East Bay Office Heats Up With Another Sale
Another office building just changed hands in the East Bay. Colliers International negotiated the $12.6M sale of a fully occupied 62,864 SF office in Pleasanton to Westwood Co-Warm Springs. The two-story building at 5000 Franklin Drive is occupied by a division of St. Jude Medical and D+H Financial. St. Jude recently renewed its lease.
“The Pleasanton market is in such high demand that this property represents an excellent investment opportunity,” Colliers International VP Bryan Webb, above, says. “Between low vacancy rates and high rent, this 100% leased building was an attractive deal for both the seller and buyer.”
Bryan, along with Colliers International SVP James Kaye, SVP Jay Gomez, VP Kevin Mogul and SVP Brian Lagomarsino, repped the seller, Franklin Drive LLC.
The 3.75-acre site is close to the Dublin-Pleasanton BART station, I-580 and I-680.
Other recent East Bay office sales include the sale of Walnut Creek's California Plaza last month and LEI's purchase of a 105k SF office building in Walnut Creek in September.
