Mission West Acquires 625,000-SF Tech Park for $110M

SANTA CLARA, CA-An affiliate of Blackstone Real Estate Advisors has sold the 625,000-sf San Tomas Technology Park in Santa Clara for $110 million. The buyer was Mission West Properties, which owns 108 properties in the Silicon Valley totaling 7.83 million sf.

The 36-acre, seven-building development is located at the intersection of Central Expressway and San Tomas Expressway. The project is 90% leased and includes three single-story tilt-ups, a pair of two-story buildings and one three-story building.

NEC Electronics America Inc.’s headquarters leases 355,000 sf in three buildings or 57% of the project. JDS Uniphase Corporation leases one building for a total of 46,000 square feet or 7% of the project. Ray Marino of Mission West tells GlobeSt.com the vacancy consists of an empty two-story building comprising 63,000-sf.