319,362-SF Office Building Trades Hands for $62.25M

WALNUT CREEK, CA-Koll Bren Schreiber has acquired Mt. Diablo Plaza from MetLife for $62.25 million. Built in 1985, the 319,362-sf, two-building class A office complex in Walnut Creek was 85% leased at the time of sale.

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.