Oak Creek Technology Centre is a one and two-story Office/R&D complex of 192,604 square feet in four buildings, all located on adjacent parcels in the Oak Creek Business Park within the “Golden Triangle” of Silicon Valley. The concrete tilt-up buildings were all built in 1982 and sit on 12 acres of land.
Purchased the project 100% vacant from Carlyle Group in 2007.
Having been vacant for some time, the buildings (one of which was in shell condition) required significant capital to address deferred maintenance items in addition to market ready work.
The vacancy, at the time, represented a significant value creation opportunity.
Following acquisition, Orchard Partners commenced a capital plan, which consisted of upgrading various building systems, repairing and replacing roofs, upgrading the building lobbies and modernizing the façades and general appearance of the 80’s vintage buildings.
Additional work included new ceilings, lighting, restroom finishes and landscaping.
1561 Buckeye was successfully leased in 2008 to Proxim Wireless, a wireless networking technology company.