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3/27/20
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TMG Partners has purchased The Quad, a seven-building, 410.1k sf office campus in Santa Clara. The complex, located at the intersection of Tasman Dr and Bunker Hill Lane, consists of all two-story buildings constructed in 1982 and recently renovated by JP Morgan. The price was not immediately given out.
Occupying 50% of the project on a long-term lease, anchor tenant Silicon Valley Bank maintains headquarters for their Global Commerce Bank operations at the property. Other tenants include GoDaddy, Perspecta, and a recently executed 23k sf lease with Knowles, bringing occupancy at the property to 73%.
Situated three blocks from Levi’s Stadium, across from Kylli’s Mission Point, and four blocks from a 9.2 msf mega-community under development, the property is adjacent to VTA Light Rail station and easily accessible to us 101 and CA 237. Floor plates range from 19k sf to 50k sf, able to accommodate a large range of users.
Existing upgrades include an expansive outdoor courtyard, coffee shop, bocce ball and food truck courts, fitness center, market-ready spaces, modernized entryways and window lines. The site is also entitled for an additional 150k sf, providing the opportunity for a build-to-suit development for an interested tenant.
“TMG Partners was attracted to this property because of its stable long-term cash flow, the Santa Clara location, our understanding of the need to provide office space for the many different size requirements of today’s tenants, as well as the existing suite of amenities,” said Ben Kochalski, Regional Partner with TMG Partners. “We will continue to add amenities and improvements with the confidence we will attract more businesses looking to headquarter in this location.”
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