Lennar Homes & Kennedy Lewis Investment Management Acquire San Ramon Office Complex For $40.5M

Lennar Homes of California has acquired an office complex in San Ramon for $40.5 million, paving the way for the Iron Horse Village development. The office complex, located at 3401 Crow Canyon Road & 12943 Alcosta Road, spans a total area of 212,000 square feet. The sale price amounts to $191 per square foot. The transaction took place in the San Ramon market, which is known for its sluggish office market.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $40,500,000
• Square Footage: 212,000
• Price Per Square Foot: $191
• Address: 3401 Crow Canyon Road & 12943 Alcosta Road
• Market: San Ramon

The buyers involved in this office complex acquisition are Stuart Miller of Lennar Homes and Darren Richman of Kennedy Lewis Investment Management. Stuart Miller represents Lennar Homes, while Darren Richman represents Kennedy Lewis Investment Management. On the other hand, Tony Perino of Nearon Enterprises is the seller in this transaction. The collaboration between Lennar Homes and Kennedy Lewis Investment Management aims to demolish the existing office buildings to make way for the Iron Horse Village development, a residential project comprising 117 units. This acquisition signifies Lennar Homes' commitment to expanding its presence in the San Ramon market.