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Harbor Group International Acquires San Francisco Office Property Adjacent to New Apple R&D Facility in Joint Venture with Thor Equities

CUPERTINO, CA (January 3, 2017) -- Harbor Group International, LLC (“HGI”) announced today that an affiliate of the company, in a joint venture with New York based Thor Equities, has acquired a 100,352 square foot office property in Cupertino, California, a suburb of San Francisco. The property is directly adjacent to Apple’s new R&D facility, which is under construction.

The property, built in 1968/1970 and renovated in 2003, is currently 100% leased to an affiliate of Kaiser Permanente. A substantial majority of the office space in the immediate vicinity is owned or leased either by Apple or Kaiser.

“The property is located in a strong submarket with very high demand and limited supply,” said T. Richard Litton, Jr., President of Harbor Group International, “The location, directly across from Apple’s new $5 billion R&D complex with direct access to Interstate 280, is irreplaceable.”

The property is located at the corner of Homestead Road and Tantau Road. In addition to strong office demand from Apple and Kaiser, area amenities include the recently completed Cupertino Main Street with restaurants and 130,000 square feet of retail, a 180-room hotel and park area, and the planned Hills at Valco with 600,000 square feet of retail, 800 residential units and 30 acres of green space.

Harbor Group International, LLC is a private real estate investment and management firm which controls a portfolio of worldwide assets valued in excess of $4.5 billion. HGI is headquartered in Norfolk, Virginia with offices in New York, Baltimore and Tel Aviv. The company’s real estate holdings include approximately 4.6 million square feet of commercial properties and in excess of 22,000 apartment units. For additional information, please visit www.harborgroupint.com.

Thor Equities is a leader in the development, leasing and management of commercial, residential, retail, hotel and mixed-use assets in premier urban locations worldwide. The company maximizes returns for investors by recognizing a property’s potential, reducing operating expenses, increasing tenant satisfaction, and leveraging market trends to maintain a long-term competitive edge. Thor Equities is also the exclusive representative of global retailers through Thor Retail Advisors, a premier leasing agent for marquee properties worldwide. For more information, visit www.thorequities.com.

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Harbor Group International, LLC provides real estate management and real estate investment opportunities and services and is not affiliated with Harbour Group Industries, Inc. (whose website may be found at www.harbourgroup.com), which offers investment services in connection with the acquisition of, development and operation of industrial and manufacturing companies.