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NorCal Pension Plan Picks Up Concord Office

Glendale-based American Realty Advisors (on behalf of UFCW-Northern California Joint Pension Plan) just scooped up 1001 Galaxy Way, a Class-A, 77k SF office building in Concord. With the purchase of the 30% leased building, the pension now owns both buildings of the two-building campus. CBRE's Jeff Birnbaum, who brokered the deal, says there are big improvements planned for the building, which will help marketing and leasing efforts.