Sep
04
Meridian Nabs Bay Area 175 KSF Office
ByThe firm plans to reposition the property and bring upgrades to the building systems, roof and common areas. Transwestern will be handling leasing efforts.
Meridian acquired Sutter Square, a 174,689-square-foot office building in Concord, Calif. This marks the company’s second value-add office investment in the last 12 months in the San Francisco Bay Area. Cranbrook Group of Modesto, Calif., sold the property for $26.2 million. Transwestern was selected to handle the leasing.
Located at 1800 Sutter St., the nine-story building was 78 percent leased at the time of the transaction. The property is close to BART and new multifamily and retail developments part of downtown Concord’s revitalization. The asset has easy access to Interstate 680 and state routes 242 and 4 and is a five-minute drive to John Muir Health, Concord Medical Center…
