MADRONE VILLAGE SHOPPING CENTER OPENING

Toeniskoetter & Breeding Inc. Development (TBI Development) will open the first phase of the 80,000-square-foot Madrone Village Shopping Center, President Brad Krouskup announced. The four initial businesses there will be South Valley National Bank, Peet’s Coffee & Tea, FedEx Kinko’s and Chipotle Mexican Grill. Together the four will occupy more than half the space in the four-building, 28,000-square-foot first phase.

TOENISKOETTER & BREEDING INC., DEVELOPMENT ACQUIRES 'COMUNITY LENDING’
HEADQUARTERS BUILDING

MORGAN HILLL, California  –- Toeniskoetter & Breeding, Inc. Development has acquired the two-story, Class A, 38,755-square-foot office building at  610 Jarvis Drive in Morgan Hill, Senior Vice President Dan Amend announced. The building, which was completed in 2000, is 93% occupied by the national headquarters of mortgage company ComUnity Lending, Inc.
“The building at 610 Jarvis is another acquisition resulting from our partnership with Thrivent Financial for Lutherans,” Amend said. “Ever since the building was completed seven years ago, we have admired the quality of its design and materials. Its acquisition underscores Toeniskoetter & Breeding Development’s continued belief in the strong market for high-quality office buildings in Morgan Hill, where we now have more than one million square feet of R&D, light industrial, retail and office space.”

 Representing the seller in the transaction were brokers Paul Melnyk and Jim Kovaleski, both of NAIBT Commercial. John Souza of Barry S. Slatt Mortgage, Inc. was the debt and equity broker.

 The seller of 610 Jarvis was ComUnity Investors LLC, a company created by Darryl Fry, who founded ComUnity Lending more than 25 years ago with one office in San Jose. Mr. Fry is President and CEO of ComUnity Lending, which has been consistently ranked among the top 100 mortgage companies in loans funded each year. The company is licensed to operate in more than 40 states.

Minneapolis-based Thrivent Financial for Lutherans is a Fortune 500 financial services organization with 3 million members. It offers a broad range of financial products and services, including life insurance, annuities, mutual funds, disability income insurance and bank products.

          Founded in 1983, Toeniskoetter & Breeding, Inc. Development has developed some 3 million square feet of buildings and serves as managing general partner for a number of diversified real estate properties throughout Santa Clara and Santa Cruz counties. Toeniskoetter & Breeding Development’s equity partnership with Thrivent Financial for Lutherans earlier led to acquisition of 120,000-square-foot First Franklin Plaza at 2150 North First Street in San Jose and three office buildings in Campbell totaling 61,056 square feet.  

          In addition to acquisition of properties, Toeniskoetter & Breeding Development manages company-owned properties in its portfolio, engages in third-party property management and pursues new developments. The building at 610 Jarvis Drive is across Cochrane Road from two Toeniskoetter & Breeding business parks, 30-acre Cochrane Business Ranch and 110-acre Madrone Business Park. The company is currently developing the 80,000-square-foot Madrone Village Shopping Center in the Madrone Business Park.