SAN FRANCISCO—The sale of Arroyo Center, a two office/R&D buildings totaling 104,741 square feet in Pleasanton, CA, is a done deal. HFF marketed the properties on behalf of the seller, a joint venture between Cannae Partners and certain affiliates of Westport Capital Partners LLC.
Embarcadero Capital Partners LLC purchased the assets for an undisclosed amount free and clear of existing financing. HFF did not have any additional information to disclose to GlobeSt.com by deadline.
Arroyo Center is located at 5758-5794 W. Las Positas Boulevard within the Hacienda Business Park between Walnut Creek and Silicon Valley in Pleasanton. The 6.69-acre site is within 1.5 miles of the Dublin-Pleasanton BART station and less than two miles from the 1-580 and 1-680 interchange providing access to the greater San Francisco Bay area.
The properties were renovated in 2013/2104 and are fully leased to two tenants: Hewlett-Packard and Gatan, a subsidiary of Roper Industries. The HFF investment sales team representing the seller was led by managing director Steven Golubchik and director John Simerlein.