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 DEVELOPMENT ACQUIRES CAMPBELL OFFICE BUILDING

SAN JOSE – Toeniskoetter & Breeding, Inc. Development (TBI Development) has acquired the office/R&D building at 2605 S. Winchester Blvd. in Campbell that houses the headquarters of Hunter Laboratories, Inc. TBI Development acquired the 24,184-square-foot building from a partnership owned by the family of the late Howard J. White III, Vice President Dan Amend of TBI Development announced.

While much of the current activity in Silicon Valley commercial real estate involves national institutions buying out long-time local developers, the TBI transaction points to the strength of local buyers as well. “Although a little smaller than most of our targeted properties, the Hunter Laboratories building fully meets our criteria for buildings with excellent locations and upside potential that are priced below replacement cost,” Amend said. “We are already making exterior improvements that significantly enhance the building’s value.”

Hunter Laboratories, which is the largest locally owned and operated clinical reference laboratory in Northern California, occupies approximately half the one-story building, with branches in 11 other locations. TBI Development’s award-winning property management group is confident that building enhancements and a strengthening local economy will attract additional tenants.

The West Valley office market that includes Campbell has been among the strongest throughout the Silicon Valley real estate recession. The Winchester Boulevard 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.

Steve Pace of CPS Commercial Real Estate Services in San Jose represented TBI Development in the acquisition, and Mr. Pace and two other CPS brokers, Erik Hallgrimson and Jon Decoite, are marketing the 12,555 square feet of vacant space.

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. The TBI portfolio includes the 30-acre Cochrane Business Ranch and the 110-acre Madrone Business Park, both in Morgan Hill; 450 West Santa Clara Street, the O’Connor Health Center, and 525 Race Street, all in San Jose; and the Granite Creek Business Center and other buildings in Scotts Valley.