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| Ten Almaden, 10 Almaden Boulevard, Downtown San Jose, CA |
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| Steven Golubchik |
SAN FRANCISCO, CA – HFF announced today that it has closed
the sale of Ten Almaden, a 309,255-square-foot, transit-oriented, Class
A office building in downtown San Jose, California.
HFF
marketed the property on behalf of the seller, Equity Office Properties. The asset was purchased by KBS Capital
Advisors for an undisclosed amount.
Completed in 1988 and renovated in 2010, Ten Almaden is a 17-story, LEED
Certified Gold office tower that is 89 percent leased to tenants including
Citibank, Comcast, Robert Half International, Rosetta Marketing Group and
Turner Construction Company.
The property
features a three-story atrium and lobby, fitness center with outdoor pool,
sauna and showers, a six-level parking structure and café.
Situated on a 1.64-acre site at 10 Almaden Boulevard, the
property is within walking distance to the San Jose Diridon Transit Station
served by Caltrain, Amtrak, ACE commuter rail, VTA light rail, bus lines and
the planned California High-Speed Rail connecting downtown San Jose to San
Francisco and the Peninsula.
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| Michael Leggett |
The property is also convenient to Interstates 280, 680,
880, Highways 87 and 17 and US 101 as well as being a five-minute drive from
San Jose’s Norman S. Mineta International Airport.
The HFF investment sales team representing the seller was
led by managing director Steven Golubchik, senior managing director and
co-head of HFF’s national office investment sales platform Michael Leggett and
director John Simerlein.
“Ten Almaden has an outstanding location in San Jose’s
downtown core, which is appealing to Millennials for a variety of reasons
including its proximity to newly-built housing and a dense amenity base
including San Pedro Square and SAP Center,” said Golubchik.
Equity Office Properties is one of the largest and most
well-respected commercial real estate firms in the nation, with a portfolio
encompassing 70 million square feet of Class A office space under management in
superior locations throughout the country.
For more information, visit www.equityoffice.com.
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| John Simerlein |
KBS Capital Advisors is KBS REIT II’s external advisor and
is an affiliate of KBS Realty Advisors, a private equity real estate company
and SEC-registered investment adviser founded by Peter Bren and Charles
J. Schreiber in 1992.
Since its inception,
KBS and its affiliated companies have completed transactional activity of more
than $30 billion via 14 separate accounts, six commingled funds, five sovereign
wealth funds and five non-traded REITs. For information, visit www.kbscapital.com.
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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