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| Community Towers, 111 West St. John Street and 111 North Market Street Downtown San Jose, CA |
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| Steven Golubchik |
SAN FRANCISCO, CA – HFF announced it has been selected to
market for sale Community Towers, a two-building, 309,000-square-foot,
transit-oriented office complex in downtown San Jose, California.
Community Towers is a value-add investment opportunity with 63 percent
of the rentable square feet expiring in the first three years with in-place
rents approximately 27 percent below market rents at expiration.
Located at 111 West St. John Street and 111 North Market
Street, Community Towers is adjacent to the popular San Pedro Square and
within close proximity to San Jose’s SAP Center (formerly HP Pavilion).
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| Nicholas Bicardo |
The property provides immediate access to Highway 87 with
connections to Interstates 280, 680 and 880, as well as US 101, and is a
five-minute drive to San Jose’s Norman S. Mineta International Airport.
The property was substantially renovated in 2007-2008 and is
currently 94 percent leased with notable tenants including Kerio Technologies,
Sunwize, Anatomage, and Rockwell Automation.
The HFF investment sales team representing the seller is led
by managing directors Steven Golubchik and Nicholas Bicardo and
director John Simerlein.
“Community Towers provides investors the opportunity to
acquire an asset with significant upside potential in a prime location,” said
Simerlein.
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| John Simerlein |
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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