Santa Clara-based Orchard Commercial has been awarded the property management contracts for three (3) high profile office buildings in downtown San Jose totaling 525,000 square feet, by Steerpoint Capital and Bridge Group Investments.
The properties are located at 303 Almaden Boulevard and 111 N. Market Street/111 N. St. James, also known as “Market Square.” Each of the buildings are prominent high-rise office towers that help define the downtown San Jose skyline and include ground floor retail space. 303 Almaden serves as one of several regional offices for Ernst & Young (E&Y) and Market Square houses global giant Rockwell Automation.
These acquisitions made in a span of less than 90 days by investors Steerpoint Capital and Bridge Group, signal a commitment to the long term vitality and resurgence in Silicon Valley and the downtown core in particular. Improvements are planned for each property that will support the current and future tenant work experience.
The new business awards are the latest in a series of new management contracts secured by Orchard since the pandemic and extends the firm’s position as the leading privately-held property management firm in Silicon Valley with 12 million square feet under management. Orchard is owned by Elizabeth Lewis, wife of the late Joe Lewis who was an icon in the industry for many years.
“The opportunity to partner with an emerging investor group to manage these highly visible assets is a tremendous source of pride for our firm. Being able to acquire high profile assets at a considerable discount is how money is made in real estate and these transactions are a case study in timely execution. We are excited to play a key role to support our client’s objectives,” said Byron Renfro, President and COO of Orchard.
Orchard Commercial, Inc. traces its roots to 1973, when Orchard Properties, Inc. was founded and later developed 8 million square feet of Office/R&D properties in Silicon Valley. In 2000, under the ownership of Elizabeth and Joe Lewis, Orchard Commercial, Inc. was formed to focus on third party property management services. Since then, Orchard has worked with institutional and private clients including; Travelers Insurance, Invesco, Morgan Stanley, CM Capital, C3.ai, Stanford University, Google, Informatica, James Campbell Company, DRA Advisors and overseas investment firms, high net-worth individuals and family Trusts.
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