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11/07/22
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In a recent Silicon Valley office buy, Union Investment has acquired The Catalyst, a 195k sf trophy office building in Sunnyvale, for $222 mil ($1,138/sf). Union Investment, based out of Germany, made the acquisition through its Unilmmo: Europa fund.
Constructed in 2021, The Catalyst is located at 684 West Maude Ave, next to business networking firm LinkedIn’s headquarters. The LEED Gold-certified building is also fully leased to LinkedIn.
The building was sold by a joint venture between Harvest Properties and Invesco Real Estate. The venture spent roughly $165 mi in 2019 for The Catalyst’s site along with three adjacent office/R&D buildings. Two of the other buildings were sold to LinkedIn for $123 mil while the other structure was purchased by Apple for close to $50 mil.
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