ABOUT THE PROPERTY
Stoneridge V is part of the five-building Stoneridge
Corporate Plaza, located at the intersection of I-580 and I-680,
adjacent to the 1.3 million square foot Stoneridge Mall. ZKS and Carlyle
entered into a forward purchase agreement with Opus West to acquire
Stoneridge Corporate Plaza Building V. ZKS leased the building to 100%
occupancy, pushing rents upward throughout the lease-up. We sold the
building in January 2001 in a package along with Stoneridge IV and
Stoneridge I, II, & III for $255 per square foot. which was the highest
price per foot to date of any investment sales in the Tri-Valley.
Stoneridge V generated a realized 48% IRR.
INVESTMENT DATA
Capital Partner The Carlyle Group
Purchased From Opus West
Sold to Hines Interest/CALPERS
Date Purchased October 1998
Date Sold January 2001
Purchase Price $10,300,000 ($143 psf)
PROPERTY DESCRIPTION
Location Pleasanton, CA
Property Type Class A Office
Property Description One 3-story building
Rentable Square Feet 72,080
Year Built 1998