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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