Mohr Capital Sells 4-Building, Single Tenant Asset in Livermore for $31.2MM

iStar, Livermore, Pacific Corporate Center, Form Factor, Mohr Capital, Colliers International, San Francisco, Pleasanton

Livermore, CA (January 29, 2019)  – iStar, a national commercial real estate investment firm, recently paid $31.2 million for a 100% leased office/flex project in Livermore, California. iStar closed on Pacific Corporate Center, a 161,636 square foot 4 building project on 11.29 acres in December. The project is occupied by the publicly traded Form Factor, Inc. (FORM).

iStar finances, invests in and develops real estate and real estate related projects as part of its fully integrated investment platform. Building on over two decades of experience and more than $35 billion of transactions, iStar brings uncommon capabilities and new ways of thinking to commercial real estate and adapts its investment strategy to changing market conditions.

“Mohr Capital originally purchased this asset in 2016. They subsequently were able to create additional value by completing a long term lease extension with the tenant, Form Factor. With a new 10 year lease in place, the campus became a great opportunity for an investor looking for a single tenant, long term, triple net lease,” said Michael Carrigg, SIOR, Senior Vice President at Colliers International. “The Tri-Valley and surrounding San Francisco East Bay market continues to have robust activity on both the leasing and investment sale fronts.”

Michael Carrigg, SIOR and Michael Donnelly, SIOR of Colliers International in Pleasanton represented the seller in this transaction, along with the Colliers Capital Markets Advisory team out of San Francisco, led by Bob Gilley, Kevin Moul and Andy Zighelboim.

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