The properties, known as Projects 702 and 703, are 249,000-sfand 258,000-sf, respectively, and include 10 buildings that are100% leased to a total of 15 electronics and technology companies,including Seagate, Minolta, Silicon Valley Group and New Focus. Theproperties were developed in the early 1980s by Orchard Properties,which developed more than 4.5 million-sf along the North FirstStreet corridor. For Pacific Coast Capital Properties, thisacquisition is the first joint venture with Blackstone Real EstateAdvisors and the second joint venture with Orchard Investors.

Pacific Coast Capital Properties, a private investment firm thatprovides real estate capital, has acquired 12 properties this year,says Aaron Giovara, a partner with Pacific Coast CapitalProperties. Some of the joint venture purchases include ScrippsRanch Business Park, a 310,000-sf R&D property in San Diegothat it purchased for $41 million with Newport National; 160 KingSt., 173,000-sf Class A office space it purchased for $59 millionwith Rosenburg Hood Ventures and Orchard Evergreen TechnologyCenter; and a 122-acres parcel of land in San Jose that wasacquired in a partnership with Orchard Properties LLC fordevelopment as business park.