3111-3141 Coronado Drive Associates, LLC, a joint venture between Bixby Land Company and JP Morgan, announced this week that it had sold an office campus in Santa Clara, California to AEW Capital Management at an undisclosed price. Terms of the deal were not disclosed, though AEW did indicate that both buyer and seller were self-represented in the transaction. AEW acquired the two building campus on behalf of one of its institutional clients.
"This is an opportune time to realize our investment objective following the successful renovation and leasing of the project, said Bill Halford, president and CEO of Bixby Land Company, in a statement. "We set out to create a compelling work environment with the image and high quality amenities sought by today’s companies."
The campus at 3111-3141 Coronado Drive was renovated in 2012, a contemporary redesign that garnered the 2012 Structures Award as Best Reuse/Rehab Project in Silicon Valley by Silicon Valley Business Journal. The 127,000 square-foot campus is 100% leased to Santa Clara-based Infoblox, an eight-year, $25 million deal signed last June.
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