SANTA CLARA, CALIF. — TMG Partners, a San Francisco-based developer, has acquired The Quad, a 410,106-square-foot office campus in Santa Clara, a suburb of San Jose. J.P. Morgan Chase sold the property for an undisclosed price.
Located at 3001 Tasman Drive, The Quad consists of seven two-story buildings that were constructed in 1982. Multiple owners and operators have acquired and renovated the property since its construction.
The property is adjacent to the VTA Light Rail station three blocks from Levi’s Stadium, home of the NFL’s San Francisco 49ers. The Quad is also located four blocks from the upcoming Related Santa Clara, a 9.2 million-square-foot mixed-use project by Related Cos., which is also developing the high-profile Hudson Yards in Manhattan.
Amenities include an outdoor courtyard, coffee shop, bocce ball court, food truck court and fitness center. The site is also entitled for an additional 150,000 square feet of construction.
“TMG Partners was attracted to this property because of its stable, long-term cash flow; the Santa Clara location; our understanding of the need to provide office space for the many different size requirements of today’s tenants; and the existing suite of amenities,” says Ben Kochalski, regional partner with TMG Partners. “We will continue to add amenities and improvements with the confidence we will attract more businesses looking to headquarter in this location.”
TMG was represented internally in the transaction. Eastdil Secured represented J.P. Morgan.
— Alex Patton