PSAI Realty Partners Acquires Pleasanton Office Complex For $73.5M

An East Bay office complex located at 4900 Johnson Drive in Pleasanton has been sold for $73.5 million. The property, spanning 357,338 square feet, was purchased by PSAI Realty Partners, highlighting the challenges faced by the Bay Area's office market. The transaction reflects a significant decline in value since its last sale seven years ago, echoing the broader trends of a declining office market in the region.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $73,500,000
• Address: 4900 Johnson Drive
• Market: Pleasanton
• Buyer: Peter Sullivan - PSAI Realty Partners
• Seller: Santos H. Kreimann - Los Angeles County Employees Retirement Association
• Broker: Jeff Weil - Colliers International
• Square Footage: 357,338 SF
• Price per Square Foot: $206

The sale of the Pleasanton office complex was facilitated by Jeff Weil of Colliers International, representing the buyer, Peter Sullivan, who is affiliated with PSAI Realty Partners. The seller, Santos H. Kreimann, represented the Los Angeles County Employees Retirement Association. The transaction underscores the current challenges faced by the Bay Area office market and the decline in value seen in recent years.