Address: Two building campus on 408 Plumeria and 2730 Junction Ave.
Year Built: 1982
Building SF: 146,951
Acquisition Date: December 2015
Projected Hold Period: 3 year
Two multi-tenant office buildings in a key Silicon Valley location with potential for full repositioning and renovation.
- Upon acquisition commenced significant reposition of 408 Plumeria totaling more than $3 million including recladding the building exterior, replacement of windows as well as increasing the window line, new building lobby, new outdoor seating area, restroom upgrades, landscaping improvements, demo of existing build out and market ready improvements.
- The renovation resulted in a full building 7-year lease with Foxconn
- Closed on sale of 408 Plumeria in March 2018 at $26.75M ($458/sf)
- Closed on sale of 2730 Junction in November 2018 at $26.25M ($290/sf)