September 10, 2012, Livermore – Dan Bergen, Michael Lloyd and Andy Zighelboim of Colliers International, represented Greenville Investors an affiliate of Pacific Union Holdings, www.puholdings.com in the sale of Pacific Corporate Center. The five parcel, 208,000 sf five-building complex on 13.6 Acres, is located at 7005 Southfront Road, 7401-7501 Longard Road and 501 Lawrence Road, Livermore. The Buyer was an entity controlled by Vertical Ventures Capital LLC and their JV equity partner. Colliers International was the only broker in the transaction, price is not disclosed.
Vertical Ventures, a closely held real estate development and management firm focuses on value-add opportunities in the greater Bay Area. The managing partner stated: “this project represented an opportunity to acquire an institutional quality asset at an attractive price with potential upside as the anchor tenant continues to improve their business fundamentals.” FormFactor (FORM on the NASDAQ) is the primary tenant, leasing 4 of the 5 buildings long term for their Corporate Headquarters and primary worldwide R&D, manufacturing facility.
This large Leased Investment sale may confirm the next cycle surge of institutional money, back into our I-580 corridor Livermore Market. “Despite the slowdown, the Tri-Valley Commercial Real Estate Market remains a popular choice for well capitalized opportunistic investors.” says Michael Lloyd and Dan Bergen of Colliers International.
Greenville purchased this raw land back in 2001, successfully designing, planning, and constructing the Class-A high image corporate business park. Bergen and Lloyd represented Greenville with the land acquisition, design and swift leasing and Andy Zighelboim’s, Investment Services Group worked with them on the successful sale of the Leased Investment. Greenville retained ownership of 3 vacant parcels totaling approximately 10 acres at the center that are currently available for sale or a potential build-to-suit.
About Colliers International
Colliers International is the third-largest commercial real estate services company in the world, with over 12,300 professionals operating out of more than 520 offices in 62 countries. A subsidiary of FirstService Corporation (NASDAQ: FSRV; TSX: FSV and FSV.PR.U), it focuses on accelerating success for its clients by seamlessly providing a full range of services to real estate users, owners and investors worldwide. Colliers Parrish International, Inc., dba Colliers International, is headquartered in San Jose and has 11 offices in California and Nevada. For additional information visit www.colliers.com