SUNNYVALE, CA--(Marketwire - Apr 5, 2012) - Trumark Commercial announced today that it has concluded extensive renovations on its property located at 690 East Arques Avenue in Sunnyvale and the property, which has been unoccupied for several years, is open for tours and ready for immediate occupancy.
The 3.15-acre parcel is ideally situated along the Central Expressway, less than two miles from the nexus of the Southbay (237) and Bayshore (101) Freeways and just a quarter-mile from the Caltrain commuter rail. The two-story building contains 65,520 square feet of office/R&D space and the layout provides excellent flexibility to meet potential tenant demand.
The property features desirable amenities at an excellent location in a size that is uncommon in Sunnyvale. The timing for this building coming to the market is ideal as area rental rates and occupancy rates are both trending up.
"This property represents an exceptional opportunity," explained Ron Winter, principal for Trumark Commercial. "The market perception had been that the former owner was not particularly motivated to lease or sell the building. We've executed $1.3 million in renovations and upgrades over the past several months that have dramatically improved the curb appeal of the property. We took an underutilized building and injected new life into it, creating a space for businesses looking for a presence in the heart of Silicon Valley."
The exterior transformation of the structure included replacing the existing exterior wood paneling, applying fresh paint and adding an additional extensive new glass line, which not only dramatically improves the building's aesthetic appearance but also brings in more natural light. The first-floor lobby area was expanded and opened to the second floor and the main entry is now all glass.
In addition to new market-ready interiors, including tile, carpet and paint throughout the building, the company also added a conference room, renovated the restrooms and updated structural building details such as handrails and mullions. Both floors have nine- to 10-foot ceilings with clear heights up to 15 feet.
The landscaping, which had been neglected, also received a much-needed facelift. The existing trees have been removed or thinned and new flora added, resulting in a more appealing entryway. The property also boasts a new monument sign and parking accommodation for 230 cars.
Brokers are Ken Candelaria and Gregory Davies with Cassidy Turley. Equity partner is Harbert Management Corporation. General contractor was Hollander Smith Construction and the architect was Vitae Architecture.
About The Trumark Group of Companies
Trumark Commercial, which builds, leases and sells commercial buildings, has entitled or developed approximately two million square feet of office, R&D, retail, and hotel properties in the northern portion of the Golden State. The company is dedicated to providing land sellers intelligent choices for development opportunities to maximize land values while at the same time serving businesses by providing commercial space in desirable locations that meet market needs. Trumark Commercial is part of the Trumark Group of Companies, a diversified real estate developer and builder with expertise in land acquisition, homebuilding, community design, entitlements and office, R&D and retail development. Additional information is available at http://www.trumark-co.com/commercial/index-commercial.asp. For any Commercial opportunities, please contact Zack Haller at (925) 309-2511.
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