SAN JOSE, CALIF. — Embarcadero Capital Partners has purchased Gold Street Technology Center, a 302,600-square-foot office/R&D campus in San Jose, for an undisclosed sum. The five-building campus is located at 2100, 2130, 2150, 2160 and 2190 Gold Street along Highway 237. It is 80 percent leased to four tenants, including Tivo, Inc., eSilicon Corporation, Minerva Networks and PiCoral. The seller, PNC Realty Investors, Inc., is the investment advisor to the AFL-CIO Building Investment Trust. It was represented by HFF’s Michael Leggett, Steven Golubchik and John Simerlein.
Western
PORTLAND, ORE. — An investment fund sponsored by Unico Properties LLC has purchased the Commonwealth Building, a 219,557-square-foot creative office building in Portland, for $41 million. The building is located at 421 SW 6th Ave. It was built in 1947 and renovated from 2008 to 2010. Commonwealth is currently 93.1 percent occupied. The seller was Commonwealth Acquisition LLC. Unico will continue to manage the building. Buzz Ellis, Michel Seiferand Paige Morgan of Jones Lang LaSalle’s Capital Marketsexecuted the sales transaction. JLL’s Joe Vaughanand Kristin Hammond will continue to oversee its leasing efforts.
OLYMPIA, WASH. — Starwood Capital Group has acquired a majority interest in seven regional malls, including three out West, for $1.6 billion. The acquisition includes Capital Mall in Olympia, Wash., Parkway Plaza in El Cajon, Calif., and Plaza West Covina in West Covina, Calif. The portfolio contained a total of 7.9 million square feet across four states. The malls have an average occupancy rate of 96 percent. The Westfield Group will maintain a 10 percent common equity interest in the properties. Starwood Retail Partners is the wholly owned, fully integrated operating platform that oversees Starwood Capital Group's retail investments.
SAN JOSE, CALIF. — Embarcadero Capital Partners has purchased Gold Street Technology Center, a 302,600-square-foot office/R&D campus in San Jose, for an undisclosed sum. The five-building campus is located at 2100, 2130, 2150, 2160 and 2190 Gold Street along Highway 237. It is 80 percent leased to four tenants, including Tivo, Inc., eSilicon Corporation, Minerva Networks and PiCoral. The seller, PNC Realty Investors, Inc., is the investment advisor to the AFL-CIO Building Investment Trust. It was represented by HFF’s Michael Leggett, Steven Golubchik and John Simerlein.
PORTLAND, ORE. — An investment fund sponsored by Unico Properties LLC has purchased the Commonwealth Building, a 219,557-square-foot creative office building in Portland, for $41 million. The building is located at 421 SW 6th Ave. It was built in 1947 and renovated from 2008 to 2010. Commonwealth is currently 93.1 percent occupied. The seller was Commonwealth Acquisition LLC. Unico will continue to manage the building. Buzz Ellis, Michel Seifer and Paige Morgan of Jones Lang LaSalle’s Capital Markets executed the sales transaction. JLL’s Joe Vaughan and Kristin Hammond will continue to oversee its leasing efforts.
FORT COLLINS, COLO. — Westfield-Harmony LLLP has acquired Harmony Corporate Center, a 190,617-square-foot office building in Fort Collins, for $32 million. The property is located at 2950 E. Harmony Road. The seller was Casa Grande Capital Group, LLC. The transaction was executed by Peter Kast of Realtec, as well as by Gary Hollenbeck of Palmer-McAllister and Mary Frances Cowan of Quantum Commercial Group.
PRESCOTT, ARIZ. — Prescott Gateway Mall, a 578,666-square-foot regional mall has sold to Tabani Group for an undisclosed sum. The mall is located at 3250 Gateway Blvd. in Prescott. It contains about 133,000 square feet of traditional, enclosed mall space and about 192,000 square feet of pad space. The unnamed seller was represented by CBRE’s Mindy Korth, Philip D. Voorhees, George Good and Patrick Connell.
DENVER — RiverRock Real Estate Group has expanded its property management and leasing services into Denver. The firm was recently awarded the management of a 630,000-square-foot of portfolio office and industrial space in and around the metro. RiverRock will oversee the property management and engineering of five properties. It will also add about eight employees to the area.
FORT COLLINS, COLO. — Westfield-Harmony LLLP has acquired Harmony Corporate Center, a 190,617-square-foot office building in Fort Collins, for $32 million. The property is located at 2950 E. Harmony Road. The seller was Casa Grande Capital Group, LLC. The transaction was executed by Peter Kast of Realtec, as well as by Gary Hollenbeck of Palmer-McAllister and Mary Frances Cowan of Quantum Commercial Group.
PRESCOTT, ARIZ. — Prescott Gateway Mall, a 578,666-square-foot regional mall has sold to Tabani Group for an undisclosed sum. The mall is located at 3250 Gateway Blvd. in Prescott. It contains about 133,000 square feet of traditional, enclosed mall space and about 192,000 square feet of pad space. The unnamed seller was represented by CBRE’s Mindy Korth, Philip D. Voorhees, George Good and Patrick Connell.