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10/29/20
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PMP Tech, a Taipei, Taiwan-headquartered company, paid $98 mil for a six-building office/R&D portfolio in Cupertino. Fully leased to a leading global tech company, the single-tenant, Silicon Valley portfolio totals 136.1k sf ($720/sf) of space.
The Cupertino portfolio consists of a cluster of single-story office/R&D buildings located at 20650 Valley Green Dr, 20700-20730 Valley Green Dr, 20740 Valley Green Dr, 10627-10629 Bandley Dr, 10231 Bubb Rd, and 10341-10351 Bubb Rd. Situated near Apple’s 1 Infinite Loop campus and a short distance from its new Apple Park campus, the buildings are conveniently located near Highways 280 and 85 and accessible to many amenities in close proximity. An executive community, Cupertino is renowned for its highly acclaimed school district.
The seller was Real Estate Trust at Silicon Valley Community Foundation. Tenny Tsai with Cushman & Wakefield’s San Jose office represented the buyer in the transaction.
“This portfolio presented a rare, secure asset with strong, long-term credit tenancy in a very desirable Cupertino location, which appealed greatly to my client as a long-term investment,” said Tenny Tsai, who has served as PMP Tech’s exclusive broker representative since 2012 and has worked with the group on several asset acquisitions. “PMP Tech has remained bullish on U.S. real estate, and particularly assets with credit tenants in top performing markets such as Silicon Valley.”
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