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Flextronics Sells Campus to Denver REIT

SAN JOSE-Dividend Capital Total Realty Trust Inc. pays $21 million for a 177,749-sf office/R&D park here that is 100% leased to the seller, publicly held Flextronics.

By Brian K. Miller | Updated on October 02, 2006

(To read more on the industrial market, click here.)

SAN JOSE-Publicly held Flextronics has sold and leased back its three-building office/R&D complex here in a transaction with Dividend Capital Total Realty Trust Inc., a Denver-based REIT. The total acquisition cost for the 177,750-sf complex was $21.1 million.

Located at 2241-2245 Lundy Ave., the property is known as Lundy Avenue Research Park. It consists of three buildings ranging in size from about 40,000 sf to about 74,000 sf. Flextronics leased back 100% of the complex as part of the transaction and will self-manage the property.

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