CarrAmerica grows in Silicon Valley

Buys amenity-rich office building

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CarrAmerica Realty Corp. purchased an 85,585-square-foot office building in San Jose, Calif. The value of the transaction was $10.3 million. NetIQ Corp. sold the property, which is located at 3553 North First St. Completed in 1984, the property is 60 percent one-story and 40 percent two-story, with 10- to 15-foot ceiling heights. The asset features tennis, bocce and basketball courts, a fitness center, a cafe, and an outside patio with a built-in barbeque, according to a press statement. In Northern California, CarrAmerica now owns, directly or through joint ventures, interests in 89 office and R&D buildings containing 6.9 million square feet. It owns, develops and operates office properties in 12 markets throughout the United States. *** What's your opinion? Send your Letter to the Editor to