May 27, 2015
Some industrial assets in Pleasanton have made a splash in the transaction market. The three East Bay warehouse/distribution centers commanded $35.1 million and were acquired by Ridge Capital Investors LLC and Contrarian Capital Management LLC.
The joint venture bought the properties in a deal brokered by special servicer CW Capital. The assets are part of the Hacienda Business Park.
Asking rents in the buildings, which total just over 191,000 square feet, are at $19.20 per square foot. Currently, there is 40,000 square feet of vacant space.
Ridge Capital is going to pump $3 million into the facilities for renovation and plans to rename the area as Diablo Technology Center.
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Tags: Financing, Industrial, Lease, Technology
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