SAN JOSE, CA-A joint venture between Prudential Real Estate Investors and McCandless Management Corp. has sold Montague Oaks Business Park, an eight-property, 262,357-square-foot office and R&D business park in San Jose, California. Eagle Ridge Partners and CarVal Investors purchased Montague Oaks for $39.5 million.
Holliday Fenoglio Fowler investment sales team marketed the property on behalf of the seller. The HFF team representing the seller included director Dave Karol and senior managing directors Michael Leggett and Gerry Rohm.
Montague Oaks Business Park is located at 611-695 River Oaks Pkwy. in Silicon Valley’s Innovation Triangle, close to Interstate 880, US Highway 101 and the San Jose International Airport. The property is 87% leased to 12 tenants including Verizon, MicroProbe, ePowersoft and Baxano.
Founded in 1964, McCandless Management Corp. has grown into a major development and commercial real estate management firm, according to a prepared statement. “Founded by Charles S. McCandless and led by Birk S. McCandless, the company grew from developer/builder in Palo Alto, CA, into one of the largest and most respected developers in Silicon Valley and the San Francisco Bay Area.” CarVal Investors is a global leader in managing opportunistic real estate investments both directly in commercial and residential real estate.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
