SAN JOSE, CA-Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that a 16 office and R&D buildings totaling 508,946 square feet has changed hands. Menlo Park, CA-based Lane Partners purchased the portfolio which was 94% leased to a diverse tenant roster including Apple, which leases 33% of the portfolio's net rentable area.
Although CBRE, which marketed the sale of the Sunnyvale Office/R&D Portfolio, which is primarily located in the Peery Park submarket within Sunnyvale, CA says it cannot disclose the purchase price at this time, industry sources put the price around $120 million.
The seller, according to CBRE, was a “global investment manager,” but our sources say the seller was RREEF Funds.
The CBRE marketing team was comprised of Joseph Moriarty, EVP; Russell Ingrum, vice chairman/managing director; Sean Sullivan, EVP; Tyler Meyerdirk, vice president; and Brad Zampa, EVP.
Check back with GlobeSt.com for more on this story.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
