Clarion Partners has sold a 362,399-square-foot office complex property in the San Francisco East Bay region for $162 million.
According to Newmark, which represented the investment company, it was the "largest multi-tenant office sale on the West Coast since 2022."
Known as the The Plaza at Walnut Creek, the property consists of two buildings and is located at 1331 and 1333 North California Boulevard. The muli-tenant units led the San Francisco East Bay market in the last half-decade with an occupancy of 91 percent and it was 93 percent leased, as of the time of the sale. Plus, the asset comes with an underground parking garage. Over 38,000 vehicles pass by The Plaza at Walnut each day, according to Newmark.
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