The sale of the Valent Innovation Center, a 96,535-square-foot R&D building in San Ramon, has been successfully closed by JLL Capital Markets. The property was fully leased to Valent USA, a subsidiary of Sumitomo Chemical and was acquired by Orion Office REIT as their first purchase under their new entity. Madison Marquette was represented by JLL in this transaction.
Located at 4600 Norris Canyon Rd., the two-story building is situated in the Bishop Ranch submarket and underwent renovations most recently in 2022 after its opening last year. This attracted interest from various investors such as institutional investors, net lease funds, high net worth individuals and foreign capital. According to published reports, the property sold for $35 million.
JLL’s Investment Sales and Advisory team played a key role in this transaction with managing director Adam Lasoff leading alongside senior director Erik Hanson and senior managing directors Rob Hielscher. Caroline Reynolds served as senior analyst while Quinn O’Connor worked as an analyst on this deal.
In summary:
– JLL Capital Markets successfully closed on the sale of San Ramon’s Valent Innovation Center
– The two-story R&D asset spanning over 96K square feet was fully leased to Sumitomo Chemical subsidiary Valent USA
– Orion Office REIT made its first acquisition under its new entity with this purchase
– Madison Marquette was represented by JLL during negotiations
– Located at 4600 Norris Canyon Rd., it underwent recent renovations after opening last year
– Investor interest came from various sources including institutional investors and high net worth individuals
