Fulp tells GlobeSt.com that although he isn’t providing pricing guidance, he says that the price per square foot “will be attractive.” As for reasons for selling, Fulp says that the property is completely stabilized and the market has come back around. Brandywine acquired the property in December of 2005 through its acquisition of Prentiss Properties.

In terms of what investors might be interested, Fulp says that it will be core and value-add buyers. “Core buyers will be attracted to the cash flow, credit and story of the tenancy. Wells Fargo has been in the project since it was built in 1984 and has expanded 10 different times without ever giving back space. They also have a very diverse and relevant set of divisions operating out of this project,” he says. “Value-add buyers will be able to safely assume lift from a recovering market and upside when most of the tenants rollover in the next four to six years.”

According to Fulp, “It’s a great stabilized, basis opportunity,” and is “one of the few places that an investor can be rewarded for calculated risk. Almost all other Bay Area submarkets are momentum investments now.”

Whatever the trading price, there has been some robust activity in the area, as Jones Lang LaSalle’s Michel Seifer recently told GlobeSt.com. “Strong Bay Area economic fundamentals that have been driving robust activity in San Francisco and Silicon Valley has now spread to the East Bay where we have seen a marked increase in leasing activity,” he said in a recent GlobeSt.com article. “Transit-oriented locations such as Concord Bart and Walnut Creek Bart have performed particularly well of late as tenants seek high quality properties that offer the convenience of public transportation.”

As for Brandywine, the firm just recently released its Q4 financial and operating results numbers, and said that 2011 was a year in which it exceeded its revenue targets, improved portfolio occupancy, and completed its credit facility and term loan financings as well as created a joint venture investment platform in the Metro DC region with a high quality investment partner. According to Sweeney, “looking ahead to 2012, we are maintaining our previously announced guidance range as we are well positioned operationally and financially to execute our 2012 business plan.”