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7/03/14
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The STG Group paid $13.4 mil for a portfolio of five office buildings located in Santa Rosa. The buildings, totaling 169k sf ($79/sf), were sold by longtime owner, Sausalito-based Berg Holdings Corp, led by Skip Berg. The properties included in the purchase are located at: 130 and 140 Stony Point Rd (38.5k sf); 141 and 149 Stony Circle (83.9k sf); and 100 B Street (46.8k sf).
The buildings were about half occupied at the time of sale, with 80k sf available for lease. STG plans upgrades to attract tenants to buildings. The company has solicited designs for revamping the common areas and exteriors of the buildings. The most prominent of the five Santa Rosa office buildings is 100 B Street, in downtown Santa Rosa.
Shawn Johnson, Joel Jaman and Danny Jones of Keegan & Coppin/ONCOR International brokered the deal for Berg Holdings, and Danny Jones represented STG.
The STG Group, which is based in Petaluma, currently has millions of square feet of holdings in Western states. The 29-year old firm is led by Principal John Ziegler. With this new addition, STG’s overall portfolio has 4.7 msfin California, Oregon, Washington and Alaska. In January of this year the company completed the $62 mil acquisition of City Square, the landmark mixed-use asset located in downtown Oakland's City Center.
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