DivcoWest Sells Plaza San Ramon for $72.2MM

DivcoWest, Plaza San Ramon, Crow Canyon Place, San Ramon, C-III Capital Partners, Steelwave, Walnut Creek BART, Toll Brothers, Elevators, Galena Biopharma, ENGEO Incorporated
Legacy Partners

By Vladimir Bosanac

San Francisco-based DivcoWest has completed the sale of Plaza San Ramon, a two building Class B office complex totaling approximately 312,000 square feet at 2000-2010 Crow Canyon Place in San Ramon, Calif. Divco sold the property for $72,181,500, according to public records, or just over $231 per square foot. Divco had owned the property April of 2016, when it paid $47.6 million, or just over $152 per square foot. The buyer was Irving, Tex.-based C-III Capital Partners.

The sale closed on March 21st, 2018.

Built in the late 1980s and renovated by Steelwave, the prior owner, in 2008, the development is in an excellent location for quick access to I-680’s Crow Canyon Road on/off ramps and is surrounded by executive housing markets in Alamo, Blackhawk, Diablo and Danville. The property is served by public transit, including the CCCTA’s 321 bus connecting the property to the Dublin and Walnut Creek BART stations.

Plaza San Ramon consists of two 4-story, Class A office buildings containing office and retail space in a campus-like setting. The property features landscaped grounds with an inviting courtyard containing outdoor seating and a water feature. The buildings feature marble lobbies and views of the surrounding foothills, with floorplates that can accommodate both single- and multi-tenant occupancy. Easy access to public transportation that connects to the Walnut Creek and Dublin BART stations is located in front of the property.

According to Google Maps, some of the tenants in the two buildings include Toll Brothers, thyssekrupp Elevators, Galena Biopharma and ENGEO Incorporated.

West Coast Commercial Real Estate News