No asking price has been divulged, but industry observerssuggest the property could sell for something in the neighborhoodof $220 million. John Frandson, the company's director ofacquisitions and dispositions, projects a deal will close by theend of the year.
The company acquired the land at 7011 Koll Center Parkway in1987 and built the office park over the next few years. Thedecision to sell the holding now come as part of a restrategizingof its portfolio.
The park is situated near I-680. The property is currently about95% occupied by some 180 tenants, including RMC Pacific Materials,Greystone Homes Inc. and Leisure Sports Inc. The project is 96%office and 4% retail.
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