Member (ICSC)
  • Highly Coveted SIOR Designee - Society of Industrial and Office Realtors Member – Office Specialist (SIOR)

Clients

Notable Sales

  • Disposition of 10 Pension fund building assets in the City of San Luis Obispo for American Realty Advisors/SLO County Employees Pension fund ($40 Million+ value)
  • Disposition Advisor to the first Asset sale for Sears Roebuck Co. Bankruptcy, with the sale of a San Luis Obispo Sears Asset.
  • More Downtown Building, Industrial Building, Office Building and Land sales in the City of SLO than any other broker in the marketplace over the last 5 years.
  • Disposition of REO assets for Union Bank of California   1.       DMV location - GSA leased investment, Paso Robles  2.       Former Downtown Bank Branch - 5,000 SF, Paso Robles  3.       Key Downtown Infill Development parcel, Paso Robles   4.     High visibility freeway CS zoned parcel, Paso Robles
  • Disposition of REO assets for Santa Barbara Bank and Trust/Pacific Capital Bancorp  1.       Prominent Downtown Office Building, 5,000 sf, San Luis Obispo  2.    Industrial zoned parcel with high site constraints, San Luis Obispo
  • 156,000 SF disposition of Industrial/Manufacturing facility near San Luis Obispo Airport, as ordered by the Probate Court of California.
  • 26,000 SF Industrial/Manufacturing facility on 3 acres in the City of San Luis Obispo, in the height of the recession, in 2010 to owner/user. Arguably the largest commercial sale in the City during the last recession period.
  • 57,858 SF, NNN leased investment – FedEx Industrial Facility, San Luis Obispo
  • 40,500 SF, Industrial/ Distribution Facility, San Luis Obispo
  • 40,586 SF, NNN leased investment – Class A Office Building, San Luis Obispo
  • 32,400 SF, NNN leased investment - Industrial/manufacturer use, San Luis Obispo
  •  25,400 SF, NNN leased investment – Retail Strip Center, San Luis Obispo
  • 24,500 SF, NNN leased investment – Class A office building (Nicest office building in the City of San Luis Obispo)
  • 24,400 SF, NNN leased investment - Industrial use, San Luis Obispo – sold twice

Notable Leases 

  • Successful leasing of 1026 Chorro Street and 997/999 Monterey Street, for Jamestown Premier Properties/Copeland Properties.  Two Class A Downtown office assets, considered the most high end office space in town. (Court Street Center - lifestyle center and 1026 Chorro- prime office suites)
  • Successful leasing and repositioning of 1327 Archer Street office Building.
  • Successful leasing of 35 Casa Street, Class A medical office building located on the campus of Sierra Vista Hospital - 45,000 SF, for Healthcare Trust of America - publicly traded REIT - ticker symbol HTA.
  • Successful leasing of Higuera Plaza retail shop portion.  Five shop suites located in the Trader Joe's/Food 4 Less Center, Higuera Plaza, San Luis Obispo for M. Timm Development Company.
  • Successful leasing of the 3970-3988 Short Street, industrial flex suites - ranging in size from 3-8,000 SF, 10+ units.
  • Successful leasing of newly built 5,500 SF high visibility retail pad building in the Village at Broad/Fresh and Easy Center, San Luis Obispo.  The first Spec building in San Luis Obispo to be built and leased after the recession.
  • Successful leasing of the currently under construction 2252 Broad Street pad building,. Located in the Village at Broad.
  • Successful leasing of Heritage Plaza.  Redevelopment of retail building into multiple retail/office tenant suite in Downtown San Luis Obispo, 13,000 SF, 6+ Tenants.
  • Successful leasing of the Bear Valley Shopping Center - 26,000 SF, CS zoned high exposure retail center (1,200 SF suites).  First time full since built in 1984, near Target/Costco, San Luis Obispo.

Services

Service Lines

Landlord Representation, Tenant Representation, Capital Markets

Property Type

Industrial, Land, Multifamily, Office

My Team

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