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Northwestern Mutual Life Insurance and McCarthy Cook Buy Office Campus in Mountain View

8/20/18

In a recent Silicon Valley office buy, Northwestern Mutual Life Insurance and McCarthy Cook have purchased Castro Station, a three-building, Class A office campus totaling 114.8k sf in downtown Mountain View. The asset was sold by TH Real Estate in a deal estimated to be worth around $180 mil, or well over $1,500/sf.

Castro Station is prominently located with frontage on West Evelyn Ave, adjacent to Caltrain and within walking distance to the abundance of Castro Street amenities. Built in phases between 2000 and 2014, the complex consists of three buildings -- 100, 150 and 200 West Evelyn Ave -- on approximately four acres of land.

The complex is 94% leased to seven tenants anchored by Dropbox which recently occupied the entire 200 West Evelyn building after a state-of-the-art creative office build-out. The well-located campus features ample parking consisting of a three-story, below-grade parking garage with 244 stalls and 102 surface-level stalls.

Steven Golubchik, Edmund Najera, Tyler Meyerdirk and Darren Hollak with NKF Capital Markets represented the seller, TH Real Estate, in the transaction.




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