|
|
6/02/16
|
Sand Hill Property Company, along with its joint venture capital partner, has obtained $120 mil in financing for two office buildings totaling 260k sf, located within Main Street Cupertino, in the Silicon Valley city of Cupertino.
Main Street Cupertino is a state-of-the-art, mixed-use project designed to serve as the town center for Cupertino. The development consists of office, retail, hotel and loft apartments. The offices were completed earlier this year, while the retail component is slated to be completed by the end of 2016.
Several retailers are already open for business, including Lazy Dog, Lyfe Kitchen, TD Ameritrade, Eureka! Burger, and Philz Coffee. The hotel, which is franchised to be a Marriott Residence Inn, and apartments are slated to open in 2017. The development is accentuated by a dynamic urban-contemporary design which will include a one-acre town square and a half-acre park.
John Nelson and Erik Franks of CBRE's San Francisco office arranged the financing. The interest rate was a variable, LIBOR-based rate. Financing was provided by HSBC Bank USA, National Association.
Located in the heart of Silicon Valley, Cupertino is home to several of the largest technology companies in the world and boasts a 2016 Average Household Income of $188,627. Its prominent location allows retailers, as well as employers, to draw from West Valley communities along the I-280 corridor, producing a diverse group of employees and clientele. Cupertino's demographic profile is truly unique in comparison to any other city in the Bay Area.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
