CBRE Arranges the $12.95MM Sale of Sun Technology Park in Santa Clara, CA

CBRE, Sun Technology Park, Santa Clara, Silicon Valley, Bay Area, Dick Lee Corporation, SST Investments LLC

CBRE, Sun Technology Park, Santa Clara, Silicon Valley, Bay Area, Dick Lee Corporation, SST Investments LLC

San Francisco – October 3, 2016 – On behalf of the Dick Lee Corporation, CBRE Capital Markets has arranged the sale of Sun Technology Park, a three-building, 69,753-square-foot industrial/R&D project in Santa Clara, California.

Built in 1986, Sun Technology Park sits on 3.85 acres and consists of three, single-story buildings located at 805, 807 and 809 Aldo Avenue in Santa Clara. The buildings range in size from 22,500 to 24,753 square feet and offer flexibility in design to accommodate various tenants. The property was 98 percent leased at the time of sale.

Scott Prosser, Dave Black, Marshall Hydorn, Jack DePuy and the rest of CBRE’s Bay Area Capital Markets team represented both the seller, the Dick Lee Corporation, and the buyer, SST Investments, LLC in the transaction.

Dick Lee Corporation had owned the property since 1989 according to Scott Prosser, Executive Vice President at CBRE.

“This provided SST Investments the opportunity to acquire a well-established Industrial/R&D project in the heart of Santa Clara,” said Prosser.

Sun Technology Park is conveniently located near Highway 101, just off Montague Expressway and is in close proximity to the San Jose International Airport.

Santa Clara continues to be a very desirable market for both tenants and investors. Major new developments recently completed or in the planning stages include Levi’s Stadium, Santa Clara Square and City Place Santa Clara.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.

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