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October 21, 2020 Comments Off on Overton Moore Picks Up Second Bay Area Value-Add Asset Views: 491 Bay Area, California News

Overton Moore Picks Up Second Bay Area Value-Add Asset

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Concourse Tech Park, a 110,148-square-foot office and R&D building in San Jose, traded hands for $13.5 million. The buyer was Overton Moore Properties, while an unnamed private, family divested the property.

Overton Moore Properties’ Will McPhee says, “We are delighted about the Concourse Drive acquisition. This is our second value-add opportunity in the Bay Area this year.”

Located at 1953-1965 Concourse Dr., the highly flexible property is currently 10% leased providing a significant value-add opportunity with a leasing upside. Concourse Tech Park boasts ample clear heights, two loading docks, eight at-grade roll-up doors, substantial power and ample parking.

Newmark’s Steven Golubchik, Edmund Najera, Seth McKinnon, Darren Hollak and Jack Phipps represented the seller, as well as the buyer.

Najera says, “Concourse Tech Park is ideally located within proximity to some of the world’s most prominent technology companies and within direct access to the 680 and 880 Freeways as well as the recently completed Milpitas BART station.”

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