SOURCE: American Realty Advisors

September 27, 2007 14:15 ET

American Realty Advisors Acquires 2999 Oak Road in the San Francisco Bay Area

GLENDALE, CA--(Marketwire - September 27, 2007) - American Realty Advisors announced today that it has acquired 2999 Oak Road (formerly known as Vodafone Plaza), a 201,028 square foot premier Class-A office building located just east of San Francisco in Walnut Creek, California. This high profile office property was recently awarded the EPA's highly esteemed ENERGY STAR® award for superior environmental performance. It also features a five-level parking garage, on-site amenities and restaurant, and outstanding panoramic views of Mount Diablo. 2999 Oak Road enjoys excellent visibility from Interstate 680 and is adjacent to the Embassy Suites, Renaissance ClubSport Hotel and other Pleasant Hills BART transit-oriented developments ("TOD"). The Property's roster of major credit tenants includes Vodafone, Basic American Foods, and McDonald's USA. This transaction was completed on behalf of one of American's commingled funds.

Greg Blomstrand, Principal and Managing Director, Portfolio Management at American, stated, "This acquisition was driven by our confidence in the Bay Area economy as well as our belief that TODs in technology-driven markets will outperform general office investment benchmarks over our intended investment period. In addition, we expect the redevelopment of the adjacent Pleasant Hills BART Station will enhance an already strong amenity base available to our tenants."

American Realty Advisors, a California corporation, is an SEC-registered investment advisor under the Investment Advisers Act of 1940 and a leading provider of real estate investment management services to institutional investors. With more than $4.4 billion* in assets under management, American has provided innovative real estate solutions to institutional investors for over 19 years utilizing core and value-added commingled funds and separate accounts. The firm's portfolios include office, industrial, multi-family, and retail properties nationwide. Information regarding American can be found online at www.americanreal.com.

* Estimated as of June 30, 2007, representing gross value of all assets and accounts managed by American (excluding partners' share of equity and partners' share of debt on partnership investments) plus approximately $479 million in undrawn commitments.

Contact Information

  • Contact:
    Joyce Ezaki
    818/409-3280

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