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Creekside Oaks
Value-Add Walnut Creek Office

Value-Add
• Current Occupancy of 84% provides new owner upside through lease up of the in-place vacancy
• New ownership will have the opportunity to increase below market rents to market as tenants roll

Strong Credit Anchor Tenant
• Kaiser Foundation Hospitals occupies 32% of the Property and recently renewed their lease
• Kaiser’s 200-bed primary Walnut Creek campus is located just one block away

Abundant Walkable Amenities
• Ideally located within walking distance to a wide array of restaurant and retail amenities including Broadway Plaza (1.1M SF regional mall)
•The Property received a walkability score of 85/100 according to WalkScore.com

Walnut Creek Transformation
• Already known as a highly desirable and affluent community, Walnut Creek is projected to continue to expand with over 2,000 multifamily units at various stages of development within the core

THE OFFERING
Creekside Oaks is a multi-tenanted office park consisting of four mid-rise buildings totaling approximately 91,754 square feet and situated on 4.37 acres of land. The Property is subject to a ground lease which expires in 2022, with 3 remaining 10 year options taking the term to 2052.

The Property is located in downtown Walnut Creek across the street from the Macerich-owned Broadway Plaza regional shopping center. Macerich recently completed its four year $250 million redevelopment adding 300,000 square feet of additional retail space and parking to the 25 acre shopping center, raising the total square footage to 1.1 million.

The Property is currently 84% leased to a diverse tenant roster including Standard & Poor’s “A+ Rated” Kaiser Foundation Hospitals (“Kaiser”) which occupies 32% of the Property. The Property has consistently maintained strong occupancies throughout even difficult economic environments, thus demonstrating its lasting appeal to Walnut Creek’s tenant base.

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Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

Creekside Oaks

1440, 1450, 1460 and 1470 Maria Lane, Walnut Creek, CA 94596

Sold

Asset Snapshot

  • Asset Type
  • Real Estate
  •  
  • Office Type
  • Suburban Office
  • Property Size
  • 91,754 Sq Ft
  • Land Area
  • 4.37 Acres
  • Year Built
  • 1980
  • Number of Floors
  • 3
  • Number of Buildings
  • 4
  • Parking Count
  • 315
  • Occupancy
  • 84.00%
  • Occupancy as of
  • Aug 01, 2018
  • Platform Fee

    Platform fee for this transaction is 5.00% or a minimum of $25,000.

  • Auctioneer

    1. Emilio Lemeni

      c/o Fisher Auction Company Inc.

      License: #00961384