Pleasant Hill Class-A Office Property Sells for $38.5M –

CBRE has announced the $38.5 million sale of The Terraces, a six-story, 135,000-square-foot Class-A building featuring 15 balconies in Pleasant Hill, CA. CBRE reported that office space along the I-680 Corridor in Q2 had the first positive net absorption since late 2019, and companies are placing an emphasis on quality in their return-to-office plans.

CBRE’s Scott Prosser, Jack DePuy, Joe Moriarty, Mike Taquino, Giancarlo Sangiacomo and Alec Haley represented the seller, Eagle Canyon Capital while the firm’s Adam Ebner and Kirk Beebe served as leasing advisors. The buyer was California Capital & Investment Group.

Located at 2300 Contra Costa Boulevard, The Terraces is 87% leased to several companies across technology, financial and professional services. “The I-680 Corridor office market remains an attractive investment for stable, value-add opportunities that are closer to where workers reside,” said Prosser in a news release.