October 28, 2016
A fund sponsored by Los Angeles-based CBRE Global Investors acquired California Plaza in Walnut Creek, CA from New York City-based Tishman Speyer. Public records show the 10-story, 394,123-square-foot Class A office building traded hands for $131.95 million.
The BART station-adjacent property is set to undergo a repositioning, including implementation of CBRE Global Investors’ 5-Star Worldwide service and amenity program. A new indoor/outdoor conference/amenity center with a management office will be added, along with upgrades to common corridors, elevator lobbies and restrooms.
CBRE Global Investors’ Vance Maddocks says, “California Plaza is a great fit for our investment plan to acquire transit-oriented, quality real estate in premier infill suburban submarkets.”
Newmark Cornish & Carey’s Steven Golubchik, Grant Lammersen, Tim Walling, Edmund Najera and Benjamin Bucci were the sales listing agents.
For comments, questions or concerns, please contact Dennis Kaiser