Virgin Mobile Takes 20,000 SF at Mt Diablo Plaza

WALNUT CREEK, CA-Cellular communications company Virgin Mobile USA LLC has signed a 20,281-sf lease for space at Mt Diablo Plaza, a two-building, 319,000-sf class A office complex in Walnut Creek that Loopnet says is currently 26% vacant.

KBS Realty Advisors paid $60 million or $190 per sf for the building in March on behalf of a separate account investor. A source at KBS declined to provide the name of the investor, but said it was the first acquisition in the fourth fund the company has established with this investor.

Virgin Mobil USA is a joint venture between Sir Richard Branson’s Virgin Group and Sprint PCS which operates the largest all-digital, all-PCS nationwide wireless network. The company is establishing its Western regional headquarters in the building. KBS says Virgin was attracted to Mt. Diablo Plaza for its alternative location to San Francisco, as well as its proximity to executive housing, major thoroughfares, freeways and the Bay Area Rapid Transit System.