SANTA CLARA-Regency Capital Partners (RCP) has arranged a joint-venture for the acquisition of an existing 36,000 square foot office building here on behalf of Toeniskoetter Development, Inc. Purchased from Applied Materials, the approximately 40-year-old property at 3303 Scott Blvd. is positioned for redevelopment into a three story, 75,000 square foot, class A office building with parking for 270 vehicles. The property is located approximately 1 mile from Highway 101 on the corner of Scott Boulevard and Bowers Avenue.
RCP arranged the joint venture on behalf of Toeniskoetter Development, Inc. with Washington Capital Management (WCM), an investment advisory firm based in Seattle, WA. WCM invests approximately $2.6 billion in assets in pooled or separate accounts for over 110 primarily institutional clients through their offices in Seattle, Portland, Spokane, Anchorage, Southern and Northern California. The venture is prepared to break ground on the new development for an early 2015 move-in on either a spec or build-to-suit basis and will lease out the building during the planning process.
Jonathan Soffer of RCP led the advisory team securing the joint venture on behalf of Toeniskoetter Development Inc. Brad Krouskup, president and CEO of Toeniskoetter Development, and Dan Amend, executive vice president of Toeniskoetter Development and president of Toeniskoetter Construction, led the acquisition and development team.
Based in San Jose, CA, Toeniskoetter Development specializes in the formation of real estate investment partnerships, developing commercial and industrial properties, and providing property management services. Since 1983, TDI has built a reputation for excellence by completing a wide range of successful projects throughout Santa Clara and Santa Cruz counties. Current activities also include Monterey County.
Regency Capital Partners (RCP) is one of the premier real estate capital advisory firms specializing in arranging debt and equity for a wide spectrum of clients, from regional investors and developers to some of the largest public and private real estate companies throughout the country.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
