$46M Silicon Valley deal

Buyer eyes 'upside opportunity'

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Westcore Properties LLC paid $46.7 million to Minneapolis-based Eagle Ridge Partners LLC for five R&D and office buildings in San Jose, Calif. The buildings, located at 1710, 2010, 2030 and 2040 Fortune Drive and 1953-1965 Concourse Drive, are located on 24 acres in the International Business Park. The total space comprises 430,000 square feet. "We are planning a major renovation to upgrade the park and suite interiors, which will increase marketability. The current project vacancy coupled with a recovering R&D/office market will provide upside opportunity," Neil Johnson, director of acquisitions for Westcore in Northern California, said in a statement. ...