​WALNUT CREEK, CALIF. – Transwestern today announces Berkeley Land Company sold three stabilized East Bay assets to a private investor represented by Michael Cisternino, vice president and director of investment sales at Transwestern.

A 25,587-square-foot, near capacity office building located at 1211 Newell Ave. in Walnut Creek, was acquired by the investor for $7.8 million. Managing Director Edward Del Beccaro, Vice President Scott Ellis, and Vice President Michael Cisternino represented Berkeley Land in the transaction.

Also acquired were an 8,478-square-foot, 100 percent leased retail building at 1101-1105 S. California Blvd. in Walnut Creek for an undisclosed price, and a 10,228-square-foot retail building, soon to be 100 percent occupied by Walgreens, located at 3614 Mt. Diablo Blvd. in Lafayette, California, for $7,325,000. Senior Vice President and Director of Retail Operations John Sechser represented Berkeley Land in the sale of both properties.

“Limited inventory, strong fundamentals and intrinsic value make this a desirable market for investors,” Cisternino said. “Stabilized leased investments in this market are highly-coveted.”

Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, research and sustainability. The fully integrated global enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. As a member of the Transwestern family of companies, the firm capitalizes on market insights and operational expertise of independent affiliates specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 38 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. For more information, please visit transwestern.com and follow us on Twitter: @Transwestern.


Media Contact:
Katherine Thomas