November 30, 2015
Sunnyvale Town Center, in the city’s popular downtown area, may be reborn soon. Wells Fargo, owner of the project since 2009, is reportedly planning on selling Sunnyvale Town Center to a joint venture composed of Sares Regis Group, Hunter Properties and J.P. Morgan Asset Management.
Sand Hill Property Co. and RREEF were the original developers, but defaulted on a $108.8-million loan from Wells Fargo.
The Sunnyvale City Council will be reviewing the potential sale on Dec. 10.