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SUM OF TWO DEALS

WASHINGTON DC 04.27.2017

FEDERAL MARKETS & REAL PROPERTIES

A New President & GSA: What Does That Mean For You?

Norman Dong -- U.S. General Services Administration (GSA)
Tom Finan -- Trammell Crow Company
Bruce Childs -- USAA Real Estate
SUM OF TWO DEALS
SUM OF TWO DEALS
The investment activity doesn’t stop there. Bixby Land Co wrapped a $5M renovation of a three-building, 164k SF office campus at River Oaks Parkway and Zanker Road in San Jose. The company bought the site in two separate deals last year for $19.5M. With large blocks of modern space in short supply in Silicon Valley, president Bill Halford says the project meets the demand for contemporary work environments with “great outdoor spaces.” The River Oaks renovation included the company’s signature Bixby Retreat, a 30k SF outdoor living room. Among the lounge area’s drought-tolerant landscaping is an olive grove.(Martinis, anyone?) Colliers International’s Craig Fordyce and Jim Beeger are handling leasing.
SUM OF TWO DEALS
The River Oaks project is just part of the Irvine-based company’s Silicon Valley portfolio, comprising 16 properties totaling more than 1M SF. Last month, Bixby completed the renovation of a 127k SF, two-building office campus at 3111 Coronado Dr in Santa Clara (above). Just as the company was finishing construction on its $10M redesign, including a new two-story glass pavilion connecting the buildings, it signed an eight-year lease valued at $25M with automated network control company Infoblox.