REBUSINESSONLINE – Buchanan Street Partners Buys 99,716 SF Newark Tech Park in Bay Area

This article originally appeared in REBUSINESSONLINE

Buchanan Street Partners has purchased Newark Tech Park, an office and life sciences asset in Newark. New York-based Time Equities sold the property for $26.2 million.

Located at 8000 and 8100 Jarvis Ave., the two-building project features 99,716 square feet of space. Built in 2001, the park offers efficient floor plates, 16-foor clear heights and building spaces that can accommodate tech and biotech space.

Buchanan financed the acquisition through assuming an in-place CMBS loan on the building at 8000 Jarvis Ave. and secured a new bank loan for the building at 8100 Jarvis Ave.

Peter Thompson of JLL assisted with the bank financing. Grant Lammersen, Steve Golubchik, Tyler Myerdirk and Edmund Najera of Newmark Knight Frank represented the seller in the transaction.