Full Service Bay Area Real Estate Firm and Global Investment Management Leader Join Forces and Foray into Downtown San Jose
Emeryville, Calif. (December 19, 2013) – Harvest Properties, a full service commercial real estate investment and development firm based in Emeryville, today announced it has purchased 60 South Market Street in San Jose, California.[contextly_sidebar id=”6bbf009b53a81e75db35b43353328120″]Harvest Properties acquired the property from Ares Management with partner LaSalle Investment Management for an undisclosed sum. The transaction is the debut acquisition for Harvest and LaSalle as partners as well as the first investment for both in downtown San Jose.
Investment brokers involved in the transaction include Jeffrey Weber, Greg Coith, and Edmund Najera of Eastdil Secured. 60 South Market is a 232,536 square foot, 14-story Class “A” office tower centrally located in Silicon Valley’s downtown San Jose. Prominently positioned on the east side of Market Street, the property represents one of the finest downtown office towers with recently renovated common areas and on-site amenities that include a fitness center, conference room and outdoor balconies. With easy access to Highway 87 and Interstate 280, the p roperty provides direct access to key commute corridors and is within walking distance to Caltrain, the VTA light rail, and a myriad of amenities including San Pedro Market.
“Downtown San Jose’s access to Caltrain and VTA make it a viable option for Silicon Valley employers looking to attract a workforce that increasingly values these transportation options,” said John Winther, founder and Managing Partner of Harvest Properties. “There are over 650 residential units currently under construction downtown, which will further enhance the amenity base that already exists in the CBD. Mr. Winter added,“We are honored to complete our first transaction with partner LaSalle Investment Management and enter the downtown San Jose market together with this important acquisition.
Harvest Properties will provide property management services for the asset. Jeff Houston and Vincent Scott of CBRE are representing Harvest as listing agents.
About Harvest Properties
Founded in 2002, Harvest Properties is a full service commercial real estate investment firm specializing in acquiring, developing, managing and financing commercial property, primarily through joint venture investments in Northern California. Harvest Properties strives to generate attractive returns for its financial partners and provide creative real estate solutions and outstanding service. Harvest Properties’ portfolio comprises approximately nine million square feet of office, industrial, R&D and retail properties in the San Francisco Bay Area.