WALNUT CREEK, CA. – FEB. 12, 2018 – Transwestern today announces the sale of the Oak Hill West office complex in Lafayette, California. The four-building complex totaling 46,935-square-feet sold for close to $9.8 million, approximately $210 a square foot, to Oak Hill Grove LLC. Transwestern Senior Managing Director Edward Del Beccaro, Vice President Sade Ghorban, and Associate Matt Hatfield represented the seller.
“This was a good opportunity for both buyer and seller. The Lafayette office market is seeing single-digit vacancy and historical rental rates,” said Del Beccaro.
The site is located just off Highway 24, with proximity to BART on the western side of downtown Lafayette and close to potential new housing developments. As residential conversion makes office space in Lafayette scarce, Oak Hill Grove management is committed to enhancing this office complex, providing a much-needed, long-term option for innovative businesses and professionals seeking community-based space in highly desirable central Lafayette.
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Management, Tenant Advisory, Capital Markets, Research and Sustainability services, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the West region, follow @TranswesternWST.