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California Capital & Investment Group Spends $38.5 Mil on Bay Area Office Building

7/21/22

California Capital & Investment Group has acquired The Terraces in Pleasant Hill, a six-story, 134.8k sf office property in Pleasant Hill, for $38.5 mil ($286/sf). The property was sold by Eagle Canyon Capital.

Located at 2300 Contra Costa Blvd, The Terraces features 15 balconies. The Terraces was built in 1987 and was recently updated with modern interiors. The building is currently 87% leased to several companies across technology, financial and professional services.

Scott Prosser, Jack DePuy, Joe Moriarty, Mike Taquino, Kyle Kovac, Giancarlo Sangiacomo and Alec Haley of CBREs Northern California Capital Markets team represented Eagle Canyon Capital, a real estate company based in the East Bay. Adam Ebner and Kirk Beebe of CBREs East Bay office served as leasing advisors.

The I-680 Corridor office market remains an attractive investment for stable, value-add opportunities that are closer to where workers reside. The Terraces has great identity from the I-680 freeway and benefits from being walking distance from shopping, dining and entertainment in downtown Pleasant Hill and Walnut Creek, noted Prosser.




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