SAN FRANCISCO, CA – HFF announced today that it has closed the sale of Montague Oaks Business Park (top left photo), an eight-property, 262,357-square-foot office and R&D business park in San Jose, California.
HFF’s investment sales team marketed the property on behalf of the seller, a joint venture between Prudential Real Estate Investors and McCandless Management Corporation. Eagle Ridge Partners and CarVal Investors purchased Montague Oaks for $39.5 million.
Montague Oaks Business Park is located at 611-695 River Oaks Parkway in Silicon Valley’s Innovation Triangle, close to Interstate 880, US Highway 101 and the San Jose International Airport. The property is 87 percent leased to 12 tenants including Verizon, MicroProbe, ePowersoft and Baxano.
The HFF team representing the seller included director Dave Karol and senior managing directors Michael Leggett and Gerry Rohm.
Contacts:
David Karol, Ca. Lic. #01813372, HFF Director, (415) 276 6300, dkarol@hfflp.com
Michael Leggett, HFF Senior Managing Director, (415) 276-6300, mleggett@hfflp.com,
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500 http://www.blogger.com/krmurphy@hfflp.com,
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