properties

California:
Smith Ranch Plaza — San Rafael

Gross Building Size: 45,855 sq feet

Seagate moved quickly to purchase this three-story suburban office building located on 12.3 acres of land. The property was acquired at an above-market capitalization rate with below-market assumable financing due to a partnership dissolution. The property was fully leased to a credit rated tenant for use as their central information systems (computer) facility. Seagate subsequently sold the property at a substantial profit and reinvested the proceeds in other property types.

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