Cushman & Wakefield Advises Sleepy Hollow Investment's Sell-Off Of Bay Area Office Portfolio
Sleepy Hollow Investment Co just sold off its Bay Area office portfolio for $130M to five separate buyers. The portfolio of 14 multi-tenant office buildings totals 661,319 SF spread across 10 properties and 32 acres. Cushman & Wakefield acted as exclusive adviser of the sell-off. The portfolio was sold off in components to Eagle Canyon Capital, Square I, STG Group, James Lindsey and Long Market Property Partners.
“I'm very proud of a terrific 25-year run with this portfolio for my investors and my team. We achieved incredible returns despite several difficult market cycles, and we thrived in multiple locations,” Sleepy Hollow Investment president and CEO Adam Henderson said.
The portfolio is 92% occupied with 132 tenants. Properties are in Pleasant Hill, Walnut Creek, Orinda, San Ramon, Dublin, Santa Rosa and Santa Clara. The Class-A office portfolio included The Terraces in Pleasant Hill (above) and Riviera Plaza in Walnut Creek.
Cushman & Wakefield’s capital markets executive managing director Eric Fox, executive director Michael Speers and executive managing director Steve Hermann repped the seller. Cushman & Wakefield’s Whiff Collins provided local market advisory.