Silicon Valley R&D Facility Fully Leased to Jawbone Changes Hands For $14.45 Million

Sale Marks Second Highest Price Per Square Foot Paid for R&D Facility in Silicon Valley

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Apr 02, 2015, 06:30 ET

SUNNYVALE, Calif., April 2, 2015 /PRNewswire/ -- Transwestern today announces it negotiated the sale of the 39,311-square-foot research and development/flex facility located at 674-678 W. Maude Ave. in Sunnyvale, California. Transwestern Senior Vice President Michael Cisternino represented the seller, Ben London of London Management Corp., a New York-based family office, in the $14.45 million sale to Sand Hill Property Co. This sale marks the second highest price per square foot paid for an industrial/research and development building in the Silicon Valley.

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"At $367.58-per-square-foot, London Management Corp. achieved top of the market value," said Cisternino. "Sand Hill Property has acquired a high-quality asset in a Silicon Valley submarket that has considerable potential and is now seeing renewed interest from investors. The 100-percent triple-net leased Jawbone facility is located directly across the street from LinkedIn headquarters in the highly coveted Peery Park submarket of Sunnyvale."

Colliers International represented the buyer, Sand Hill Property, in the transaction.

ABOUT TRANSWESTERN
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, research and sustainability. The fully integrated global enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. As a member of the Transwestern family of companies, the firm capitalizes on market insights and operational expertise of independent affiliates specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. For more information, please visit transwestern.com and follow us on Twitter: @Transwestern and @TranswesternSF.

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SOURCE Transwestern