SUNNYVALE, Calif. –Trumark Commercial announced today that it has acquired a 3.15 acre parcel at 690 East Arques Avenue in Sunnyvale, Calif. for an undisclosed purchase price. The property includes a two-story office/R&D building consisting of more than 65,000 square feet. Ideally located along the Central Expressway, the property is less than two miles from the nexus of the Southbay (237) and Bayshore (101) Freeways and just a quarter-mile from the Caltrain commuter rail.

This property represents an exceptional opportunity,” explained Ron Winter, principal for Trumark Commercial. “The market perception has been that the former owner was not particularly motivated to lease or sell the building. We’ve planned $1.3 million in renovations and upgrades that will dramatically improve the curb appeal of the property as well as a fresh marketing campaign, which we expect to considerably increase the activity on the building.”

The layout of the existing structure provides excellent flexibility to meet potential tenant demand with two approx. 32,000 square foot floor plates, which can easily accommodate one full building tenant or two single floor tenants. The timing for the acquisition is ideal, coming as area leasing and occupancy rates are both trending up.

The property, which has been unoccupied for several years, is open for tours and ready for immediate occupancy. The renovation and upgrade work is expected to commence in immediately with completion by February.

The exterior transformation of the structure will include a makeover to the building facade and adding additional glass, not only dramatically improving the building’s aesthetic appearance but also bringing in more natural light. The first-floor lobby area will be expanded and opened to the second floor and the main entry will be all glass. There is currently parking accommodation for 230 cars.

In addition to new carpet and paint throughout the building, the company also plans to add a conference room, renovate the restrooms, and update the interior building details. Both floors have 10-foot ceilings with clear heights up to 15’.

The landscaping, which is outdated and drab, will also receive a much-needed facelift. The existing trees will be thinned and new flora will be added, resulting in a more appealing entryway.

Brokers are Ken Candelaria and Gregory Davies with Cassidy Turley and Al Guggenheim and Gary Nailon of Guggenheim Realty Group. Equity partner is Harbert Management Corporation. General contractor is Hollander Smith Construction and the architect is Vitae.

For more information about this or future developments, please contact Zack Haller of Trumark Commercial at (925) 309-2511.

About The Trumark Group of Companies

The Trumark Group of Companies is a diversified real estate developer and builder with expertise in land acquisition, homebuilding, community design, entitlements and office, R&D and retail development. Trumark Companies is the residential development arm of the organization and operates in Northern and Southern California. Trumark Commercial, which builds, leases and sells commercial buildings, operates in the northern portion of the Golden State. Trumark Homes builds high-quality homes at competitive prices throughout California and has positioned itself for the housing market rebound. Additional information is available at www.trumark-co.com