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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.”

Two years after signing one of the largest tech leases in Oakland, the owner of 1500 Broadway is now looking to sell the property and capitalize on the city’s strong office market.

Owner Graham Street Realty, the office arm of San Francisco-based Hamilton Zanze & Co., has hired brokerage CBRE to market the building, and a listing will be active within a few weeks, said three sources familiar with the property.

VSCO, which makes visual design editing apps, leased 49,232 square feet — or more than half of the 88,000-square-foot building — in 2014. The tenant was drawn to the building’s transit access and proximity to restaurants and retail. 1500 Broadway is about a block from entrances to both the 19th Street and 12th Street BART stations.

Read more at the San Francisco Business Times