A joint venture of Graymark Capital and Ascent Real Estate Advisors, LLC has acquired a two-building creative Office/R&D project totaling ±85,350 square feet in Sunnyvale from Sycamore Lake Partners.
The larger of the properties is a high-image freestanding ±66,725 square foot Creative Office/R&D building located at 555 E. California Avenue that is comprised of newly-renovated creative office and manufacturing/lab space and features high-end interiors. That property was nearly 50% leased at the time of sale.
The smaller property is a freestanding ±18,805 square foot Creative Office/R&D building located at 209 N Fair Oaks Avenue comprised of creative office with lab space and features a newly added glassline. That property was fully vacant at time of sale. The project—once the headquarters of Valin Corporation prior to the company relocating in 2012— is very conveniently located at the intersection of Central Expressway and N Fair Oak Avenue and E California Avenue.
Mike Connor, Michael Speers and Annie Micco of Cassidy Turley represented the seller in the transaction. Additionally, Terry Daly and Kurt Scheidt of Cassidy Turley’s Debt/Mortgage Services assisted the buyer in securing acquisition financing.
Connor, Micco and Nick Lazzarini also with Cassidy Turley have also been retained by Graymark Capital / Ascent Real Estate Advisors for brokerage leasing services. The team is currently marketing ±31,325 square feet for lease at 555 E California and the full ±18,805 square feet for lease at 209 Fair Oaks.