Swift Realty Partners’ One Concord Center Quickly Filling Up
Swift Realty Partners’ One Concord Center is exceeding the firm’s expectations growing its tenant roster. In just 7 months, 14 lease transactions totaling 111,615 square feet (sf) were completed bringing the occupancy rate of the 358,589 sf property from 43.2% to 78.3%. Breck Lutz and Alex Grell of Cornish & Carey Commercial Newmark Knight Frank’s Walnut Creek office represent Swift’s One Concord Center for lease.
Swift Realty Partners was founded in July of 2010 by former President and Chief Executive Officer of Blackstone’s Equity Office Properties Christopher Peatross. One Concord Center, purchased in late September of 2010, was Swift’s first investment. Several large tenants had vacated the 15-story Concord property located at 2300 Clayton Road prior to the sale and upon purchase, 203,821 sf remained available for lease.
“I am extremely pleased with the pace at which One Concord Center is filling up,” said Swift Founder Christopher Peatross. “I targeted this building as Swift Realty Partners’ first investment because of its incredible potential. With strong ownership and leasing teams in place, One Concord Center is proving itself to be the choice destination for East Bay and Bay Area companies.”
Recent lease transactions at One Concord Center include:
• Sutter Health leased a full floor – 24,960 sf – and will move a finance operation currently based in San Francisco to Concord.
• Swinerton Corporation leased a full floor – 24,960 sf –and will move local operations to the new property.
• Towill Inc. leased 15,680 sf and will expand its 9,238 sf Concord operations and relocate a San Francisco-based group to the new space.
• Progressive Insurance renewed its 11,208 sf lease at the property.
• TRC Environmental leased 9,789 sf and will move local operations to the new property.
• Jacobs Engineering leased 7,987 sf and will move Walnut Creek operations to One Concord Center.
• Rimkus Consulting, Pacific Pension, Business Thru Government, Inc., Closure Solutions, Inc., Validus Corporation, Carotrans International Inc., Lamar Advertising Company and Pacer each signed leases of less than 4,000 sf at One Concord Center.
One Concord Center is Concord’s premier Class A office building. The 358,589 sf 15-story property is located immediately adjacent to the Concord BART station. Occupants also enjoy access to numerous on-site amenities including a fitness facility with showers, a full-service cafe and a large tenant conference center. The building lies within walking distance to the downtown’s numerous restaurants, services and hotels. Other significant tenants at One Concord Center include United Health Group and Cardno Entrix.
“While the Concord commercial real estate market is gradually improving, we are experiencing a tremendous occupancy surge at One Concord Center because of the quality of the space, its location and stable ownership,” said Cornish & Carey Commercial Newmark Knight Frank Senior Vice President Breck Lutz. “We anticipate the building to be fully leased in 2012.”
A dominant regional real estate force since 1935, Cornish & Carey Commercial partnered in 2010 with Newmark Knight Frank, one of the largest independent real estate service firms in the world, to become Cornish & Carey Commercial Newmark Knight Frank. Regionally, more than 280 agents in 13 strategically located offices throughout Northern California create a powerful combination of people and services that uphold Cornish & Carey Commercial Newmark Knight Frank core values of integrity and knowledge. Headquartered in New York, Newmark Knight Frank and London-based partner Knight Frank operate from over 220 offices in established and emerging property markets on six continents. With a combined staff of 7,300 and revenues last year exceeding $861 million, this major force in real estate is meeting the local and global needs of owners, tenants, investors and developers worldwide. For more information, visit: www.ccareynkf.com