Cannae Partners and REALM have sold 4480 Willow Road, a vacant office/R&D building that will be repositioned into a state-of-the-art medical outpatient building and surgical center in Pleasanton, Calif.
JLL represented the seller. The buyer was a publicly traded REIT.
Cannae and Realm acquired this asset off-market in 2022. When purchased, it was understood the building would be fully vacant in the ensuing months. After a modest repositioning, the partnership soon found and executed a full building lease.
4480 Willow Road is located on a 4.78-acre site near Interstate 580 in Pleasanton. The surrounding area boasts a heavy concentration of medical facilities, including more than a dozen medical centers and more than 550 doctors within a two-mile radius.
Due for completion in 2026, 4480 Willow Road is fully leased for 10.5 years to Sutter Bay Medical Foundation, a subsidiary of Sutter Health. The 64,222-square-foot, single-story facility will feature me
