The 320,000-sf manufacturing and flex-office park was developed last year by Legacy Partners for $23 million. It is located at 3200-3280 Whipple Road. Joe Fabian of BT Commercial represented both the seller, Principal Capital Management LLC, and the buyers, Syme Family Partners and Nearon Enterprises.
Before the park was completed, it was already fully leased. Tenants were reportedly eager to take advantage of some of the Peninsula's cheaper rental rates, some as low as 80 cents per sf per month, triple net. Some of the park's tenants include Abaxis Inc., a bioscience firm which occupies 90,000-sf in Crossroads, Telogy Inc., which occupies 89,000-sf, and Axon Instruments, which takes up 75,000-sf.
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