Walnut Creek’s California Plaza Changes Hands
A fund advised by CBRE Global Investors just snatched up California Plaza in Walnut Creek for about $132M. The building was previously bought by Tishman Speyer in 2014 for $102M.
The investment management firm will reposition the 10-story, 394k SF Class-A office building with its 5-Star Worldwide services and amenity program. This will include constructing a new indoor/outdoor conference and amenity center with a management office.
Upgrades will be made to common corridors, elevator lobbies and restrooms. The firm will also pursue LEED certification. The building offers unique architecture, high-quality finishes, flexible floor plans, balconies, a fitness center, a deli and underground parking.
“California Plaza is a great fit for our investment plan to acquire transit-oriented, quality real estate in premier infill suburban submarkets,” says CBRE Global Investors Americas chief investment officer Vance Maddocks.
California Plaza is next to the Walnut Creek BART and has easy accessibility to I-680.
