Rialto Capital Management has acquired 650 Clyde Court, a 34K SF office/R&D property in Mountain View. The firm will partner with Graymark Capital to completely renovate the property into a creative office to attract the technology-related tenants of Silicon Valley.
“Silicon Valley is one of the strongest office/R&D markets in the country and Mountain View is one of the tightest submarkets in the Valley,” Graymark Chief Operating Officer and Chief Financial Officer Jeff Hoppen said.
The property is near the new Samsung Research America buildings and surrounded by the likes of Google, Symantec and LinkedIn.
Constructed in 1987 for the prior owner, an industrial distributor, 650 Clyde has access to public transportation with a shuttle that connects to the Mountain View Caltrain station. It sits at the nexus of highways 101, 237 and 85.
Improvements will include a new facade, rollup doors, an improved glass exterior, modern landscaping and an indoor/outdoor patio area.
Graymark also has invested in eight assets in Mountain View over the past few years. The 650 Clyde sale was brokered by Cushman & Wakefield Vice Chairman Kalil Jenab and Managing Director Nick Lazzarini.
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