Irvine Company Spends $136M for Santa Clara Office and R&D Park

SANTA CLARA, CA—Tech Park at Freedom Circle, a 12-building, class A, office and research and development park here has been acquired by the Irvine Company for $136.5 million. HFF represented the seller, Legacy Partners, who purchased the asset in a joint venture with AllianceBernstein’s Real Estate Group in 2013.

The 12 one- and two-story, steel-reinforced buildings that comprise the property are located on 25.74 acres at 2518-2560 Mission College Boulevard and 3900-3990 Freedom Circle in the center of Silicon Valley. Leasable space is approximately 427,873 square feet. The property sits at the intersection of Highway 101 and Great America Parkway within walking distance to Santa Clara Valley Transportation Authority bus service for easy connection to light rail.  Park amenities include an outdoor bocce ball court, outdoor collaborative meeting areas, on-site café with corporate catering, electric vehicle charging station and tree-lined walkways with quiet sitting areas.  The park is 95% leased to 28 tenants in the telecommunications, hardware manufacturing, software programming, networking, publishing and biotechnology/life sciences sectors.