Representative Case Studies:

 

 The Building Before...

1019 Market Street, San Francisco 

Size: ~75,000 rsf

Location: Mid-Market, San Francisco

Acquired from: Long time family owner

Sold to: German Pension Fund Advisor

Acquired from a long-time family owner through a fractured marketing process, 1019 Market Street required a full building upgrade and repositioning.  A historic 75,000 square foot brick and timber building in the coveted Mid-Market neighborhood with significant deferred maintenance.  A full restoration and renovation was required.   During the renovation, Zendesk leased the office portion of the building for their corporate headquarters.

Winner of the NAIOP San Francisco Investment of the Year in 2014.

 

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2125 O'NEL DRIVE, San joSe 

Size: ~104,000 rsf

Location: North San Jose, San Jose

Acquired from: Micron Corporation

Sold to: Institutional Real Estate Fund

2125 O'Nel Drive was fully vacant, excess corporate real estate.  Cannae acquired the asset for well below replacement cost and embarked on a substantial market ready plan.  Shortly after the completion of renovations, the building was leased to 8x8 as its corporate headquarters.

 

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West Las Positas, Pleasanton

Size: ~188,000 rsf

Location: Hacienda Business Park, Pleasanton

Acquired from: High Net Worth Family

Sold to: Institutional Real Estate Fund / Residential Developer

Acquired in an off-market transaction, the campus consisted of one empty 85k rsf R&D building and a two-story, 103k rsf office building with expiring leases to credit companies.  During diligence and shortly thereafter, long term lease extensions were consummated with the tenants in the office building.  After stabilizing the office building it was sold.  Simultaneously, a residential overlay was completed on the land with the empty building.  The empty building was then sold to a residential developer.