Drawbridge Realty Pays $193.3MM for 157,000 SQFT Sunnyvale Property Leased to Uber  

Sunnyvale Drawbridge Realty Uber Silicon Valley 200 S. Mathilda JP Morgan Eastdil Secured KKR Global Atlantic

(EDITOR’S NOTE: According to public documents referenced in a report by the San Jose Mercury News, the property traded for $193.3 million, or just around $1,231 per square foot. Real estate leasing database Compstak lists the lease to Uber expiring in 2031.)

Sunnyvale, CA – November 3, 2022   Drawbridge Realty, an investor in strategically important corporate facilities nationwide, has acquired 200 S. Mathilda Avenue, a five-story Class A office/engineering building and parking structure in downtown Sunnyvale which is fully leased to global ride-sharing firm Uber (NYSE: UBER). The seller was JP Morgan, which was represented by Eastdil Secured. 

200 S. Mathilda was completed in 2010 and totals 157,000 s.f with subterranean parking. Uber leased 200 S. Mathilda as an engineering ‘hub’ location as part of its Bay Area global headquarters.  

“This is a highly appealing Silicon Valley asset leased long-term with a strong tenant in place in an area that continues to attract companies because of the deep regional talent pool, especially in engineering,” said Charlie McEachron of Drawbridge Realty. “It possesses all of the transit and amenity benefits of a CBD asset in a highly-populated suburban location,” he added. 

The transit-oriented, LEED Silver-certified building sits in a neighborhood just a five-minute walk from Sunnyvale’s Caltrain station and is surrounded by extensive residential, retail and lifestyle amenities including several thousand recently constructed multifamily units, as well as a variety of restaurants, cafes, retail stores and parking.   

“200 South Mathilda is truly transit-friendly, situated very close to Caltrain but with excellent parking and easy access to communities throughout the Peninsula and greater Bay Area,” said Jaden Rosselli, Assistant Vice President of Investments and Asset Management.  

This is Drawbridge’s third major acquisition this year. The company earlier completed the acquisition of Aimbridge Hospitality’s headquarters in Plano, Texas as well as the headquarters building leased to Arrow Electronics in the Denver suburb of Englewood. In addition to these major acquisitions, Drawbridge has also executed nearly one million square feet of leases in 2022, including three 15-year leases with major corporate tenants.  

In the first quarter, Drawbridge completed a $1.7 billion portfolio recapitalization with Global Atlantic, a subsidiary of KKR. 

About Drawbridge Realty 

Drawbridge Realty is a San Francisco-based real estate investment company focused on acquiring, developing and managing commercial property investments in high-growth technology and innovation-driven markets across the U.S. Its portfolio primarily consists of strategically important office and research properties leased long-term to large corporations. Drawbridge has a successful history of creating value for corporate clients and investors and has completed transactions involving major companies including Apple, Arrow Electronics, Bayer, Broadcom, IBM, Google, Johnson & Johnson, L3Harris Technologies, Lockheed Martin, Medtronic, Myriad Genetics, NI, Northrop Grumman, SAIC, and Take-Two Interactive. www.drawbridgerealty.com

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