New York Life Trust Buys Two in San Ramon

SAN RAMON, CA-New York Life Real Estate Investors, on behalf of institutional investors, has recently acquired two properties here—Norris Tech Center, and Canyon Commons Corporate Plaza.

Norris Tech Center is a 193,510 square foot office / R&D project. The acquisition was concluded as a joint venture with Cannae Partners of San Francisco. Located in the Bishop Ranch area of San Ramon, Norris Tech Center was originally constructed in 1984 and consists of two buildings: a single story, 96,575 square foot single-story R&D Flex building; and a two-story 96,975 square foot office building. The combined buildings are currently 55% leased to four different tenants.