75,000 square foot office building re- development opportunity
SAN FRANCISCO, CA. June 20, 2013 — Regency Capital Partners (RCP) announced today that it has arranged a joint-venture for the acquisition of an existing 36,000 square foot office building located at 3303 Scott Blvd. in Santa Clara on behalf of Toeniskoetter Development, Inc. Purchased from Applied Materials, the approximately 40 year old property is positioned for redevelopment into a three story, 75,000 square foot, Class A office building with parking for 270 vehicles. The property is located approximately 1 mile from Highway 101 on the corner of Scott Blvd. and Bowers Ave. in Santa Clara, CA.
RCP arranged the joint venture on behalf of Toeniskoetter Development, Inc. with Washington Capital Management (WCM), an investment advisory firm based in Seattle, WA. WCM invests approximately $2.6 billion in assets in pooled or separate accounts for over 110 primarily institutional clients through their offices in Seattle, Portland, Spokane, Anchorage, Southern and Northern California. The venture is prepared to break ground on the new development for an early 2015 move-in on either a spec or build-to-suit basis and will lease out the building during the planning process.
Jonathan Soffer of RCP led the advisory team securing the joint venture on behalf of Toeniskoetter Development Inc. Brad Krouskup, President and CEO of Toeniskoetter Development Inc., and Dan Amend, executive vice president of Toeniskoetter Development and president of Toeniskoetter Construction, led the acquisition and development team.
About Toeniskoetter Development Inc. (TDI)
Based in San Jose, CA, Toeniskoetter Development specializes in the formation of real estate investment partnerships, developing commercial and industrial properties, and providing property management services. Since 1983, TDI has built a reputation for excellence by completing a wide range of successful projects throughout Santa Clara and Santa Cruz counties. Current activities also include Monterey County. Charles J. Toeniskoetter and Dan Breeding co-founded Toeniskoetter Development in 1983.
About Regency Capital Partners
Regency Capital Partners (RCP) is one of the premier real estate capital advisory firms specializing in arranging debt and equity for a wide spectrum of clients, from regional investors and developers to some of the largest public and private real estate companies throughout the country. The firm is recognized in the industry for its integrity, creativity and determined advocacy on behalf of its clients. RCP’s unparalleled commitment to the implementation of its clients financing objectives distinguishes it within the financing industry. During their tenure, the principals of Regency Capital Partners have closed over $5 billion of debt and equity transactions throughout the United States.