Grosvenor Americas acquires 99,000 sq ft Class A office building in Silicon Valley

Grosvenor Americas has acquired Century Plaza II, a 99,126 square foot Class A office building in the heart of Silicon Valley in San Jose, CA. The six-story, LEED® Gold certified property at 560 S. Winchester is fully leased to Rockefeller Group Business Centers, Cushman & Wakefield, and Merrill Lynch Wealth Management. The seller was Deka Immobilien, based in Germany. Savills LLC represented the seller in the transaction.

1st July 2013

Grosvenor Americas has acquired Century Plaza II, a 99,126 square foot Class A office building in the heart of Silicon Valley in San Jose, CA. The six-story, LEED® Gold certified property at 560 S. Winchester is fully leased to Rockefeller Group Business Centers, Cushman & Wakefield, and Merrill Lynch Wealth Management. The seller was Deka Immobilien, based in Germany. Savills LLC represented the seller in the transaction.

Built in 2001, Century Plaza II provides excellent visibility and direct access to I-280, which connects San Jose with Cupertino, Palo Alto, and San Francisco. It is also in close proximity to I-880 and Highway 17, which serve areas to the east and south.

Tenants and visitors appreciate the property’s location, as one of the few office buildings on the same block as Santana Row, a vibrant pedestrian-friendly community of luxurious residences as well as some of Silicon Valley’s premier shopping, dining, entertainment, and nightlife destinations. Santana Row offers everything from Gucci and Salvatore Ferragamo to a Tesla showroom along with a movie theater, farmers’ market, fountains, outdoor concerts, and a fullservice boutique hotel.

“With employers increasingly focused on drawing top talent, Century Plaza II offers users an outstanding working environment and superior walkable amenities, said James Delmotte, Senior Vice President, Investment for Grosvenor Americas. “This LEED® Gold property furthers Grosvenor’s longstanding commitment to our Living Cities vision, which drives our investment and development of sustainable mixed-use properties in dynamic cities all over the world. ”

Sommer Johnson, Investment Manager for Grosvenor Americas, stated: “Century Plaza II provides us with strong cash flow, long-term upside, and good  diversification for our portfolio of West Coast properties.” He added, “We will continue to focus our acquisition efforts on value-add and core-plus office, retail, multifamily residential, and mixed-use properties. Our target markets include the Bay Area, Los Angeles, Orange County, Seattle, and Washington, DC.”

ENDS

For more information contact:
Naomi Curtis/Sorrel Basher, Press Office
Grosvenor
020 7312 6479/6101
pressoffice@grosvenor.com

Notes to Editors

Grosvenor is a privately-owned property group with offices in 19 of the world's most dynamic cities. We have regional investment and development businesses in Britain & Ireland, the Americas and Asia Pacific. Our international fund management business operates across all these markets and also Continental Europe. We also have indirect investments, managed centrally. As of December 31, 2012, the Group had total assets under management of £12.2bn ($19.9bn). Unusual for a private company, Grosvenor publishes a full Annual Report & Accounts, available at: www.grosvenor.com.

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