Bernal Corporate Plaza and Sycamore Plaza is a 460,000 square foot suburban Class-A office project owned by Principal Real Estate Investors in Pleasanton, California comprised of two three-story and two four-story buildings. The asset experienced a significant decrease in occupancy when a tenant occupying 42% of the project was acquired, resulting in renewal and downsize at the mid-2018 lease expiration by approximately 110,000 square feet, or 24% of the project. KGIP was instrumental in the re-stabilization of the asset and helped drive marketing efforts by:
As a result of these enhancements, between Q1-2018 and Q1-2020, KGIP was successful in directly renewing and expanding tenants in 109,000 square feet and in working hand in hand with the listing team to execute 119,000 square feet in new deals at the project. KGIP also oversaw the tenant improvements for the total of these 40 new and renewal leases, ensuring TI’s were completed on time and on budget.