Seagate Properties

A Real Property Investment & Operating Company

Sold 2005

Berkeley Central

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This purchase of four contiguous office buildings located in the heart of downtown Berkeley, California was sourced as a single transaction by Seagate.

Seagate was attracted to the opportunities presented by the below-market income stream combined with an attractive intrinsic price.

The close proximity to BART and the University of California also weighed favorably in our decision to pursue this property. Seagate served redevelopment approvals of this 25,000 square foot site that resulted in construction of 152 Class A apartments.

2950 Zanker

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This R&D building, located on 4.3 acres of land in the heart of the Silicon Valley, was acquired through a 1031 tax deferred exchange. The facility was substantially renovated and improved at the tenant’s expense as a web-hosting facility.

A leader in the web-hosting industry, this facility represents the “backbone” of the tenant’s business. Seagate impemented a strategy of making a pre-emptive bid, below replacement cost, on this well located property before it was widely marketed.

Parr Reno Complex

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This six-building project located in the North Valley submarket of Reno, Nevada consists of a warehouse and distribution portfolio. Each building was on a separate parcel, allowing Seagate to sell two smaller vacant buildings to local owner-users, lease the vacancy in the larger buildings and eventually sell them to investors. This careful strategy and timely acquisition resulted in returns that greatly exceeded the business plan’s projected returns.