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TIC Sponsor Completes Britannia Acquisition

PLEASANTON, CA-Two weeks after closing on Britannia Business Center II and III, the Santa Ana-based Triple Net Properties acquires Britannia Business Center I. The seller of all three phases is UK-based Slough Estates.

By Brian K. Miller | Updated on October 17, 2005

(To read more on the TIC market, click here.)

PLEASANTON, CA-On behalf of a group of tenant-in-common investors, Triple Net Properties has completed its acquisition of Britannia Business Center, a 765,756-sf, 10-building office development here that is well leased. The Santa Ana-based TIC sponsor this week closed on Britannia Business Center I. Earlier this month, it closed on Britannnia Business Center I and II.

Britannia Business Center I is a 296,537-sf property consisting of four office buildings that are currently 100% leased by four tenants including Robert Half International, ADP, and Individual Software Inc. Britannia Business Center II and III are each three-building developments with a combined 467,219 sf of leasable area of and an average occupancy of 94%.

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