March 29, 2017 Comments Off on Hines, Oaktree Acquire East Bay Asset Views: 417 Bay Area, California News

Hines, Oaktree Acquire East Bay Asset

Houston-based Hines and a fund managed by Los Angeles-based Oaktree Capital Management LP acquired Dublin Corporate Center, a three-building, 440,266-square-foot office campus in Dublin, CA. Financials on the deal were not disclosed.

The 18-acre East Bay asset was acquired from JPMorgan Chase & Co., which had acquired it in 2013 for $102.8 million.

Located in the Tri‐Valley submarket at 4120-4160 Dublin Blvd., Dublin Corporate Center was built in 2000‐2001. The campus is 83% leased to a tenant roster that includes Epicor Software, iTrade Networks and Callidus Cloud.

Hines plans to pursue strategic capital upgrades to the Class A office campus, including exterior improvements, common area upgrades and market-ready suites, in order to capture current market leasing momentum.

JLL arranged the sale, and CBRE is responsible for the property’s leasing.

Read more at Hines

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