Swift Realty Buys 1 Million SF Bank of America Complex in Concord
- Jul 28, 2011
In one of the area’s largest local office trades of recent years, Bank of America’s 1.1 million-square-foot complex in Downtown Concord has come under the ownership of Swift Realty Partners, the Contra Costa Times reported. Clocking in at $80 million, the deal relieved Bank of America of an asset that the bank has been trying to move since 2008.
According to the San Francisco Business Times, Bank of America—which has occupied the property since its completion in 1986—will lease back its space in two buildings: 2001 Clayton, a 209,000-square-foot building, and 200 Clayton, a 376,000-square-foot property. Rounding out the complex are a 300,000-square-foot building at 1655 Grant and a 189,000-square-foot building at 1755 Grant.
Swift Realty is eyeing a makeover and repositioning aimed at boosting occupancy. A major plus in that effort could be the complex’s location adjacent to Concord’s Bay Area Rapid Transit station.
Emerald Fund Inc. has been tapped to redevelop the 600,000-square-foot former headquarters of the California State Automobile Association in San Francisco’s Civic Center, the San Francisco Business Times reported. The 600,000-square-foot office complex includes a 28-story, 370,000-square-foot tower and two other buildings of 157,000 square feet and 130,000 square feet.