SAN JOSE-Brookfield Office Properties spent $85 million recently on a group of office buildings in the Silicon Valley totaling 459,000 square-feet, that were offered by Equity Office Properties.
According to the Silicon Valley Business Journal, this deal was part of a recent selling spree for EOP has cashed in more than 3 million square feet since September and has more deals in the pipeline.
The most recent transaction included the 373,754-square-foot Rio Robles office park, which consists of seven buildings in North San Jose; as well as the 85,585-square-foot 3553 North First St., which is located adjacent to the Rio Robles Properties. The transaction was arranged by Joe Moriarty of CBRE's San Jose office.
Many of the buildings that EOP has sold in recent months, including those in last week's deal, are part of a huge CarrAmerica portfolio that EOP parent Blackstone purchased in 2006. Blackstone acquired Equity Office in 2007.
Click Silicon Valley Business Journal to read the full story.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.