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Innovatus Capital Claims San Rafael Office Asset
New York-based Innovatus Capital Partners, LLC acquired 4040 Civic Center Dr., a five-story Class A office building encompassing more than 135,000 square feet in San Rafael, CA from Ellis Partners and Artemis Real Estate Partners. The deal value was undisclosed.
Located along Highway 101 in Central Marin County near the Sonoma Marin Area Rail Transit (SMART) Civic Center station, the more than 90%-leased building is LEED Platinum certified and includes a café, high-quality interior finishes, flexible floorplates, and onsite parking. Tenants include Pasha Group, Vionic Group, Regus, and the GSA.
Innovatus’ Bradley Seiden says, “We are pleased to acquire 4040 Civic, an excellent asset in a highly-desirable area, and look forward to working closely with our tenants. The property expands our well-located portfolio of U.S. commercial office properties to eight properties currently valued at approximately $400 million.”
Cushman & Wakefield’s Steven Hermann and Adam Lasoff represented the seller. LPC West will provide property and construction management services.
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