Deets on Sunnyvale R&D Sale
Newport Beach-based Irvine Co continues to dominate a sliver of Sunnyvale, with the purchase of five office and R&D buildings totaling 113k SF in the Peery Park submarket. The portfolio was 95% leased. The seller was Arden Realty, repped by CBRE. Irvine's already got an existing Sunnyvale portfolio nearby, and this expansion is part of a long-term investment in Silicon Valley, according to CBRE. The buildings sit at 323 N Mathilda, 755 N Mary, 617 Palomar, 720 Palomar and 840 Del Rey and range from 20k SF to 33k SF. Heavy-hitter neighbors include Google, Apple and LinkedIn.