SAN FRANCISCO, CA – November 13, 2012 — DivcoWest announced it has completed the sale of 400 Logue, a single-story office/R&D building totaling 42,200 rentable square feet situated on 2.55 acres in Mountain View, California.
400 Logue was sold to an individual and terms of the transaction were not disclosed.
400 Logue is located in one of the most highly desired markets in Silicon Valley. The building is 100 percent leased to Coupons, Inc., the leading U.S. provider of consumer printed coupon marketing and technology solutions and operator of Coupons.com, the 39th largest website in the U.S.
Coupons Inc. has used the building as its corporate headquarters since signing a lease with DivcoWest in 2006. The digital coupon provider has expanded its operations in the area since that time, and also occupies two nearby properties.
DivcoWest acquired 400 Logue in September 2006 for Market Street Capital Partners, its second realestate investment fund.
“Core properties leased to strong, stable tenants such as Coupons remain attractive to investors seeking Silicon Valley assets. We are sad to lose Coupons.com as a tenant because they have been excellent to work with, but we are delighted for our investors to realize the additional value created in this asset,” said Stuart Shiff, CEO and founder of DivcoWest.
Founded more than 18 years ago in Northern California, DivcoWest has become one of the nation’s leading fully integrated real estate investment and management firms. DivcoWest has acquired more than 25 million square feet of high-level commercial space in locations throughout the US. The company has offices in San Francisco and Boston. www.divcowest.com