Mana Investments and Hunter Street Partners announce redevelopment plans of vacant Sunset Office Plaza in Livermore
Various office and lifestyle options to fill empty complex beginning 2019
LIVERMORE, Calif., Dec. 12, 2018 /PRNewswire/ -- Mana Investments and Hunter Street Partners today announced plans to revive and rebrand the vacant Sunset Office Plaza into The Well at Sunset, a mixed-use project featuring medical and creative office space, supporting lifestyle uses as well as senior housing. The project at Holmes Street and Concannon Boulevard is slated to commence construction in early 2019.
"We couldn't be more excited to breathe new life into the property and create something special for residents in the area to enjoy again," said Orville Power, managing partner for Mana Investments. "The Well at Sunset will fill a need in the neighborhood and surrounding area, and we're proud to be a part of this vibrant change in the City of Livermore."
The 78,747-square-foot office complex features 10 single-story office buildings on nearly 13.5 acres of land. Developers plan to significantly enhance the existing office buildings while introducing supporting uses such as a coffee shop, juice shop, yoga studio, restaurant, pharmacy and tutor center within six of the buildings. The additional four buildings are being proposed as a senior housing development by The Wolff Company.
"Nationwide, and in places like Livermore, there is an underserved and growing market of renters aged 55+ looking for a convenient, upscale, lock-and-leave lifestyle," said Mike Milhaupt, v.p. of senior development for The Wolff Company. "Revel Livermore will give prospective residents a higher quality senior living option where choices have previously been limited."
Redevelopment plans within The Well at Sunset also include updating a variety of architectural elements with an agrarian theme and enhancing landscape and outdoor features. This approach includes developing an outside office concept and pediatric play area for visitors of the center's medical office. Upon approval of the senior housing plans, five-acres of existing open space will also be significantly enhanced and preserved.
For more information on The Well at Sunset, please visit www.thewellatsunset.com. For information regarding leasing and sale opportunities, please contact Mark Rinkle, Jessica Mauser or Sean Offers of Lee & Associates at (925) 460-6200.
ABOUT MANA INVESTMENTS
Mana Investments is a California-based alternative investment firm with a focus on adding value within the real estate sector. The firm targets acquisitions throughout the western United States and prides themselves on enhancement through thoughtful design. For more information, visit www.manainv.com.
ABOUT HUNTER STREET PARTNERS
Hunter Street Partners is a Minneapolis-based alternative investment management firm that provides capital solutions to operating partner teams and lower middle market companies across corporate finance, real estate, and specialty finance. The firm is focused on fundamentals-driven, asset-oriented credit and equity opportunities. Learn more about Hunter Street Partners at www.hunterst.com.
ABOUT THE WOLFF COMPANY
The Wolff Company is a private equity firm headquartered in Scottsdale, Arizona, with offices in Washington, Massachusetts, and California. For more than six decades, Wolff has invested in, acquired and developed high-quality, amenities-based multifamily properties. For more information about The Wolff Company, visit www.awolff.com.
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Jaime Hayden
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SOURCE Mana Investments; Hunter Street Partners
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