SILICON VALLEY, Aug. 30, 2023 - JLL Capital Markets announced today the sale of 825 Stewart Dr., a mission-critical, fully leased R&D facility totaling 75,350 square feet in Sunnyvale, California.
JLL represented the seller, GI Partners, and procured the buyer, BGO.
825 Stewart Dr., which was most recently renovated in 2015, is 100% leased to an American multinational technology company, which has also invested significant capital into the building infrastructure. The two-story building offers highly specialized lab improvements and 242 surface parking spaces.
The facility is positioned on 4.3 acres just minutes from the tenant's larger Cupertino headquarters in Silicon Valley. 825 Stewart Dr. offers superior access throughout the San Francisco Bay Area being located close to the Central and Lawrence Expressways and Highways 237 and 101. Additionally, the property is less than two miles from the Sunnyvale Caltrain station and the Lawrence Caltrain station. Sunnyvale is close to many of the area's executive housing communities, including Los Altos Hills, Woodside, Hillsborough, Atherton and Palo Alto.
The JLL Capital Markets team representing the seller was led by Will Connors, Daniel Renz, Michael Manas, Cheri Pierce, Kendall Willet and Aisling Duffy.
"The successful sale of 825 Stewart Dr. underscores the importance of mission-critical infrastructure and power in today's capital markets environment," said Manas. "The specialized lab improvements, coupled with the tenant's significant capital investments, created a compelling value proposition and competitive buyer pool."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL's newsroom.
Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.
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Jones Lang LaSalle Inc. published this content on 30 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2023 17:48:25 UTC.
