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December 15, 2018
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Stockbridge Capital Group Refinances 119k sf Biz Campus in San Jose


Stockbridge Capital Group has secured $11.75 mil in refi money for Junction Business Park, a two-building, 119.2k sf flex/industrial portfolio in San Jose. The property is located in Silicon Valley’s “Golden Triangle,” at the intersection of Junction Ave and Hartog Dr, just off Interstate 880.

Located at 1911-1943 Hartog Dr and 1914-1968 Junction Ave in North San Jose, Junction Business Park offers light indsdutrial and R&D space across a 6.34 acre site. The property is currently 100%t leased to a diverse roster of tenants.

The property offers convenient access to I-880 and Hwy 101, which connects to Highways 237 and 85. Located just two miles from the San Jose Mineta Airport and five miles from the Santa Clara Caltrain station, the property provides multiple commute options as well as proximity to a large number of nearby restaurants, retail and hotels.

Megan Woodring, Brad Zampa, Michael Walker and Taylor Shepard of CBRE’s Capital Markets’ Debt and Structured Finance team arranged the financing. The lender is an East Coast-based life company with whom CBRE has a longstanding relationship.

“Stockbridge was able to create a tremendous amount of value since their acquisition of this portfolio in 2014, increasing both rents and occupancy,” said Woodring, Vice President at CBRE Debt & Structured Finance. “Their successful operating history contributed to the fact that we had multiple competitive non-recourse balance sheet quotes, all from groups vying to establish a relationship with premier sponsorship. Ultimately we were pleased to introduce Stockbridge to a new capital source who offered an extremely favorable execution.”

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