MetLife buys Walnut Creek office complex
MetLife has bought the Treat Towers office buildings in Walnut Creek, paying $118.5 million for the high-profile office complex.
The purchase marks one of the largest commercial property deals in the East Bay so far this year. The two 10-story towers are located a short distance from the Pleasant Hill BART station near the Interstate 680 and Treat Boulevard interchange.
The seller was a joint venture of Equity Office Properties and Blackstone.
The office complex is about 85 percent occupied, brokers say. The deal was arranged through realty brokerage HFF, which officially announced the purchase price.
San Jose's OCZ T names interim CEO
San Jose-based chip memory company OCZ Technology Group has appointed Alex Mei as interim chief executive officer.
Mei replaces Ryan Peterson, who resigned as CEO.
At present, Mei is chief marketing officer. His appointment as interim CEO takes effect immediately, but he will also maintain his current responsibilities.
Restoration Hardware re-brands itself as RH
Corte Madera-based Restoration Hardware will re-brand itself as RH, in a move to focus more on high-end furnishings.
With the move, the home furnishings retailer leaves its nostalgia-based roots behind.
"RH enhances our identity and moves us
In recent years, Restoration Hardware has sought to engineer a turnaround in its fortunes. The company has redesigned stores, revamped its product line and focused on a higher-end market. The company recently filed papers to launch an initial public offering.