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Silicon Valley R&D-Office Goes for $21 Mil

SUNNYVALE, CA-A five-building R&D/office complex in Sunnyvale is sold for $21 million in one of few leased investment property sales in Silicon Valley this year.

By Michelle Savage | Updated on September 14, 2001

SUNNYVALE, CA-A Burlingame-based property management company has acquired an R&D/office complex in Sunnyvale in one of Silicon Valley’s few leased investment property sales seen this year. The 129,512-sf complex was built in 1970 and is located at 1095 East Duane Avenue. The property is 99% occupied with multiple tenants.

Dollinger Properties purchased the five-building R&D/office complex from Pacific Gulf Properties, a real estate investment trust based in Newport Beach, CA. Commercial Property Services agents Steve Pace and Scott Athearn brokered the sale for approximately $21 million. CPM represented both sides in the deal.

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