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7/29/15
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A CBRE Global Investors-advised fund has purchased Sunnyvale Crossing, a 262.7k sf office complex in Silicon Valley. The asset, consisting of six Class A buildings, was sold by Lane Partners, out of Menlo Park, in a deal industry pros estimate came in at $117 mil ($445/sf).
The fully leased office and R&D buildings are located at 195 North Wolfe Rd; 120, 160, 165 and 175 San Gabriel Drive; and 707 Kifer Rd, south of Central Expwy and east of Fair Oaks Ave in Sunnyvale. The park, said to be leased to Apple, is comprised of five single-story R&D buildings, one three-story office building, and a five-level structured parking garage.
Sunnyvale Crossing was completely renovated between 2012 and 2015, with capital improvement projects including exterior finishes, interior build-outs, and the addition of common area amenities that cater to technology tenants, such as outdoor courtyards with WiFi. The office building features top-of-the-line improvements, including exposed ceilings, open floor plans, a high-end cafeteria, and glass finishes throughout.
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