SAN JOSE – July 20, 2022 – CBRE announced the $38.5 million ($285 per square foot) sale of The Terraces in Pleasant Hill, Calif. from Eagle Canyon Capital to California Capital & Investment Group, a full-service commercial real estate company.
Scott Prosser, Jack DePuy, Joe Moriarty, Mike Taquino, Kyle Kovac, Giancarlo Sangiacomo and Alec Haley of CBRE’s Northern California Capital Markets team represented Eagle Canyon Capital, a real estate company based in the East Bay. Adam Ebner and Kirk Beebe of CBRE’s East Bay office served as leasing advisors.
Located at 2300 Contra Costa Boulevard in Pleasant Hill, The Terraces is a six-story, 134,759 sq. ft. building with 15 balconies. The Terraces was built in 1987 and was recently updated with modern interiors. The building is currently 87 percent leased to several companies across technology, financial and professional services.
“The I-680 Corridor office market remains an attractive investment for stable, value-add opportunities that are closer to where workers reside. The Terraces has great identity from the I-680 freeway and benefits from being walking distance from shopping, dining and entertainment in downtown Pleasant Hill and Walnut Creek,” said Scott Prosser, Executive Vice President of CBRE.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.