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| California Plaza, 2121 North California Boulevard, Walnut Creek, CA |
SAN FRANCISCO, CA – HFF announced today that it has been
selected to market the sale of California Plaza, a 378,696-square-foot,
Class A office building in Walnut Creek, California.
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| Steve Golubchik |
HFF is marketing the property on behalf of an institutional
investor, for an undisclosed price free and clear of debt.
The 10-story building is located at 2121 North California
Boulevard adjacent to the Walnut Creek BART station and visible from
Interstate 680 due to the distinct architecture and elevated stature of the
property.
Completed in 1985,
the building has been institutionally maintained and features state-of-the-art
building systems and a three-story subterranean parking garage.
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| Michael Leggett |
Situated on approximately 2.07 acres, the building is 89
percent leased to a variety of tenants including Blue Cross, Mass Mutual,
Sutter Health, Principal Global Investors, Mutual of Omaha and New York Life Insurance.
The HFF investment sales team representing the seller is led
by managing director Steven Golubchik, senior managing director Michael
Leggett and director John Simerlein.
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| John Simerlein |
“With market rents significantly increasing in Silicon
Valley and San Francisco, the North Interstate 680 Corridor is beginning to
capture a growing number of tenants migrating into the submarket,” commented Golubchik..
“Walnut Creek is one of the few markets in the Bay Area that
provides the combination of a strong institutional ownership base, a stable and
increasing tenant base and one of the highest barriers to entry.
“Additionally, the market rarely sees institutional
investors trade assets, which makes this a rare opportunity for prospective
buyers to plant a flag in the submarket,”
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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