Equity Office Properties has sold two of its business complexes located in San Jose and Sunnyvale, CA to two separate institutional investors. According to a CoStar report, the portfolio totals nearly 1 million square feet of space that traded for an estimated $359 million. CBRE's Joseph Moriarty, Mark Schmidt, and Bob Steinbock in San Jose represented Equity Office Management in the two deals.
Deutsche Bank's Deutsche Asset & Wealth Management (formerly Rreef) purchased Oakmead West, a seven-building, 431,490-square-foot campus near the intersection of Highway 101 and Lawrence Expressway in Sunnyvale, according to a deed filed Wednesday. In a separate deal that closed Thursday, KBS Realty Advisors picked up the eight-building, 615,233-square-foot Corporate Technology Centre, near the intersection of Highway 237 and Zanker Road in North San Jose. The property contains seven office/R&D buildings and one Tier III data center, according to a Silicon Valley Business Journal article.
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