{"id":1004104529,"date":"2014-09-29T05:48:05","date_gmt":"2014-09-29T13:48:05","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004104529"},"modified":"2022-12-02T08:36:43","modified_gmt":"2022-12-02T16:36:43","slug":"shorenstein-grabs-4-building-tech-campus-in-north-san-jose-for-100m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/shorenstein-grabs-4-building-tech-campus-in-north-san-jose-for-100m\/","title":{"rendered":"Shorenstein Grabs 4-Building Tech Campus in North San Jose for $100M"},"content":{"rendered":"<p><i>By Keith Loria, Contributing Editor<\/i><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/09\/Shorenstein.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004104532\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/shorenstein-grabs-4-building-tech-campus-in-north-san-jose-for-100m\/shorenstein-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/09\/Shorenstein.jpg\" data-orig-size=\"640,426\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;22&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;NIKON D4&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1404175448&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;19&quot;,&quot;iso&quot;:&quot;200&quot;,&quot;shutter_speed&quot;:&quot;25&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Shorenstein\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Shorenstein, which owns this building in North San Jose, Calif., instituted a portfolio-wide energy management program.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/09\/Shorenstein.jpg?w=640\" class=\"alignleft size-medium wp-image-1004104532\" alt=\"Shorenstein\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/09\/Shorenstein.jpg\" width=\"300\" height=\"199\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/09\/Shorenstein.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/09\/Shorenstein.jpg?resize=300,200 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>Shorenstein Properties L.L.C., has acquired four buildings in Champion Station, an eight-building, low-rise office and R&amp;D campus in North San Jose, from TMG Partners for a reported $100 million.<\/p>\n<p>JLL represented the seller in the transaction.<\/p>\n<p>\u201cThere was broad investor interest in this opportunity and tenant activity in the immediate area continues to escalate,\u201d Michel Seifer, JLL\u2019s managing director, capital markets, told <i>Commercial Property Executive<\/i>. \u201cThis really demonstrates the continued improvement, maturation and importance of the north San Jose submarket and how this market has been transformed by the entertainment (Levi Stadium), retail and housing development that has occurred in the neighborhood.\u201d<\/p>\n<p>Located at 110-180 West Tasman Drive, the four buildings total 426,000 square feet and are currently fully leased to Cisco on a short-term basis.<\/p>\n<p>Champion Station is approximately 1.5 miles from Levi\u2019s\u00a0Stadium, the recently opened home of the San Francisco 49ers, as well as extensive retail and restaurant amenities.\u00a0\u00a0It is also surrounded by several transit alternatives including public transit (light rail, bus, Amtrak, Caltrain, free shuttles) and is within easy access of Highways 101, 237 and 880 and other major thorough fares linking the property to San Francisco, the Peninsula, East Bay and downtown San Jose.<\/p>\n<p>This is Shorenstein\u2019s first-ever acquisition in the San Jose market.<\/p>\n<p>\u201cThis is an opportunity to reposition a well-located campus in a market with strong leasing demand and a dearth of available blocks of office space to accommodate large users,\u201d Douglas Shorenstein, Shorenstein\u2019s CEO &amp; chairman, said in a company statement.<\/p>\n<p>TMG Partners purchased all eight buildings in Champion Station from Cisco last year, and added new conference rooms, employee sport courts and updated the finishes, among other renovations.<\/p>\n<p>The North San Jose area has seen major ongoing capital investment of late. Two major mixed-use developments, totaling more than $7 billion, have been proposed nearby with one expected to begin construction in 2016.<\/p>\n<p>The purchase is Shorenstein\u2019s first investment completed for the Shorenstein Realty Investors Eleven, a fund that was formed earlier this year with $1.2 billion in committed capital.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shorenstein Properties has acquired four buildings in Champion Station from TMG Partners for a reported $100 million.<\/p>\n","protected":false},"author":451,"featured_media":1004104532,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21747,15],"tags":[],"class_list":["post-1004104529","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-office","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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