Rockwood Capital Acquires Office Campus Near Downtown Mountain View Totaling Over 250,000 square feet on 17 acres
SAN FRANCISCO, June 13, 2014 — Rockwood Capital announced today the acquisition of 301-381 E. Evelyn Avenue, a five-building office campus near downtown Mountain View. The 17- acre property is one of only a few large-scale office campuses in Silicon Valley where employees can walk or bike to Caltrain and retail amenities. The well located property is walking distance to downtown Mountain View’s Caltrain station and the Evelyn VTA light rail station, and it provides direct access to the adjacent CA-237 freeway.
Centrally located on the campus is a large landscaped area for tenants to eat, play, and work outdoors. The property also has basketball and volleyball courts, showers, and easy access to the nearby Stevens Creek Trail. Currently, the campus has several tenants, including Mozilla and Coursera, and it was previously occupied as a single tenant campus. Over time, Rockwood anticipates enhancing the campus to add to the appeal of the property.
Jason Oberman, Director at Rockwood Capital, said, “A key foundation of our investment strategy is acquiring and enhancing properties in evolving locations which benefit from close proximity to public transit and surrounding mixed-use amenities. This comes from our belief that these well located properties can help support healthy living, a higher quality of life, and environmental sustainability.”
Rockwood Capital has a long history of acquiring, repositioning and developing transit-oriented office properties in Silicon Valley, including 100 Mayfield Avenue in Mountain View, a 520,000 square foot office property being transformed from the former Mayfield Mall into an office campus; 690 E. Middlefield in Mountain View, a 340,000 square foot build-to-suit development for Synopsys’ global headquarters; University Circle, a 660,000 square foot office campus along University Avenue in E. Palo Alto; and 130 Lytton, a 55,000 square foot office building across from the Caltrain station in downtown Palo Alto.
The seller, a global investment manager, was represented by the Eastdil Secured team of Greg Cioth, Andy Zighelboim, Edmund Najera, Nate Jones, and Tommy Kim.
About Rockwood Capital, LLC
Rockwood Capital, LLC is a real estate investment firm that provides equity capital combined with real estate expertise for repositioning, recapitalization, development and redevelopment of retail, hotel, residential, office and research and development space in key markets throughout the United States. Since 1990, Rockwood and its principals have invested on behalf of their clients approximately $16.1 billion of real estate through nine value-add vehicles and three separate accounts. Rockwood has offices in San Francisco, CA, White Plains, NY, and Los Angeles, CA. Rockwood’s investors include public and private pension funds, endowments, foundations, insurance companies, fund of funds, high net worth individuals and family offices.