Stewart

The property is a single-storey office and R&D building located a few blocks from Apple’s “second spaceship” campus and close to many other blue chip technology companies such as Google, Microsoft, Twitter, Intel and Yahoo. Due in part to their presence, Sunnyvale is one of Silicon Valley’s most desirable locations.

During the acquisition, the property was 100% leased to a NYSE-listed company operating in the biopharmaceutical sector, with a contract expiring in January 2023 and with rents well below market rates. An early exit of the tenant has been negotiated, and it is planned that in 2023 the property will be renovated and repositioned on the market at more attractive economic conditions for the investor.