JLL Capital Markets closed the sale of Valent Innovation Center, a two-story, 96,535-square-foot R&D asset in San Ramon. JLL represented the seller, Madison Marquette. Orion Office REIT acquired the asset, fully leased to Sumitomo Chemical subsidiary Valent USA, as the first acquisition under its new entity.
Located at 4600 Norris Canyon Rd. in the Bishop Ranch submarket of San Ramon, the property opened in 2020 and was most recently renovated in 2022. It drew a significant amount of investor interesting from institutional investors, net lease funds, high net worth investors and foreign capital. Published reports put the sale price at $35 million.
JLL Capital Market’s Investment Sales and Advisory team was led by managing director Adam Lasoff, senior director Erik Hanson, senior managing director Rob Hielscher, senior analyst Caroline Reynolds and analyst Quinn O’Connor.
