Nome Capital-led group pays $152M for office campus in Pleasanton

UBS sells property across the street from Stoneridge Shopping Center for $255 psf

Nome Capital-led group buys 596K sf office campus in Pleasanton for $152M
Nome Capital Partners' Jameel Nabulsi with Pleasanton Corporate Commons (Nome Capital Partners, Colliers)

An investor group led by Nome Capital Partners has picked up a four-building office campus in Pleasanton for $151.8 million.

The unidentified group led by the Milpitas-based investment firm purchased the Pleasanton Corporate Commons at 6200, 6210, 6220 and 6230 Stoneridge Mall Road, SiliconValley.com reported.

The seller of the East Bay property was TPF Equity REIT, an affiliate of Connecticut-based UBS Realty Investors.

The price for the 595,600-square-foot Class A complex, built in 2001, plus 1.2 acres of land, works out to $255 per square foot.

It’s not clear when UBS Realty bought the property, or for how much. But its sale price was 33.7 percent below the campus’ assessed value of $229.3 million, as of early last year, according to SiliconValley.com, citing county tax records.

The office hub is across the street from Stoneridge Shopping Center, near the Interstate 680 and Stoneridge Drive interchange. Tenants include 10x Genomics, Blackhawk Network and Workday, according to Google Maps.

Highlights of the property include new conference and fitness centers, a bocce ball court, showers and lockers, a putting green, EV charging station and a cafe, according to a marketing brochure.

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Brokers Seth Siegel, Scott Prosser and Ryan Venezia of Cushman & Wakefield arranged the deal. Brokers Brian Lagomarsino of Colliers and Mitch Hertz of Cushman & Wakefield provided local market expertise.

UBS helped finance the sale of the office campus with a $35 million loan to the Nome-led group. Terms of the loan were not disclosed.

At the time of sale, Nome Capital, led by Rohit Kumar, also borrowed $65.8 million from Citi Real Estate Funding and Bank of America.

In 2021, a Nome Capital Partners affiliate bought a 127,000-square-foot office building at 1310 Harbor Bay Parkway in Alameda for $79.5 million, or $626 per square foot.

In 2020, Nome bought a 10-story, 237,000-square-foot office tower in Torrance, near Los Angeles, for $55.5 million, or $234 per square foot.

— Dana Bartholomew

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