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5/08/08
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A two-story, 118.4k sf office complex known as Coronado One in Santa Clara was bought by Bixby Land for $36.4 mil ($307/sf). The two-story buildings are situated on more than six acres of land at 3111 and 3141 Coronado Dr and have approximately 20 months of a lease term remaining to Applied Materials Inc.
"The buildings are located in the heart of Santa Clara in an area where significant rent growth has taken place during Silicon Valley's recovery," explained Peter Castleton, Senior Vice President of Voit Commercial Brokerage's Anaheim office. "New development is taking place and investors such as Bixby Land are taking a very bullish outlook on continued growth in the marketplace."
Castleton and Eric Fox of Commercial Property Services represented Bixby Land and the unnamed seller.
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