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Bixby Buys Airport Tech Park for $85M

SANTA CLARA, CA-The 300,000-sf, five-building campus here is 86% leased by two publicly traded companies.

By Brian K. Miller | Updated on September 11, 2007

(Read more on the industrial market.)

SANTA CLARA, CA-Bixby Land Co. of Irvine, CA has acquired the Airport Technology Park here for $85 million. The 300,000-sf, five-building campus here sits on 16.8 acres at 2770-2890 De La Cruz Blvd., across from the San Jose Airport. Two publicly traded companies, Macrovision Corp. and BAE Systems, lease 86% of the two-story complex.

The seller of the park was not disclosed, but is believed to be Westbrook Real Estate Partners, which refinanced the property in February 2007 with a $67-million, three-year, adjustable rate securitized loan from JP Morgan Mortgage Capital, according to Holliday Fenoglio Fowler, which sourced the loan.

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