Stanley Group Acquires 3340 Walnut in Fremont for $20.3MM

Los Gatos CA, (June 12, 2018) – The Stanley Group, Inc. is pleased to announce its acquisition of Parkway Center, a two-story, 71,742-square-foot multi-tenant office building located at 3340 Walnut Avenue in Fremont, CA.

NKF Capital Markets Vice Chairman Steve Golubchik and Director Tim Walling represented the buyer The Stanley Group Inc. Los Gatos, CA as well as the seller Bayside Realty in the transaction.

Parkway Center is a 100% occupied multi-tenant office building, with tenants that include Lipman Insurance Administrators, Coldwell Banker, Chicago Title, and The Center of Speech. The property is ideally located in close proximity to the Fremont BART Station and is surrounded by numerous retail amenities. The property also provides for potential redevelopment to multifamily. “Parkway Center offered a great opportunity for an investor to increase NOI by bringing the current tenants to market rents to take advantage of the dwindling office supply. Given that Parkway Center is part of a multi-family zoning overlay, it is a prime candidate to be redeveloped in the coming years.” said Walling.

Russel Stanley President of The Stanley Group, stated we are excited to add such a strong performing property to our portfolio. Parkway Center’s location is second to none. Within easy walking distance to the new city hall and civic areas of Fremont and BART, Parkway is an ideal asset for us to own and manage.

About The Stanley Group, Inc.
The Stanley Group, Inc., located in Los Gatos, CA has over 30 years of experience specializing in the investment, development and management of commercial real estate. Its focus is on acquiring new and existing assets, repositioning those assets through improved management and capital improvements, retaining ownership and managing those assets for its own account.

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