Cisco Campus Flies Off the Shelf
We just learned this morning that Shorenstein Properties closed on the first phase of Champion Station, a four-building, low-rise office and R&D campus near Levi's Stadium at 110-180 West Tasman in North San Jose. Terms of the purchase, which was concluded with TMG Partners, were not disclosed. The plan is to reposition the 426k SF campus, currently fully leased on a short-term basis to Cisco, in a market that's seeing strong leasing demand and "a dearth of available blocks of office space to accommodate large users,” Shorenstein CEO Douglas Shorenstein says. This is the first investment to be completed for Shorenstein Realty Investors Eleven, a closed-end investment fund formed earlier this year.