Walnut Creek Office Campus Welcome New Tenants

By Razvan Cimpean

Walnut Creek Executive Park in Walnut Creek, Calif.

More than 38 new tenants leased nearly 177,000 square feet at Walnut Creek Executive Park within the last year. The new leases bring the occupancy of the office campus in Walnut Creek, Calif., from 68 to 91 percent.

Located at 2775-2815 Mitchell Drive, the campus consists of 12 two- and three-story buildings. Walnut Creek Executive Park sits half a mile from Ygnacio Valley Road and less than four miles from Senator Daniel E. Boatwright Highway. The asset features more than 1,700 parking spaces and offers easy access to public transportation, dining and shopping options including Norma’s Place, Mary’s Pizza Shack and Encina Grande. The office campus stands within the Walnut Creek Shadelands Business Park, a 246-acre, 2.5 million-square-foot business park.

Diverse new tenants

Easterseals Bay Area, a provider of behavioral and health services, signed a 52,000-square-foot lease and will relocate from its current Pleasant Hill headquarters in early 2018. Other new tenants include law firms Hughes Gill Cochrane Tinetti and Bold, Polisner, Maddow, Nelson & Judson and logistics company C.H. Robinson Co.

“At 91 percent, Walnut Creek Executive Park is seeing its highest occupancy in 20 years,” Knute Bucklew, managing director at NKF, said in a prepared statement. “This project has had the strongest 12-month period of leasing in the past 30 years.”

NKF’s Bucklew, Danny Bartz and Tom Fehr represented the owners, a joint venture between The Koll Co. and Rialto Capital Management, on negotiations for all 38 leases. Earlier this month, NKF was also involved in the sale of One Concord Center, a nearly 360,000-square-foot office tower in Concord.

According to Yardi Matrix data, The Koll Co. and Rialto Capital Management acquired the property in 2014 from Greenlaw Partners for $48.6 million.

Image courtesy of Yardi Matrix