SAN JOSE, CA—Shorenstein Properties LLC hasclosed on its purchase of the first phase of ChampionStation, a four-building, low-rise office and R&Dcampus at 110-180 West Tasman Dr. in North San Jose. Terms of thepurchase, which was concluded with TMG Partners,were not disclosed.

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The four buildings, totaling 426,000 square feet, are currentlyfully leased to Champion Station on a short-termbasis. “This is an opportunity to reposition a well-located campusin a market with strong leasing demand and a dearth of availableblocks of office space to accommodate large users,” saysDouglas W. Shorenstein, CEO and chairman,Shorenstein Properties LLC.

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Mike Seifer, managing director ofJLL, who represented the seller, tells GlobeSt.comthat “There was broad investor interest in this opportunity andtenant activity in the immediate area continues to escalate. This really demonstrates the continued improvement, maturation andimportance of the north San Jose submarket and how this market hasbeen transformed by the entertainment (Levi Stadium), retail andhousing development that has occurred in the neighborhood.”

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Champion Station is located in North San Jose, in an area thathas seen significant ongoing capital investment by both public andprivate investors. The property is approximately 1.5 miles fromLevi's Stadium, the recently opened home of theSan Francisco 49ers, as well as extensive retail and restaurantamenities.

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Two major mixed-use developments, totaling more than $7 billion,have been proposed nearby and at least one of those developments isanticipated to begin construction in 2016, according to a preparedstatement.

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In addition to its location close to housing and workplaceamenities, Champion Station is surrounded by several transitalternatives including public transit (light rail, bus, Amtrak,Caltrain, free shuttles) and is within easy access of Highways 101,237 and 880 and other major thorough fares linking the property toSan Francisco, the Peninsula, East Bay and downtown SanJose.

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The property is adjacent to the Valley TransportationAuthority's Champion Station light rail stop with trains linking toCaltrain, Bay Area Rapid Transit's (BART) future Silicon Valleyextension and San Jose Mineta InternationalAirport.

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Champion Station is the first investment to be completed forShorenstein Realty Investors Eleven, a closed-end investment fundformed earlier this year with $1.22 billion in committed capitalfrom Shorenstein and its investors.

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Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.