CBRE Secures $120M For Cupertino City Center Project
CBRE has secured $120M from HSBC for two buildings in Cupertino. A JV between Sand Hill Property Co and its capital partner will use these funds in building out Main Street Cupertino, a project the city hopes to be hub of town life.
The variable interest rate loan was secured with the help of CBRE’s John Nelson and Erik Franks, based out of the company’s San Francisco offices. John says the project will attract a variety of tenants. “The project’s central location and ambiance will make it highly sought after by office, retail and residential tenants, as well as hotel guests. Sand Hill Property Co is creating an iconic project; the central gathering place for Cupertino.”
Main Street Cupertino will hold office, retail, hotel and apartments and act as the Silicon Valley city’s town center. The office component was completed early this year while the retail sections are on track to deliver at the end of this year. Hotel space will follow in 2017.