SAN FRANCISCO — Graham Street Realty (GSR) has acquired Willows Office Park in Concord, CA from seller and occupant Contra Costa County Employees’ Retirement Association (CCCERA) for $8.55 million. David Dokko of HFF represented the seller in the transaction.
Located near two freeways and abundant retail, Willows is a two-story, 84,715-square-foot, multi-tenant office building on a 4.9-acre parcel located at 1355 Willow Way. Built in 1979, the building has a diversified tenant mix, including companies in the financial services, government, insurance, and legal industries. The property was 93% leased to 14 tenants at the time of sale.
“Willows is a great asset which basically comprises its own asset class in Concord due to its attractive campus setting and location,” said David Messing, principal of Graham Street Realty. “We are excited to acquire this well-located property with strong tenants at a fraction of replacement cost. Between the existing Willows Shopping Center across the street and the CenterCal development that will be soon underway, we will have the best-amenitized office property in Concord.”