Newmark Knight Frank Represented the $37,250,000 Sale
WASHINGTON, DC—June 14, 2019—Madison Marquette is pleased to announce the purchase of a 96,535-square foot, two-story, state-of-the-art R&D building in San Ramon, CA, in partnership with SEDCO Capital, a leading Saudi Asset Manager.
The property is 100% leased to a very strong undisclosed credit tenant pursuant to a long-term lease agreement. The property was recently enhanced by extensive tenant improvements, including renovations to landscaping, interiors and exteriors of the building.
“The property sits in the heart of the Tri-Valley market, which is rapidly evolving into a hub of technology and new industries that will continue to attract highly skilled workers to the San Ramon area,” said Chad Eisenbud, Managing Director/Investments for Madison Marquette.
” We are delighted to have completed this acquisition in partnership with SEDCO Capital, one of our trusted, long-term partners,” said Omar Doughan, Managing Director/Investments for Madison Marquette. “This is a strategically located asset with a very strong tenancy in a rapidly evolving market.”
According to Sherif Selim, Head of International & Regional Real Estate for SEDCO Capital, the acquisition was made because, “we focus on the opportunity to buy well located quality properties in growing locations for our clients. This, combined with the strong tenancy, ensures we offer our investors enhanced risk adjusted returns.”
“The San Ramon property fits well with our overarching investment thesis to buy well-located best-in-class office/flex buildings with ease of access to Interstate 680, executive and work force housing, and within walking distance of strong retail amenities. We are glad to complete an acquisition of this quality R&D building in the Tri-Valley market, where in most of the submarkets the vacancy rate for flex product is lower than the vacancy rate for Class A office product. This confirms the strength of this market and attraction to occupiers, which will ultimately benefit our investors.
The building is located one mile from the City Center Bishop Ranch, a new public square with 300,000 square feet of upscale retail, hotel, dining options and entertainment experiences
ABOUT MADISON MARQUETTE
Madison Marquette is a leading private real estate investment manager, developer, operator and service provider headquartered in Washington, D.C. Founded in 1992, the company’s reputation is built on the successful development, repositioning and redevelopment of landmark mixed-use assets in major and emerging high-growth markets throughout the United States. Madison Marquette partners with global, institutional and private investors to achieve industry-leading investment performance across asset classes -- including mixed-use, retail, office, medical, industrial, senior living and multi-family. As a full-service real estate provider, the company delivers integrated leasing and management services to a diverse portfolio of 330 assets in 24 states and manages an investment portfolio valued at over $6 billion. Madison Marquette has over 600 professionals providing nationwide service from 13 regional markets and is a member of the Capital Guidance group of companies.
About SEDCO Capital
SEDCO Capital is a leading global asset manager, offering investment solutions in a wide scope of geographies and diverse range of asset classes. Having established a strong track record of advisory services and investment management, SEDCO Capital currently manages assets in a diversified spectrum of investments in real estate, equities and other businesses with a total AUM of more than 5 Billion Dollars. SEDCO Capital employs highly-efficient investment professionals throughout the world. The company follows the highest standards of corporate governance rules and practices including the use of advanced information technology systems. SEDCO Capital is also the first Saudi asset manager and the first fully sharia compliant asset manager to be a signatory of the United Nations Principles of Responsible Investing (UNPRI). Through its successful track record, SEDCO Capital is committed to offering innovative Islamic-compliant investment products and today has the largest sharia compliant investment fund platform in Luxembourg through its SEDCO Capital Global Funds platform. Find out more at www.sedcocapital.com