Santa Clara Towers SantaClara Towers, a 445,000 square-foot property, comprises twinclass-A office towers.

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SANTA CLARA, CA—Shorenstein Properties LLC sold Santa ClaraTowers to an undisclosed institutional investor. The terms of thetransaction were not disclosed.

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Located along Highway 101 in the Golden Triangle submarket, themore than 445,000 square-foot property comprises twin class-Aoffice towers capable of accommodating a range of full floor andmulti-tenant configurations. Santa Clara Towers offers access toRoute 237 and Interstate 880, and is near major hotels,universities and San Jose International Airport.

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Shorenstein's Ninth Fund initially acquired the mezzanine loanon Santa Clara Towers from Lehman Brothers in 2008, and thenthrough a deed in lieu of a foreclosure transaction, assumedownership of the property in 2010. Shorenstein has invested capitalto make a number of enhancements to the property, including a fulllobby renovation at Tower II, new corridor lighting and elevatorfinish upgrades. These improvements accompany a strong suite ofonsite amenities such as a newly renovated fitness center, indoorpool, spacious parking structure and the iconic Birk'sRestaurant.

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Russell Ingrum, Joe Moriarty, Scott Prosser and Jack DePuy withCBRE represented Shorenstein in the transaction.

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.