95,550-Square-Foot Property Sold at North San Jose Campus
SAN FRANCISCO (May 16, 2016) - TMG Partners, one of the San Francisco Bay Area’s largest mixed-use property developers, today announced the sale to a corporate user of 250 West Tasman Drive, a 95,550-square-foot building at Champion Station.
Champion Station is located at a major light rail stop, steps from retail on North First Street, and approximately one half mile from Levi’s Stadium. TMG initially purchased the eight-building, 810,000-square-foot campus from Cisco Systems in 2013. Immediately thereafter, TMG embarked on a major renovation of the building exteriors, interiors and common area amenities, as well as establishing a master signage and branding program. TMG subsequently sold four buildings to an investor in 2014 and the remainder of the project is occupied by ForeScout Technologies and Silver Spring Networks.
“San Jose is seeing particularly strong interest from both local and global companies,” said David Cropper, TMG Partners Director of Development. “The mixed-use nature of the North San Jose market has become increasingly compelling to today’s technology tenants, and we’re pleased our renovations have further supported attracting substantial companies to the area where their employees can bike, ride the train, charge their electric cars, live across the street and walk down the street to restaurants or events at Levi’s Stadium.”
The buyer was represented by Kidder Mathews’ Skip Whitney, partner, EVP and head of China Services and Eric Bluestein, also partner, EVP and on the China Services team. The seller was represented by Colliers’ Craig Fordyce and Mike Rosendin and JLL’s Scott Mathisen.
About TMG Partners
TMG Partners, founded in 1984 and headquartered in San Francisco, is a full-service real estate development and management company. TMG has developed more than 25 million square feet of property throughout the San Francisco Bay Area, including Emeryville, Marin City, Novato, Palo Alto, San Bruno, San Jose and San Francisco. One of the most active developers in this area, the company has developed a variety of office, retail, residential and industrial properties, ranging from office campus and multi-story properties in urban, infill locations to mixed-use retail and single-story suburban buildings. For detailed information, visit: www.tmgpartners.com.