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Ellis Partners Recaps Hacienda Biz Park Assets

PLEASANTON, CA-Cargill Inc. is out and Principal Real Estate Investors is in as the money partner in a deal that values the 380,000-sf portfolio at approximately $60 million.

By Brian K. Miller | Updated on July 18, 2007

(Read more on the industrial market.)

PLEASANTON, CA-Ellis Partners recently recapitalized its 380,000-sf, 10-building portfolio within Hacienda Business Park. Principal Real Estate Investors bought out Ellis’ previous partner in the assets, Cargill Inc., in a deal that values the portfolio at approximately $60 million, according to industry sources familiar with the transaction.

Hacienda Business Park is located near the Pleasanton BART station and Interstates 580 and 680. Constructed in the mid 1980s, Ellis’ portfolio consists of four separate projects in 10 buildings within the park. The portfolio includes four single-story office/flex buildings, three two-story, multi-tenant office buildings and three single-story service and retail buildings.

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