Berkeley universities

Jones Lang LaSalle Incorporated: $78 million paid for a four-building R&D/office campus in the Bay Area

SAN FRANCISCO, January 31, 2022 –JLL Capital Markets today announced the closing of the $78 million sale of the Britannia Business Center, a state-of-the-art R&D/office campus totaling 292,000 square feet in the Bay Area community of Pleasanton, California.

JLL represented the seller, which is managed by Virtua Partners, and procured the confidential buyer.

The Britannia Business Center is located on 19.3 acres at 4125, 4155, 4255, and 4385 Hopyard Rd. along the I-680 Tri-Valley Corridor, a growing submarket of East Bay. The property is directly off Interstate 680 and is within walking distance of the Pleasanton BART station providing access to the entire Bay Area. Additionally, the Britannia Business Center benefits from the nearby Life Sciences Corridor and is within driving distance of world-class universities and research institutes, including UC Berkeley, UCSF, University from Stanford, Santa Clara University and San Jose State University.

Originally constructed between 1997 and 1998, the Britannia Business Center consists of four buildings with attractive infrastructure for R&D, flexibility and office use, including clear heights of 13′ to 20 ‘, eight rolling doors, one platform-height door and 1,600 to 3,000 amps available. The property is currently 68.6% let, with almost half of tenants being credit tenants.

The JLL Capital Markets team representing the seller was led by Principals Erik Hanson and David Dokko and Principal Nick Deaver.

“Britannia Business Center enjoys a prime location in the growing Tri-Valley submarket, which has seen strong demand from a variety of R&D, flex and office users due its easy access and proximity to major submarkets in the Bay Area, its strong labor pool and considerable discount on rental rates compared to neighboring markets,” said Hanson.

JLL Capital Markets is a global, full-service provider of capital solutions for property investors and occupiers. The firm’s in-depth knowledge of the local market and global investors provides the best solutions for clients – whether it is sales and investment advice, debt advice, equity advice or recapitalisation. The firm has more than 3,000 capital markets specialists worldwide with offices in nearly 50 countries.

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Jones Lang LaSalle Americas, Inc. (“JLL”) is a Real Estate Broker licensed by the California Department of Real Estate, license number 01223413.