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2/02/22
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Britannia Business Center, a 292k sf office/R&D campus in the Bay Area community of Pleasanton, traded hands for $78 mil, or $267/sf.
Britannia Business Center is positioned on 19.3 acres at 4125, 4155, 4255 and 4385 Hopyard Rd along the Tri-Valley I-680 Corridor, a growing East Bay submarket. The property is directly off of I-680 and is within walking distance of the Pleasanton BART station providing access to the entire Bay Area. In addition, Britannia Business Center benefits from the nearby life sciences corridor as well as being within driving distance of world-class universities and research institutions, including UC Berkeley, UCSF, Stanford University, Santa Clara University and San Jose State University.
Originally built between 1997 and 1998, Britannia Business Center consists of four buildings that feature attractive infrastructure for R&D, flex and office use, including 13’ to 20’ clear heights, eight roll-up doors, one dock high door and 1,600 to 3,000 amps available. The property is currently 68.6% leased with nearly half of the tenancy being credit tenants.
Erik Hanson, David Dokko and Nick Deaver with JLL Capital Markets represented the seller, a Virtua Partners-managed investment entity. The buyer was not identified.
“Britannia Business Center has a superior location in the expanding Tri-Valley submarket, which has seen robust demand from a variety of R&D, flex and office users due to its easy access and close proximity to the core Bay Area submarkets, robust labor pool and considerable rental rate discount to neighboring markets,” Hanson said.
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