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R&D Campus Fetches $78M in Pleasanton
JLL Capital Markets has closed the $78-million sale of Britannia Business Center, an R&D / office campus totaling 292,000 square feet in Pleasanton. The team of Erik Hanson, David Dokko and Nick Deaver represented the seller, which is managed by Virtua Partners, and procured the confidential buyer.
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. Originally built between 1997 and 1998, the property is currently 68.6% leased with nearly half of the tenancy being credit tenants.
“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.
- ◦Sale/Acquisition
