January 19, 2018 Comments Off on Silicon Valley Office Campus Trades for $113M Views: 2350 Bay Area, California News

Silicon Valley Office Campus Trades for $113M

Santa Monica, CA-based Vista Investment Group, in joint venture with an unnamed institutional money management firm, acquired Vasona Technology Park, a 314,256-square-foot office property in Campbell, CA from The Carlyle Group for $113 million. The 100%-leased asset is home to the Kaiser Foundation Health Plan and ChargePoint.

Vista’s Jonathan Barach says, “This is our fourth, and probably most exciting project in the Silicon Valley. The property is anchored by investment-grade tenants with long-term leases, and will benefit from both interior and exterior improvements, which we will implement as leases expire over the next several years.”

The property features seven freestanding one and two-story office and R&D buildings, ranging in size from 16,000 to 74,000 square feet. Developed in 1963 and 1981, the asset is located on an 18.5-acre site bordered by Winchester Blvd., E Hacienda Ave. and Dell Ave.

Cushman & Wakefield’s Eric Fox marketed the property for the seller.

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