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6/19/15
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Equus Capital Partners, based out of Philadelphia, recently closed on the purchase of an 80.9k sf office building in Santa Clara. The property, located at 3003 Bunker Hill Lane, north of Hwy 101 and just west of Great America Pkwy, was sold by a joint venture of TMG Partners and Alcion Ventures LP.
“Our strategy was to entirely renovate an older multi-tenant office building in order to attract a single-user looking to locate in the booming Santa Clara market,” said David Cropper, managing director of TMG Partners.
TMG Partners acquired the building in December of 2012 and embarked on a major capital renovation plan that involved demolishing and re-building the interiors with upgraded mechanical and electrical systems, new restrooms and entry lobbies. In addition, TMG completed extensive landscape improvements, including an outdoor patio and gathering area, parking lot expansion, as well as exterior window line glazing replacement.
In 2014, TMG leased 90 percent of the project to Jasper Technologies Inc, a mover in the “Internet of Things” space with its global serving software platform. The firm will be expanding into the balance of the building in 2016, upon the vacating of the space by another tenant.
TMG and Alcion were represented in the transaction by the Eastdil Secured team out of the San Jose office.
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