TBI ACQUIRES THREE CAMPBELL BUILDINGS

Toeniskoetter & Breeding, Inc. Development has acquired three adjacent office buildings located between Winchester Boulevard and Camden Avenue in Campbell. The three one-story buildings at 743, 745 and 747 Camden Ave. total 61,056 square feet and were acquired from a partnership owned by the family of the late Howard J. White III, Vice President Dan Amend of TBI Development announced.

DAN AMEND NAMED DIRECTOR OF CHILDREN’S DISCOVERY MUSEUM

Daniel T. Amend, Vice President of Toeniskoetter & Breeding, Inc. Development (TBI Development), has been appointed to the Board of Directors of the Children’s Discovery Museum. Mr. Amend also has joined the museum’s Committee on Exhibits & Programs, which is developing the “Art Loft,” a new art studio for children 4 to 10 years old for which TBI is making a significant contribution.

TBI ACQUIRES THREE CAMPBELL BUILDINGS

TBI Development Partners with Thrivent Financial for Lutherans

Toeniskoetter & Breeding, Inc. Development has acquired three adjacent office buildings located between Winchester Boulevard and Camden Avenue in Campbell. The three one-story buildings at 743, 745 and 747 Camden Ave. total 61,056 square feet and were acquired from a partnership owned by the family of the late Howard J. White III, Vice President Dan Amend of TBI Development announced.

This transaction was TBI Development’s first under a new equity partnership with Minneapolis-based Thrivent Financial for Lutherans, which is the world’s largest fraternal benefits society and a Fortune 500 financial services corporation with more than $65 billion in assets under management.

“Thrivent Financial has previously provided financing for TBI developments, and the equity partnership grew out of this lending relationship,” Mr. Amend said. “We were attracted to the Camden Avenue buildings by their excellent West Valley location, easy access and general good condition.”

The three Campbell buildings are 92% leased, and negotiations are under way for leasing the vacant space. The three largest tenants are Automation Controls Group, Inc.; Cryotech/VBS International Inc.; and the American Cancer Society.

The buildings were constructed in 1991. While they are in good condition, TBI intends to make some improvements, Mr. Amend said.

Steve Pace, Erik Hallgrimson and Jon Decoite of CPS Commercial Real Estate Services represented TBI Development in the transaction. Mark Ziemendorf and Todd Shaffer of Cornish & Carey Commercial/Oncor International represented the sellers. Daniel Friedeberg and John W. Souza of Barry S. Slatt Mortgage Co. in Burlingame brokered the lending relationship that evolved into the equity partnership.

The three new buildings add to what is becoming a cluster of TBI Development properties in Campbell. Last summer TBI Development acquired the office/R&D building at 2605 S. Winchester Blvd. that houses the headquarters of Hunter Laboratories, Inc. TBI Development also manages the 60,000-square-foot building at 3175 S. Winchester Blvd., and it developed the medical office-retail center of Campbell Gateway Square. The recently completed Los Gatos Medical Office Center near Campbell is also a TBI Development project.

The West Valley office market that includes Campbell has been among the strongest throughout the Silicon Valley real estate recession. The Winchester/Camden location on a major arterial near two expressways and three freeways provides easy vehicular access for employees while being near executive housing in Los Gatos, Saratoga and Monte Sereno.

Founded in 1983, Toeniskoetter & Breeding, Inc. Development has developed 2.5 million square feet of buildings, manages a portfolio of 2 million square feet and serves as managing general partner for a number of diversified real estate properties throughout Santa Clara and Santa Cruz counties.