The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
December 4, 2020
 Search RENTV
 Video Programs
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

Printer-friendly Version   Email an Associate
Century | Urban Spends $12 Mil on East Bay Office Building


Century | Urban, a real estate investment and advisory firm, acquired 2890 N. Main Street, a 42.7k sf office building located in Walnut Creek, for $12.3 mil ($288/sf). The three-story building is 94% leased with US Bank as its anchor tenant.

2890 N. Main benefits from a short walk to the popular Pleasant Hill BART Station and its proximity to a host of amenities including: Sprouts Market, Walgreens, 24 Hour Fitness and a significant retail amenity base. The property recently underwent a $1.5 mil capital renovation that included mechanical, lobby and restroom upgrades.

“The combination of stable cash flow from a diversified tenant base, prominent corner identity and highly-coveted transit-oriented location, makes the acquisition a highly attractive investment opportunity,” said Century | Urban Principal Bryant Sparkman.

NKF Senior Managing Directors Mike Zylstra, Forrest Gherlone and Seth McKinnon represented the seller, Graham Street Realty.

“2890 N. Main is well-positioned to take advantage of tenant in-migration. Asking rent discounts between N I-680 and similar Class A markets such as San Francisco and Oakland are at an all-time high of 48% and 23%, causing tenants in San Francisco and Oakland to seek more affordable transit-oriented locations along the N I-680 corridor,” said Zylstra.

Return to the Archive page




Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2020 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media