News

March 16, 2018
408-410 East Plumeria Drive Sold

Atlantic Creek Real Estate Partners, LLC (“Atlantic Creek”) is pleased to announce the sale of 408-410 East Plumeria Drive (the “Plumeria Building”) on March 16, 2018. An affiliate of Atlantic Creek and its joint venture partner (the “JV”) acquired the approximately 58,300 square foot building as part of the two-building Montague Business Center (“Montague” or the “Property”) acquisition on December 9, 2015.

The Property is located in North San Jose, Santa Clara County, California. San Jose is located in the heart of Silicon Valley, the world’s high-tech capital. As underwritten, the Plumeria Building became fully vacant shortly after acquisition. It was subsequently repositioned and leased to a subsidiary of Foxconn Technology Group, who began occupying the Plumeria Building in February 2018.

Atlantic Creek, with offices in New York, NY and Palm Beach, FL, targets direct and joint venture investments in opportunistic and value add office, retail, and multi-family commercial real estate primarily located on the East and West Coasts of the U.S., Texas and other select U.S. markets.

For further information on new acquisitions and joint venture opportunities, please contact Joshua Schwalbe, Senior Vice President, in our New York, NY office at (212) 381-7617 or Jon Trucano, Senior Vice President, in our Palm Beach, FL office at (561) 275-7702.