{"id":1004177128,"date":"2017-05-17T07:20:57","date_gmt":"2017-05-17T15:20:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004177128"},"modified":"2022-12-09T02:20:33","modified_gmt":"2022-12-09T10:20:33","slug":"bay-area-office-campus-changes-hands","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bay-area-office-campus-changes-hands\/","title":{"rendered":"Bay Area Office Campus Changes Hands"},"content":{"rendered":"<p>By Razvan Cimpean<\/p>\n<div id=\"attachment_1004177129\" style=\"width: 376px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Walnut-Creek-Center.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004177129\" data-attachment-id=\"1004177129\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/bay-area-office-campus-changes-hands\/walnut-creek-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Walnut-Creek-Center-e1495002603266.jpg\" data-orig-size=\"995,713\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.8&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;FC330&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1480610810&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;3.61&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Walnut Creek Center\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Walnut Creek Center&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Walnut-Creek-Center-e1495002603266.jpg?w=995\" class=\"wp-image-1004177129 \" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Walnut-Creek-Center-e1495002603266.jpg\" alt=\"Walnut Creek Center\" width=\"366\" height=\"262\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Walnut-Creek-Center-e1495002603266.jpg 995w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Walnut-Creek-Center-e1495002603266.jpg?resize=300,215 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Walnut-Creek-Center-e1495002603266.jpg?resize=768,550 768w\" sizes=\"auto, (max-width: 366px) 100vw, 366px\" \/><\/a><p id=\"caption-attachment-1004177129\" class=\"wp-caption-text\">Walnut Creek Center<\/p><\/div>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/pccp-refinances-chicago-retail-center\/\">PCCP LLC<\/a> and Align Real Estate formed a joint venture to acquire a 236,122-square-foot, Class A office facility in Walnut Creek, Calif., from Northwestern Mutual Life Insurance. The asset consists of two buildings, one seven-story and one five-story. According to <em>Yardi Matrix<\/em>, the property changed hands for a little over $66.5 million. Walnut Creek Center was 96 percent occupied at the time of the transaction.<\/p>\n<p>The asset features 1,500 square feet of retail space and more than 680 parking spaces. Amenities at Walnut Creek Center include a conference room, a fitness center, bike storage and electric vehicle charging stations. Located at 100 and 200 Pringle Ave. within San Francisco\u2019s East Bay submarket, the property is within walking distance of the Walnut Creek BART Station.<\/p>\n<p><em>\u201cThis was an ideal opportunity to acquire a well-leased office asset in a key Bay Area submarket,\u201d<\/em> Erik Flynn, PCCP managing director, said in prepared remarks. <em>\u201cOur joint venture plans to add more value by investing approximately $3 million in capital upgrades.\u201d <\/em><\/p>\n<p>Planned improvements at Walnut Creek Center include enhancing street frontage and offering outdoor amenities on the third floor deck.<\/p>\n<p><em>Image courtesy of Align Real Estate<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PCCP LLC and Align Real Estate formed a joint venture to acquire Walnut Creek Center, a two-building, 236,122-square-foot, Class A office facility. The new owners plan to invest approximately $3 million in capital upgrades.<\/p>\n","protected":false},"author":753,"featured_media":1004505885,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21742,21747,1609,15],"tags":[35594,33053],"class_list":["post-1004177128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-latest","category-office","category-san-francisco","category-west","tag-align-real-estate","tag-pccp-llc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Bay Area Office Campus Changes Hands - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/bay-area-office-campus-changes-hands\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bay Area Office Campus Changes Hands\" \/>\n<meta property=\"og:description\" content=\"PCCP LLC and Align Real Estate formed a joint venture to acquire Walnut Creek Center, a two-building, 236,122-square-foot, Class A office facility. The new owners plan to invest approximately $3 million in capital upgrades.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/bay-area-office-campus-changes-hands\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-05-17T15:20:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T10:20:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Walnut-Creek-Center.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1327\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Razvan Cimpean\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bay-area-office-campus-changes-hands\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bay-area-office-campus-changes-hands\\\/\"},\"author\":{\"name\":\"Razvan Cimpean\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/694c0c0a53e89aa8de1e53ff8201b3b6\"},\"headline\":\"Bay Area Office Campus Changes Hands\",\"datePublished\":\"2017-05-17T15:20:57+00:00\",\"dateModified\":\"2022-12-09T10:20:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bay-area-office-campus-changes-hands\\\/\"},\"wordCount\":204,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bay-area-office-campus-changes-hands\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/Walnut-Creek-Center.jpg\",\"keywords\":[\"Align Real Estate\",\"PCCP LLC\"],\"articleSection\":[\"Deals\",\"News\",\"Office\",\"San Francisco\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bay-area-office-campus-changes-hands\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bay-area-office-campus-changes-hands\\\/\",\"name\":\"Bay Area Office Campus Changes Hands - 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