The property is located in the 2000 block of North California Boulevard in Walnut Creek's "Golden Triangle," the premiere office district in Contra Costa County. One of the buildings has four floors and the other has10 floors. Both sit on an elevated, landscaped plaza over three levels of parking.
"It's a well-located asset with a good rent roll," Insingia/ESG's Steven Hermann tells GlobeSt.com. Hermann and Bob Gilley, both senior managing directors, represented MetLife in the transaction. Hermann says that from hiring to closing, selling the property took just four months.
Office vacancy in Downtown Walnut Creek stands at about 10%. Mt. Diablo rose above that average when it lost a tech tenant left shortly before the property went to market.
Mt Diablo was part of a multi-billion dollar portfolio MetLife unloaded. Most of the dispositions were handled by Cushman & Wakefield.
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