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5/02/17
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PCCP LLC and Align Real Estate have purchased Walnut Creek Center, a 236.1k sf, Class A office project situated adjacent to the Walnut Creek BART station in Walnut Creek. The asset, originally constructed in 1983, was sold by Northwestern Mutual in a transaction valued near $90 mil, or $380/sf.
Walnut Creek Center is located at at 100 and 200 Pringle Ave, north of Ygnacio Valley Rd and just west of California Blvd. It is adjacent to I-680 and the proposed master-planned Walnut Creek BART Transit Village set to break ground later this year.
Walnut Creek Center was 96% leased at the time of slae. Tenants include Union Bank, engineering firm HDR Inc, Ameriprise Financial, Alaska National Insurance Company, Scottrade and Northwestern Mutual.
Steven Golubchik, Grant Lammersen, Tim Walling and Nicholas Alimam with NGKF Capital Markets represented the seller in the deal.
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