Montague Corporate Center


  • Located in Silicon Valley, Montague Corporate Center is a 257,000 square foot four-building office project acquired in May 2011
  • Property was acquired 77% leased to four tenants with staggered lease maturities at rental rates that were significantly below market


  • Renovate the interior and exterior of the vacant 53,000 square foot building
  • Upgrade landscaping and signage throughout the park


  • Following the renovation of the vacant 53,000 square foot building, the building was leased to a credit tenant for more than 10 years at a starting rental rate 35% above pro forma
  • Renewed an existing park tenant at a rate 125% higher than its in place rent at the time of acquisition
  • After recognizing substantial appreciation in market rents and investor demand for this product type, Montague Corporate Center was sold at a premium in December 2015