SANTA CLARA, CA-In the latest episode of an aggressive buying office spree throughout California, DivcoWest has acquired a portfolio of five low-rise buildings in this Silicon Valley city. Known as the Walsh @ Bowers portfolio, the 251,000-square-foot portfolio is located on Walsh and Bowers Avenues in Santa Clara.

The seller was RREEF Funds, which was represented in sale negotiations by Eric Fox of Cassidy & Turley’s Santa Clara office. Deal terms were not disclosed, although office space (in smaller buildings) in Silicon Valley have recently traded in the $150-$200 range per square foot.

The location of all five properties near State Highway 101 was a key selling point, according to a statement by DivcoWest chief executive Stuart Shiff.  Additionally, the variety in building sizes allows the new owner to market the buildings to a wide array of potential tenants, including start-ups, light manufacturing operations to corporate users.

The total occupancy of the five buildings is 70%, strongly hinting that the deal was a value-added play. Tenants in the portfolio include Evans Analytical Group, Hanwha Solar and the Institute for Business & Technology, each of which occupies its own building. A vacant 55,000-square-foot building will be “actively marketed for lease,” according to a Divco statement, while two other buildings, both occupied and experiencing what Divco described as “stable cash flow,” are to be offered for sale in early 2012.

In July, Divco took an ownership position in Quadrus, an office complex located on Sand Hill Road in Menlo Park, CA.  In October, the company closed on the purchase of 1275 Market St., a 17-story high rise in San Francisco, Genesee Executive Plaza, an office/medical office campus in San Diego’s UTC/La Jolla submarket and Howard Hawthorne, a two-building office complex with a five-level parking structure located in San Francisco’s SoMa district.