CUPERTINO, CA—Within a Silicon Valley location, very likely the tightest market in the country, and in the Silicon Forest of suburban Portland, a portfolio sale recently generated investment and private equity fund attention to the tune of $77 million. Graymark Capital Inc., in partnership with a real estate private equity fund, recently acquired two creative office/R&D portfolios of eight single-tenant buildings with credit tenants, GlobeSt.com learns in this exclusive.
Most notably, 10300-10460 Bubb Rd. in Cupertino is a four-property 110,000-square-foot portfolio that is 100% leased to Apple Inc. Located approximately 3 miles from Apple's new corporate headquarters, the buildings are single story and improved by creative office buildouts.
AmberGlen Business Center located in Hillsboro, OR is a four-property 210,000-square-foot portfolio that is leased to Nike (50%), Columbia Sportswear (13%), IBM (12%) and a regional engineering firm. The Silicon Forest area is home to numerous technology and lifestyle companies, and is the fastest growing market in the Portland MSA. Located 4 miles from Nike's corporate headquarters and 12 miles from downtown Portland, the single-story buildings feature exposed ceilings, polished concrete floors and creative office buildouts.
“These property purchases represent a continuation of Graymark's strategy of investing in high-quality West Coast markets that appeal to technology and lifestyle tenants because of strong demographics and a highly educated workforce,” Brian Hecktman, Graymark Capital's founder and CEO, tells GlobeSt.com. “The Bubb Road asset is Graymark's 10th investment in Silicon Valley and the AmberGlen asset represents our first foray into the Pacific Northwest, which is a target market for us in 2017 and beyond.”
The projects are being purchased under Graymark's medium term net-lease program, which focuses on well-located infill office/R&D/industrial assets leased to creditworthy tenants under three- to seven-year lease terms. The company has acquired 1.5 million square feet of institutional quality property valued at $475 million since 2012 in the Bay Area, San Diego, Los Angeles, Hawaii and the Pacific Northwest.
“These investments were a perfect fit for Graymark's medium term net-lease program due to excellent infill locations in tight submarkets, strength of tenancy and cash flow, and below-market rents,” Jeff Hoppen, managing director and CFO, tells GlobeSt.com. “We are well capitalized with a strong equity partner and aggressively pursuing similar transactions between $25 and $250 million throughout the western US.”
Graymark is a real estate investment firm located in San Francisco that was founded by Hecktman, Hoppen and VP of acquisitions Rick Lafranchi.
CUPERTINO, CA—Within a Silicon Valley location, very likely the tightest market in the country, and in the Silicon Forest of suburban Portland, a portfolio sale recently generated investment and private equity fund attention to the tune of $77 million. Graymark Capital Inc., in partnership with a real estate private equity fund, recently acquired two creative office/R&D portfolios of eight single-tenant buildings with credit tenants, GlobeSt.com learns in this exclusive.
Most notably, 10300-10460 Bubb Rd. in Cupertino is a four-property 110,000-square-foot portfolio that is 100% leased to
AmberGlen Business Center located in Hillsboro, OR is a four-property 210,000-square-foot portfolio that is leased to Nike (50%),
“These property purchases represent a continuation of Graymark's strategy of investing in high-quality West Coast markets that appeal to technology and lifestyle tenants because of strong demographics and a highly educated workforce,” Brian Hecktman, Graymark Capital's founder and CEO, tells GlobeSt.com. “The Bubb Road asset is Graymark's 10th investment in Silicon Valley and the AmberGlen asset represents our first foray into the Pacific Northwest, which is a target market for us in 2017 and beyond.”
The projects are being purchased under Graymark's medium term net-lease program, which focuses on well-located infill office/R&D/industrial assets leased to creditworthy tenants under three- to seven-year lease terms. The company has acquired 1.5 million square feet of institutional quality property valued at $475 million since 2012 in the Bay Area, San Diego, Los Angeles, Hawaii and the Pacific Northwest.
“These investments were a perfect fit for Graymark's medium term net-lease program due to excellent infill locations in tight submarkets, strength of tenancy and cash flow, and below-market rents,” Jeff Hoppen, managing director and CFO, tells GlobeSt.com. “We are well capitalized with a strong equity partner and aggressively pursuing similar transactions between $25 and $250 million throughout the western US.”
Graymark is a real estate investment firm located in San Francisco that was founded by Hecktman, Hoppen and VP of acquisitions Rick Lafranchi.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
