San Ramon, CA (April 19, 2019) – Newmark Knight Frank (NKF) has announced the sale of Canyon Corporate Park, a 96,975 square foot R&D building in the Bishop Ranch submarket of San Ramon. The property is fully leased to three nationally-recognized tenants.
NKF Capital Markets Vice Chairman Steven Golubchik, Vice Chairman Grant Lammersen, Executive Managing Director Edmund Najera, Senior Managing Director Tyler Meyerdirk, Senior Managing Director Seth McKinnon and Associate Director Darren Hollak represented the seller as a joint venture between Cannae Partners, LLC and New York Life Investors in the transaction to the buyer Dollinger Properties.
Canyon Corporate Park is one of only a few R&D assets in the San Ramon market. The one-story building features high quality finishes including an energy efficient cooling system, 18-foot clear heights, a loading dock with six rollup doors, four levelers and a large concrete truck apron.
“There has been a surge in demand for R&D product in the Tri-Valley, driving substantial rent growth. Canyon Corporate Park’s distinction as one of few R&D buildings in the San Ramon market gathered substantial interest from investors,” said Golubchik.
The property is located one mile from the City Center Bishop Ranch, a new public square with 300,000 square feet of upscale retail, hotel, dining options and entertainment experiences.
About Newmark Knight Frank
Newmark Knight Frank (“NKF”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, NKF’s 16,000 professionals operate from approximately 430 offices on six continents. NKF’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.