Great America Parkway Asset Sells for $69.5MM

(EDITOR’S NOTE: According to public records, the asset sold for $69,542,000, or just under $310 per square foot. The seller of the asset was Pearlmark Real Estate Partners, which had owned the property since June of 2011, when it paid $45.7 million, or just over $203 per square foot. The asset was purchased by an entity called GA Parkway Property LLC, which lists its address as Nixon Peabody in San Francisco.)

San Francisco, CA (June 22, 2018) – NKF Capital Markets has announced the sale of Great America Parkway, a 224,522-square-foot office campus located at 2903 and 2993 Bunker Hill Lane and 5200 Great America Parkway in Santa Clara. NKF Capital Markets Vice Chairman Steven Golubchik and Executive Managing Director Edmund Najera represented the seller Newcastle Partners in the acquisition to the buyer.

Great America Parkway is a premier office complex located in the heart of Silicon Valley totaling 224,522 square feet. The three-building campus features various size floor plates, abundant window line, and an open layout, which accommodates both full building users and multi-tenant.

Great America Parkway is walking distance to the light rail, Santa Clara Convention Center, numerous hotels and Levi’s Stadium. The campus also offers convenient access to Interstates 101, 880 and Hwy 237.

About NKF Capital Markets
NKF Capital Markets, operated by Newmark Group, Inc., is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, our 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.

We provide access to a wide range of services, including asset sales, sale leasebacks, mortgage and entity-level financing, equity raising, underwriting and due diligence. The transactions we broker involve vacant land, new real estate developments and existing buildings. We specialize in arranging financing for most types of value-added commercial real estate, including land, condominium conversions, subdivisions, office, retail, industrial, multifamily, student housing, hotels, data center, healthcare, self-storage and special use. For further information, visit www.ngkf.com/capitalmarkets.

Newmark Group, Inc., which is listed on the NASDAQ Global Select Market under the symbol “NMRK”, is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”), a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol “BGCP”. BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol “BGCA”.

West Coast Commercial Real Estate News