DivcoWest said it has bought two office buildings located near the Concord BART station in a deal that sources estimate to be worth $84 million.
The buildings total 600,000 square feet and sources with direct knowledge of the transaction's details say San Francisco-based DivcoWest paid $140 a square foot, which works out to about $80 million. The two buildings are 100 percent leased to Bank of America, including a banking data center. The purchase was arranged through realty brokerage Jones Lang LaSalle.
Divco wouldn't discuss the terms of its purchase. The transaction was completed on Sept. 28, Contra Costa County public records show. The buildings involved in the deal are located at 2000 and 2001 Clayton Road.
This deal comes slightly more than a year after the seller, San Francisco-based Swift Realty Partners, paid $80 million to buy from Bank of America the 1-million-square-foot Concord complex that included the two buildings that Swift sold to DivcoWest.
Swift is seeking a buyer or tenants for the buildings it continues to own in the Concord Plaza complex.