One of the most notable characteristics of an attractive asset these days is one with a credit-worthy single tenant with a long term lease. Add to that the 100 percent net zero solar energy flex-tech-manufacturing R&D space that the property offers, and you can see how it may draw interest from buyers across the region and beyond. The buyer, an entity associated with Dublin, Calif.-based Landmark Exchange Management, paid $29.6 million, or roughly $360 per square foot, to acquire the 82,408 square-foot property from Sharp Development. The sale closed on November 18th, according to public records, and a $16 million loan secured the purchase for Landmark. The cap rate on the transaction was 5 percent.
The sale was brokered by Dan Bergen and Jason Allen, and the financing was arranged by Jim Henderson, all from Kidder Mathews.
For the full story, go to The Registry Bay Area.
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