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Invesco Sells Walnut Creek Office Campus

| Commercial Real Estate News, Deals, Office| Views: 120


Growers Square, a three-building office project in Walnut Creek, Calif., is under new ownership. Investment management company Invesco, represented by NKF Capital Markets, sold the property to Rockwood.

1646 North California Blvd, Walnut Creek (Yardi Matrix)

“Walnut Creek has experienced a renaissance that has brought high-end restaurants, shopping, and nightlife to the downtown core – making it one of the Bay Area’s true 24-hour cities. The property’s location at the heart of this revival was an added benefit to the buyer,” said Steven Golubchik, one of NKF’s Vice Chairmen.

The Class B office complex consists of a 75,000-square-foot, six-story building at 1646 North California Blvd., as well as two three- and six-story buildings encompassing 100,574 square feet of space at 1656 & 1676 North California Blvd.

According to Yardi Matrix data, the property located in Contra Costa County houses 28 tenants active in a variety of fields, such as finance, healthcare, law, asset management, IT, and consultancy. Some of the high-profile companies operating on the premises are River City Bank, Pacific Life Insurance, BKF Engineers, John Muir Health, Westamerica Bank, and TelePacific Communications.

Originally completed in 1986, Growers Square was cosmetically renovated in 2016. The complex includes 2,000 square feet of retail and a four-level parking structure that features a 2.7-per-1,000- square-foot parking ratio. The property also offers immediate access to both the Bay Area Rapid Transit system and the area’s dense retail core.

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