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 ACQUIRES
91 E. TASMAN IN NORTH SAN JOSE

   

Toeniskoetter & Breeding Development and the Bryan Family Partnership
have acquired this building at 91 E. Tasman Drive in San Jose.
 

SAN JOSE, California  –- Toeniskoetter & Breeding, Inc. Development and the Bryan Family Partnership have acquired the 83,632-square-foot office building at 91 E. Tasman Drive, TBI Development Senior Vice President Dan Amend announced. TBI Development expects to begin construction soon to remodel and reposition the 1990 building into a Class A office/R&D building for a corporate headquarters or multitenant offices.

The partial two-story building had been occupied for its entire life by Centigram Communications Corp., which is now part of SS8 Networks of San Jose and which has relocated to smaller offices. TBI Development and the Bryan Family Partnership, whose commercial real estate portfolio it has managed since 2005, each own 50% of a limited liability corporation formed to acquire the Tasman property.

 “This building meets all our criteria for acquiring well-located properties to which we can bring added value,” Amend said. “91 E. Tasman has a prominent location within the Golden Triangle area of North San Jose with immediate access to transportation and many amenities for a corporate user. Our improvements will include new HVAC equipment, and all interiors will be replaced and upgraded to Class A status.”
 The E. Tasman property is located one parcel away from North First Street amidst buildings of Cisco Systems’ main campus. Three freeways, 237, 880 and 101, provide motor vehicle access, and directly across the street is the Baypointe Transfer Station offering light rail and bus service.

Toeniskoetter & Breeding Development Construction Services is managing the improvement program. Arc Tec Inc. of Phoenix is the architect. Leasing brokers for the repositioned building are Eric Hallgrimson, Steve Pace and Jon DeCoite of CPS/CORFAC International in San Jose.

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. In addition to its relationship with the Bryan Family Partnership, TBI Development has an equity partnership with Thrivent Financial for Lutherans, whose acquisitions include120,000-square-foot First Franklin Plaza at 2150 North First Street in San Jose.    

          Toeniskoetter & Breeding Development manages company-owned properties in its portfolio, engages in third-party property management and pursues new developments. The portfolio includes two business parks in Morgan Hill, 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.