TMG Partners Acquires The Quad in Santa Clara from JP Morgan
San Francisco Bay Area-based TMG Partners closed on a deal for The Quad in Santa Clara. The seven-building, 410,106-square-foot office campus at Tasman Drive and Bunker Hill Lane consists of two-story buildings built in 1982, and recently renovated by JP Morgan, the seller.
TMG Partners’ Ben Kochalski says, “TMG Partners was attracted to this property because of its stable long-term cash flow, the Santa Clara location, our understanding of the need to provide office space for the many different size requirements of today’s tenants, as well as the existing suite of amenities.” He added TMG plans to add amenities and improvements in an effort to attract more businesses looking to headquarter in this location.
Anchor tenant Silicon Valley Bank occupies 50% of the project on a long-term lease. Other tenants include GoDaddy, Perspecta, and a recently-executed 23,000-square-foot lease with Knowles, bringing occupancy to 73%.
Eastdil Secured represented the seller, while TMG was self-represented.
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