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Seagate expedited the purchase this three-story suburban office building located on 12.3 acres of land. The property was acquired at an above-market capitalization rate with below-market assumable financing due to a parnership dissolution. The property was fully leased to a credit rated tenant for use as their central information systems (computer) facility. Seagate subsequently sold the property at a substantial profit and reinvested the proceeds.
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Project Details:
Location
San Rafael, CA
Size
45,855 sq. ft.
Type
Office
Seagate Contributions
Acquisition
Disposition
Leasing
Opportunistic Investment
Disposition
Leasing
Opportunistic Investment
Address
120 N. Redwood Drive