By Kate Snyder
With several recent transactions recorded, Sunnyvale continues to be a place of sales activity. One deal involved an office and research building trading hands for $31 million, or approximately $230 per square foot, according to a report by The Mercury News. The seller was Fujitsu North America, and the buyer was an entity affiliated with PSAI Realty Partners, a real estate investment agency based in San Francisco.
The property is located at 350 Cobalt Way and consists of a two-story building totaling 123,600 square feet. The building was constructed in 1978 and sits on just over eight acres, property records show. Nearby businesses include NVIDIA Corporation, Akamai Technologies and Quantum Intelligence, Inc. The property is south of the 101 and just east of the Lawrence Expressway, with San Jose less than 10 miles away.
Fujitsu North America, Inc. is a wholly-owned subsidiary of Fujitsu Limited, according to the firm’s website. Fujitsu Limited is an information technology and electronics company headquartered in Japan.
Sunnyvale has seen a number of sales recorded in the past six months.
Last September, Apple expanded its base in the Silicon Valley city when it acquired a 58,200 square foot office building for $46.5 million, or nearly $800 per square foot, according to previous reporting by The Registry. The property was sold by Harvest Properties and Invesco Real Estate. The one-story building is located at 470-474 Potrero Ave.
In a larger and more recent transaction, Union Investment purchased LinkedIn’s Sunnyvale for $222 million from a joint venture between Harvest Properties and Invesco Real Estate. The three buildings are located at 684, 810 and 870 W. Maude Ave. In another large transaction, Drawbridge Realty purchased from JP Morgan a 157,000 square foot property leased to Uber for $193.3 million, or just around $1,231 per square foot. That property is located at 200 S. Mathilda Ave.