SAN JOSE, CALIF. – Spansion has leased 154,600 square feet within two buildings at Ridder Park Technology Center in North San Jose. The new lease will include 124,592 square feet at 1001 Ridder Park Drive and 30,041 square feet at 1717 Fox Drive. Other notable tenants at the center include Ex’pression Center for New Media and the County of Santa Clara. The landlord, Hines Development, was represented by Steve Horton and Kelly Yoder of Cassidy Turley and CBRE’s Jeff Houston and Sherman Chan. Hines sold the building to Cole Capital earlier this year.
Office
CAMARILLO, CALIF. — Gold Coast Health Plan has leased 33,671 square feet of office space in Camarillo. The property is located at 711 E. Daily Drive in the Ventura County submarket. The public entity, which is governed by the Ventura County Medi-Cal Managed Care Commission, will be relocating from a 16,000-square-foot office in nearby Oxnard. Gold Coast was represented by CBRE’s Michael Slater and Tom Dwyer. The landlord was not named.
LYNNWOOD, WASH. — Radia, Inc., PS has leased 23,000 square feet at Redstone Corporate Center I in the Seattle submarket of Lynnwood. The 202,000-square-foot, Class A office building is located at 19020 33rd Ave. W., across from the Alderwood Mall. The lease will commence this October. The radiology provider was represented by Dan Foster and Cameron Gellatly of Flinn Ferguson. The landlord, PCCP LLC and Talon Private Capital, was represented by JLL’s Daniel Seger and Brent Jackson.
SADDLE BROOK, N.J. — Marcus & Millichap has brokered the sale of the ground lease of Park 80 East for $5.6 million. Located in Saddle Brook, the 75,000-square-foot net-leased office building was purchased by a New York-based exchange buyer for a 6 percent cap rate in an all-cash transaction. Michael Lombardi of Marcus & Millichap’s Net Leased Property Group New Jersey office marketed the property on behalf of the undisclosed seller.
PLEASANTON, CALIF. — Swift Realty has acquired California Center, a 1-million-square-foot office campus in Pleasanton. The campus was acquired for a reported $155 million. The six-building property is located at 4400 Rosewood Drive in the Hacienda Business Park. California Center features a state-of-the-art conference center, a 600-seat cafeteria and a fitness center. It also contains an 8.4-acre site that is fully entitled for 305 residential units. The seller was RREEF. The transaction was executed by JLL’s Rob Hielscher, Michel Seifer and Aaron Herter.
SAN FRANCISCO — Merchants Exchange Building, a 241,961-square-foot office building in San Francisco, has received $61 million in financing. The building is located at 465 California Street. Merchants Exchange Building was built in 1903. It is one of the only trophy buildings to survive the 1906 earthquake in San Francisco. Financing was arranged by Jeffrey Weidell and Andrew Slaton of NorthMarq Capital's San Francisco regional office. The duo had initially arranged about $47.5 million in financing, before advancing an additional $13.5 million. The advance will mature in 11 years, along with the existing debt.
IRVINE, CALIF. – Arbonne has renewed its lease for a 146,482-square-foot building in Irvine that serves as its world headquarters. The building is located at 9400 Jeronimo Ave. It is part of a four-building campus. Arbonne has resided at the building since 2000. The skincare products company also maintains offices in Canada, the United Kingdom and Australia. Its new 60-month lease commences this November. The company was represented by Michael Props, Royce Sharf and Jeff Cannon of Savills Studley’s Orange County office. The landlord, The Irvine Company, was represented in-house.
CARSON, CALIF. – A 50,078-square-foot flex/office property in Carson has sold to a private investor for $7.3 million. The property is located at 16941 Keegan Ave. It was built in 1972 and renovated in 2002, 2009 and 2012. The building is fully leased to Timec Company and guaranteed by the Parent company, Transfield Services. The buyer was represented by Ryan Campbell of NAI Capital’s San Gabriel Valley East office and Tony Naples of Lee & Associates. The unnamed seller was represented by Colliers.
MISSION VIEJO, CALIF. — HighPark Corporate Center, a 37,579-square-foot office building in the Orange County submarket of Mission Viejo, has sold to CK HighPark LLC for $6.6 million. The building is located at 23351-23361 Madero. It is 93 percent leased to four tenants, including Holt Integrated Circuits. CK HighPark was represented by Bratun Real Estate. The seller, Madero LLC & Wyocal LLC, was represented by Dan Vittoneand Alan Pekarcik of Avison Young and Trent Walker of Voit Real Estate Services.
COSTA MESA, CALIF. — Haynes and Boone has leased 22,466 square feet at Plaza Tower in Irvine. The law firm will be located at 600 Anton Blvd., which is adjacent to South Coast Plaza and the Segerstrom Center for the Arts. The firm will occupy the space by September. It is relocating from Irvine Towers. Other tenants at the Class A tower include Dorsey and Whitney, Bingham McCutchen, Baker & Hostetler and Snell & Wilmer. Plaza Tower was represented by Rick Kaplan, Robert Lambert and Matt Moore of Cushman & Wakefield.