Pleasanton, CA — Today, Ellis Partners LLC announced the purchase of the Britannia Business Center II located in the Hacienda Business Park in Pleasanton, California. The property includes two single-story flexible office buildings and a two-story office technology facility on approximately 20 acres. This acquisition brings Ellis Partners’ holdings in the Park to approximately 660,000 square feet. The buildings are currently about 20% leased and were purchased on an all-cash basis.
October 28, 2010
“We are excited about this addition to our portfolio and we plan to aggressively market our vacancy with attractive tenant improvement packages,” said Jason Morehouse, SVP of Acquisitions for Ellis Partners. “We have one of the newest projects in the park and are well positioned to commit to, and fund lease transactions.”
The 272,000 square-foot development is centrally located in the Hacienda Business Park district in Pleasanton, a premier master-planned business park that serves the Tri Valley and is close to BART, two major freeways and abundant affordable housing. The project is ideally situated to provide tenants with flexible use facilities that incorporate technology, research, development, and lab functions in addition to conventional office space.
“We are encouraged by the amount of tenant activity we’ve seen since we first became involved in this transaction,” says Morehouse. “We look forward to providing improved space to suit these, and other potential tenants going forward.”
The seller was represented in this transaction by Michael Leggett and his team at Holliday Fenoglio Fowler, with assistance from Paul Sheehan, Dave Bruzzone, and Dan Watson at Cornish & Carey Commercial Newmark Knight Frank.