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Lane Partners Closes on 508,946-SF Portfolio

SAN JOSE, CA-An industry source tells GlobeSt.com that the 16 office and R&D building portfolio fetched near $120 million and that the seller was RREEF Funds.

By Natalie Dolce | Updated on December 18, 2013

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.

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