Capital improvement project announced for Class A office tower in Walnut Creek
WALNUT CREEK, Calif. (Dec. 1, 2017) – CBRE Global Investors shared plans today for its $5.4 million renovation project at Cal Plaza, a 10-story Class A office tower adjacent to the BART station in Walnut Creek. The renovations will create a newly energized workplace environment and position the building as one of the premier talent hubs in San Francisco’s East Bay Area.
Improvements to the 394,123-square-foot tower include a dynamic 5-Star conference center, which features tech-equipped conference rooms, collaborative co-working spaces, meeting and event space and a full-service catering kitchen; a new outdoor plaza with bocce ball and recreational areas and open-air conference rooms; a state-of-the-art fitness center with athletic-grade cardio machines and strength training equipment; and sleek corridor finishes. Renovations are underway, and are expected to be completed by the end of the year. Additionally, the on-site café at Cal Plaza, Murphy’s Deli, is undergoing a modernization plan highlighted by new interior flooring and updated menu features that include champagne brunches on the weekends. Murphy’s features hot and cold menu options for breakfast and lunch with seated or on-the-go dining, and also includes specialty catering.
Spec suites offering spectacular views of nearby Mt. Diablo and featuring open office layouts that range from 1,400 to 44,776 square feet are available throughout the building. Several companies have relocated to Cal Plaza in recent months, with a dynamic tenant roster that includes tech-oriented firms like YapStone, Skuid and Cypress HCM, along with professional service providers such as CSE Insurance and Standish Management. The building’sclose proximity to mass transithas also proven to be attractive for employers in need of a diverse talent pool that spans the Bay Area.
“Cal Plaza is not just a place to come to work, but a vibrant community that embraces a comprehensive live-work-play experience sought out by today’s modern professional,” said Kirk Beebe, senior vice president at CBRE. “This investment reflects our strong commitment to delivering a cutting-edge workplace environment that effectively blends urban-style amenities with the benefits of suburban convenience.”
Tenants of Cal Plaza are within minutes of hundreds of restaurants and retail destinations, including the popular Broadway Plaza shopping district in downtown Walnut Creek, as well as the future Walnut Creek Transit Village mixed-use development. Several new multifamily developments near the building are also expected to come online over the next several months. Office workers can also use the city’s free trolley service that runs to downtown and the BART station on regular 15 minute intervals, or take advantage of a new Zagster bike share program offered at Cal Plaza. The building also offers immediate access for commuters on Interstate 680 and State Highway 24.
“Environment is a huge component of a successful workday, and Cal Plaza has certainly helped maximize our investment in that area,” said May Hanecak, Office Manager for YapStone. “The improvements are creating a new level of energythatbuilds community and enables engagement. The location advantage and CBRE’s commitment to make our space a future-ready workplace sets Cal Plaza apart from other buildings. We look forward to partnering with them in the years ahead.”
CBRE Global Investors acquired Cal Plaza in 2016. Cal Plaza has joined CBRE’s exclusive “5-Star Worldwide” program, a national network of top-tier office buildings that attract and retain talent through a comprehensive range of professional services, hospitality and events. Through this network, Cal Plaza tenants have access to amenities offered at all5-Star Worldwide properties.
About CBRE Global Investors
CBRE Global Investors is one of the world’s largest real estate investment management firms with $86.5 billion in assets under management. The firm sponsors real estate investment programs across the risk/return spectrum in North America, Europe and Asia for investors worldwide including public and private pension funds, insurance companies, sovereign wealth funds, foundations, endowments and private individuals. Programs include core/core-plus, value-added and opportunistic strategies through separate accounts and commingled equity funds, debt investment, global multi-manager programs and listed global real estate securities vehicles.