SAN JOSE—Silicon Valley was named the tech market that is most resilient and poised for future growth, according to a recent CBRE report. With its office market dominated by large-cap tech firms, Silicon Valley had the fourth-greatest office rent growth and the sixth-greatest office net absorption as of the fourth quarter of last year.
With that top billing in mind, investors are continuing to gravitate to the Valley and Thor Equities is no exception. Thor secured $31 million in financing for 350 Holger Way, a 96,502-square-foot class-A office building. The CBRE capital markets' debt and structured finance team led by Brad Zampa and Mike Walker arranged the fixed-rate financing on behalf of the borrower.
Wells Fargo provided a 10-year full-term interest-only loan and a competitive interest rate. Joe Moriarty, Russell Ingrum, Scott Prosser and Jack Depuy of CBRE represented the seller in the transaction that closed at year-end.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
