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Legacy Buys 88-Acre Parcel, Plans Development

SAN JOSE, CA-Legacy Partners says it will use the parcel for a 1.8-million-sf business park. Construction is slated to begin next summer, and the office park should be ready for occupancy by June 2002.

By Allison Landa | Updated on November 22, 2000

SAN JOSE, CA-Legacy Partners is set to add more space to this ultra-tight market, having purchased 88.6 acres on Yerba Buena Road from Orchard Properties. On it will rise a 1.8-million sf business park called Highlands Corporate Center that will be marketed to high tech tenants seeking up to 250,000 sf in flex space. Phase One will break ground in the summer, and is should be ready for occupancy by June 2002.

Legacy’s financial partners in the purchase were Goldman Sachs, CS First Boston and Walton Street Capital. Commercial Property Services represented Legacy in the sale, while CB Richard Ellis represented Orchard. Financial terms were not disclosed.

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