SAN JOSE—If there are doubts in the voracity of the Northern California market, the fact that large deals keep getting done should dispel that notion. Demonstrating the continued strength of the commercial real market, the local chapter of SIOR awarded its top deals for last year. Three of the transactions were in the Bay Area/Sacramento.
In the industrial slot, the 360,839-square-foot sale transaction between Highridge Provender and Morgan Stanley in Richmond, CA, San Jose and Vernon, CA, got top billing at $82.75 million. The deal was brokered by Kevin Hatcher and Mark Maguire of Colliers International.
The flex R&D, 534,000-square-foot transaction from 2500 Bates LLC to Birtcher Anderson in Concord, Fairfield and Folsom, CA was valued at $63.4 million. The deal was brokered by Tony Binswanger and Brooks Pedder of Cushman & Wakefield.
A joint venture consisting of Birtcher Anderson Realty in conjunction with Merced Capital LP of Minneapolis and Restart Investments of Kentfield, CA, came together to acquire the properties. With multiple product types and strategic locations, a portfolio provided an opportunity to acquire a critical mass of high-quality real estate. The properties include diverse users including government, media, healthcare, education and insurance entities.
“Investors were betting on the concentric circles of market recovery to reach Fairfield and Folsom, and these properties do have significant value,” Pedder told GlobeSt.com. “They are well positioned with freeway access in good business climates with functional designs including storefront entries.”
Sleepy Hollow Investments sold a 107,107-square-foot office property in San Jose to Briggs Development for $22.925 million. Duffy D'Angelo and David Schmidt of Colliers International brokered the transaction.
The SIOR Northern California chapter board for 2017 is president Todd Severson, Colliers International; vice president/incoming president John Hans, Rossetti Company; chapter secretary Ed Hofer, Colliers International; chapter treasurer Greg Shutt, Colliers International, and chapter membership/admissions chair Tom Tyer, Colliers International. Mark Triska, Colliers International, is the past president/advisor and Dan Dowd, Newmark Cornish & Carey, is the board member at large.
SAN JOSE—If there are doubts in the voracity of the Northern California market, the fact that large deals keep getting done should dispel that notion. Demonstrating the continued strength of the commercial real market, the local chapter of SIOR awarded its top deals for last year. Three of the transactions were in the Bay Area/Sacramento.
In the industrial slot, the 360,839-square-foot sale transaction between Highridge Provender and
The flex R&D, 534,000-square-foot transaction from 2500 Bates LLC to Birtcher Anderson in Concord, Fairfield and Folsom, CA was valued at $63.4 million. The deal was brokered by Tony Binswanger and Brooks Pedder of Cushman & Wakefield.
A joint venture consisting of Birtcher Anderson Realty in conjunction with Merced Capital LP of Minneapolis and Restart Investments of Kentfield, CA, came together to acquire the properties. With multiple product types and strategic locations, a portfolio provided an opportunity to acquire a critical mass of high-quality real estate. The properties include diverse users including government, media, healthcare, education and insurance entities.
“Investors were betting on the concentric circles of market recovery to reach Fairfield and Folsom, and these properties do have significant value,” Pedder told GlobeSt.com. “They are well positioned with freeway access in good business climates with functional designs including storefront entries.”
Sleepy Hollow Investments sold a 107,107-square-foot office property in San Jose to Briggs Development for $22.925 million. Duffy D'Angelo and David Schmidt of Colliers International brokered the transaction.
The SIOR Northern California chapter board for 2017 is president Todd Severson, Colliers International; vice president/incoming president John Hans, Rossetti Company; chapter secretary Ed Hofer, Colliers International; chapter treasurer Greg Shutt, Colliers International, and chapter membership/admissions chair Tom Tyer, Colliers International. Mark Triska, Colliers International, is the past president/advisor and Dan Dowd, Newmark Cornish & Carey, is the board member at large.
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