Two Diablo Technology Center Buildings Sell for $27.5MM, Third Under Contract

Diablo Tech Technology Center San Carlos Black Mountain Properties NGKF Capital Markets Pleasanton Ridge Capital Investors Hacienda Business Park BART Newmark Cornish & Carey BGC Partners

diablotech_small

(EDITOR’S NOTE: Diablo Tech Center I and II has been acquired by San Carlos-based Black Mountain Properties, according to sources familiar with the transaction. The purchase price was $27.5 million. The third building in the property is under contact to another real estate investor.)

NGKF Capital Markets Completes Sale of Diablo Technology Center

Pleasanton, CA—NGKF Capital Markets today announced the sale of the 191,009-square-foot Diablo Technology Center. Seller Ridge Capital Investors, LLC recently invested in significant common area, landscape, signage and tenant space improvements. Located within the Hacienda Business Park — Pleasanton, California’s premier corporate address — the Class A office/R&D property is fully leased to 11 different tenants.

NGKF Capital Markets’ Steve Golubchik, Mike Zylstra, Grant Lammersen, Forrest Gherlone, and Tim Walling handled the sale of the three-building Diablo Technology Center.

5735 West Las Positas Boulevard, a 76,894-square-foot building, is home to tenants including power management firm Eaton, sales and marketing agency Acosta, and Schneider Electric, the global specialist in energy management and automation.

4511 Willow Road, a 65,725-square-foot building, houses tenants including homebuilding company PulteGroup, Inc. (NYSE: PHM); fast oil-change concept firm Oil Changer, Inc.; and Sunbelt Controls, a leading, full-service building automation contractor.

5870 Stoneridge Drive, a 48,390-square-foot building, is occupied by tenants including CooperVision, Inc., one of the world’s leading manufacturers of soft contact lenses; and Nellcor Puritan Bennett, a Medtronic subsidiary.

Centrally located with easy access to BART and major highways, Diablo Technology Center is walking distance to numerous restaurants, services and amenities.

About Newmark Cornish & Carey
A dominant regional real estate force since 1935, Newmark Cornish & Carey has an expansive reach as part of Newmark Grubb Knight Frank, one of the world’s leading commercial real estate advisory firms. Regionally, Newmark Cornish & Carey has more than 280 agents in 13 strategically located offices throughout Northern California, creating a powerful platform from which to deliver superior services locally, while upholding its core values of integrity and knowledge. For further information, visit www.newmarkccarey.com.

About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.

With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.

NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.

About Ridge Capital Investors
Ridge Capital Investors, LLC (“RCI”) is a San Francisco based real estate investment and operating firm that partners with institutional and private capital providers to invest in value-added and opportunistic apartment and office assets. Collectively, the principals of RCI have developed and invested in over $1.6 billion of apartment assets across the US and $1.5 billion of office assets, primarily on the West Coast. Since its inception in 2011, the Company has invested in over $350 million of value added and opportunistic real estate.

West Coast Commercial Real Estate News