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Great America Plaza Comes to Market

SAN FRANCISCO-Locally based New Urban Properties brings the 223,799-sf low-rise office complex in Santa Clara to the market after a six-year hold.

By Brian K. Miller | Updated on September 21, 2006

SAN FRANCISCO-Locally based New Urban Properties is unloading Great America Plaza after a six-year hold. The low-rise office campus in Santa Clara has 223,799 sf in three buildings. The complex is 75% leased and expected to fetch more than $40 million, local sources tell GlobeSt.com.

The seller is officially Great American Associates LLC, an entity controlled by New Urban Properties, formerly Sagamore Equities. Great American Associates acquired the property from Whitehall in 2000 for $48 million, according to local sources. New Urban principal Tom Owens could not be reached for comment.

Constructed in phases between 1982 and 1984, Great America Plaza sits on 9.5 acres at 5200 Great America Pkwy., opposite the Santa Clara Convention Center, Tech Mart and the Hilton Hotel. Tenants include Lucent Technologies, Ricoh, Danka and TeleCIS. The vacancy is mostly space given back by Riverstone networks, which leased all of the larger building before filing for bankruptcy and ultimately being acquired Lucent. Lucent now leases half the space that Riverstone once did.

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