Mount Diablo Bank and Chicago Title are the only other tenants in the building, which was built two years ago. About 8,000 sf is currently available. Trumark is moving from approximately 6,000 sf.
The real estate company purchased the building from KOT, a limited partnership based in the East Bay. Trumark did not have information about the seller and KOT officials were unavailable for comment Monday. According to a company source, there were no brokers involved in the transaction.
Trumark Companies moved its 16 employees into the space last week. Trumark decided to buy the building to accommodate future growth. In the past year, the company has hired nine employees and expanded its portfolio.
Gregg Nelson, a principal with the firm founded in 1994, says Trumark Companies has outgrown its current space, which it also owns. Trumark has leased the space to a new tenant that the company has yet to name.
"I think owning their own space is a good investment," says a company source. "Any time you can own rather than lease, it's a good idea. This way, they can continue to grow into their space as they need it."
Trumark Companies is currently developing more than $400 million worth of residential and commercial real estate throughout the Bay Area. Trumark Commercial is also developing more than 1 million sf of research and development office and flex space in Fremont's Warm Springs Corporate Center, the Copper Hill Business Park in Livermore and Stevenson Point Tech Park in Newark.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
