Drawbridge Realty Trust, a San Francisco-based real estate investment and development company, announced this week that it had acquired Airport Corporate Center at 3850-3880 Brickway Boulevard in Santa Rosa, California for $18 million. Cushman & Wakefield’s San Francisco office represented the seller, Basin Street Properties. According to a San Francisco Business Times article, this is the first of many planned acquisitions utilizing the $150 million revolving credit facility recently secured through KeyBank National Association.
"Acquiring this premier property with a solid national tenant perfectly fits our acquisition profile," said Mark Pearson, Vice Chairman of Drawbridge Realty Trust. "With its high quality construction, and a prominent location in a growing market, we saw this property was a good fit for our portfolio."
Located on the corner of Airport Blvd and Brickway Blvd, the two buildings were built in 2001 total 126,585 square feet of space located on 7.8 acres. Both buildings are 100% leased to Medtronic Vascular, a wholly owned subsidiary of Medtronic, Inc. Medtronic recently invested more than $4 million to install new improvements in 3880 Brickway, indicating a continued long-term commitment to the property.
For more news and information visit Blumberg Capital Partners.
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