LIVERMORE, CALIF. — CB Richard Ellis Realty Trust, a REIT sponsored by CB Richard Ellis Investors, has acquired a three-building office campus located within Tri-Valley Technology Park in Livermore. The 219,631-square-foot campus is long-term leased to Comcast through 2023.
“We’re in the process of a continuing offering right now,” explains Philip Kianka, CCO and executive vice president of CBRE Realty Trust. “We’re in acquisition mode and the property, with its long-term lease to a reliable company, was a strategic move for us.”
Located at 3011, 3055 and 3077 Comcast Pl., the 26-acre office campus features two single-story buildings and one two-story office building. The properties recently underwent major renovations as part of Comcast’s plan to house approximately 1,000 employees at the campus. The campus currently serves as Comcast’s regional headquarters, call center and technical operations center.
The acquisition, which is CBRE Realty Trust’s first in the San Francisco Bay area, also fulfills the company’s desire to expand geographically by raising equity through a selective and disciplined acquisition process, notes Kianka.
Additional terms of the transaction were not released.
— Amy Bigley