Meridian Sells Sutter Square Office Asset in Northern California for $30.9M

CONCORD, CALIF. — Meridian has completed the sale of Sutter Square, an office building located at 1800 Sutter St. in Concord. A joint venture between Barker Pacific Group and Iron Point Partners acquired the 174,689-square-foot asset for $30.9 million.

When Meridian purchased the property in August 2017, it was 78 percent occupied. Meridian invested more than $4 million in interior renovations and brought occupancy up to nearly 90 percent.

Scott Ellis and Eric Erickson of Colliers International managed the leasing efforts at the property. Bob Gilley, Brad Idleman and Andy Zighelboim of Colliers International represented the buyer and seller in the deal.