Ellis Partners Pays $13.5MM for 25,000 SQFT Industrial Asset in Santa Clara

(EDITOR’S NOTE: According to sources familiar with the transaction, the property was sold for $13.5 million, or about $540 per square foot. The seller in the transaction, who is also the tenant, was UNIXSurplus, an established wholesaler of servers, storage units, components and network equipment. This company was represented in the transaction by Kidder Mathews.)

San Francisco, CA – Today, Ellis Partners announced the acquisition of 3060 Raymond in Santa Clara, CA. This industrial building is located within the most vibrant data center market in the country. The purchase price was not disclosed.

Ellis Partners has simultaneously entered into a long-term full building lease with Colovore LLC, a high-performance colocation data center provider. This 25,000 square foot building will be renovated and adapted by Ellis to suit Colovore’s needs.

“We are thrilled to add this data center asset to our long-term portfolio,” said Kevin Bocci, Vice President, Acquisitions. “We are thrilled to be partnering with the Colovore team to deliver their second facility in Santa Clara.”

About Ellis Partners:

Ellis Partners is a privately-owned commercial real estate investment and development company founded in San Francisco in 1993. Working with a small group of long-standing private and institutional partners, the firm has successfully acquired and developed assets valued at over $3.5 billion. Ellis Partners has a long track record of success in the acquisition, entitlement, development, renovation and repositioning of office, industrial, retail, residential and mixed-use properties in Northern California.

West Coast Commercial Real Estate News