|
5/06/15
|
Samsung Electronics has purchased a 385k sf, 8.5-acre office campus in Mountain View from TMG Partners and Farallon Capital Management, the property developers. Although the price was not immediately disclosed, industry sources estimate that the property traded for around $250 mil, or $650/sf.
The complex consists of two, six-story Class A office buildings and two garages plus one acre of open space. The project achieved the LEED Platinum certification rating for Core and Shell.
Samsung inked a 15-year lease for what was then a build-to-suit project in 2012, costing about $200 mil, prior to the developers obtaining entitlements. The transaction provided Samsung a purchase option after completion. Samsung exercised the option and now owns the property.
The development agreement included founding the Mountain View Transportation Management Association and leading the launch of the new MVgo shuttle system that provides free last mile rides to Mountain View employment campuses and Caltrain. The state-of-the-art office/R&D project was completed under budget and ahead of schedule.
The design and construction team included Studios Architecture as lead project architect, the Guzzardo Partnership as landscape designer, and Devcon Construction as general contractor. SOM designed the interiors.
|
|
Return to the Archive page
|
|
|
|
|