Drawbridge Realty Takes Ownership of Rose Orchard
Following its acquisition of Rose Orchard in 2015, Shorenstein invested significant capital and undertook an expansive renovation which resulted in a full leasing of the property prior to its sale to Drawbridge.
SAN JOSE—Shorenstein Properties LLC sold the Rose Orchard campus to Drawbridge Realty Management. The terms of the transaction were not disclosed.
The Rose Orchard complex, located within the Golden Triangle at 180 Rose Orchard Way, comprises five office and research and development buildings on an 18-acre campus totaling 315,000 square feet. The property has access to State Route 237, US Highway 101, Interstate 880 and other major thoroughfares.
Following its acquisition of the property in 2015, Shorenstein invested significant capital and undertook an expansive renovation of Rose Orchard. At the time, Rose Orchard was approximately 30% leased, and four out of five buildings on the campus stood vacant.
In the last four years, Shorenstein has substantially improved the vacant buildings, including upgrading the entryways and lobbies, building out the interior space with creative and functional finishes, and adding outdoor collaborative space. Today, three of the previously vacant buildings have been leased to new tenants, and an existing tenant has leased the fourth, further expanding its presence at the property. The creative work environment is now 100% leased.