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Los Angeles Construction & Dev

PERSISTENCE PAYS OFF

With vacancy rates for Class-A HQs near all-time lows in Silicon Valley, CapRock Partners COO Patrick Daniels says the company knew it ?would be worth the hard work and lengthy process? to obtain title to this newly built, 238k SF HQ and industrial facility. CapRock acquired the property (39889 Eureka Dr in Newark) by buying the non-performing note, which was in bankruptcy, in 2011 and then foreclosing earlier this year. The previous owner recently vacated. "The timing has definitely worked in our favor,? Patrick says. The company plans to lease or sell the building to a single tenant, hiring CBRE's Chip Sutherland and Greg DeLong to market the project.

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