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Walnut Creek Center was acquired for $90 million by a joint venture between Los Angeles-based PCCP, LLC and San Francisco-based Align Real Estate. The 236,122-square-foot transit-oriented office asset was divested by Northwestern Mutual.
The 96%-leased property is located at 100 and 200 Pringle Ave., adjacent to the Walnut Creek BART station. The tenant base includes Union Bank, engineering firm HDR, Inc., Ameriprise Financial, Alaska National Insurance Company, Scottrade and Northwestern Mutual.
NGKF Capital Markets’ Steven Golubchik, Grant Lammersen, Tim Walling and Nicholas Alimam represented the seller. The buyers were self-represented.
This transaction marks the first sale of the Class A asset since originally developed in 1983. Walnut Creek Center is close to Interstate 680, and adjacent to the proposed master-planned Walnut Creek BART Transit Village, which is scheduled to break ground later this year.
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