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Hall Equities Acquires Walnut Creek Offices at 47% Discount on 2018 Price
Walnut Creek-based Hall Equities Group has acquired Ygnacio Center, a 526,155-square-foot, three-building office property in Walnut Creek, for roughly $111 million, reported the San Francisco Business Times. At $210 a square foot, the price is approximately 47% below the $210 million that Hines and Oaktree Capital Management paid in 2018.
Ygnacio Center has been on the market since last November. Cushman and Wakefield had the listing.
This will be Hall Equities’ first major institutional asset of this scale, reported the Business Times. The Class A property, at 2033 N Main St., sits across the street from the Walnut Creek BART station.
However, it’s not the first Walnut Creek office property to trade in recent months. Peninsula Land & Capital bought 3003 Oak Rd., a 210,000-square-foot class A office property, for $22.5 million earlier this month. And Clarion Partners sold the Plaza at Walnut Creek last year for $162 million.
- ◦Sale/Acquisition
