The portfolio consists of four single-story buildings totaling 109,779 square feet and was acquired by a Private High Net Worth Investor. The seller was Graymark Capital in partnership with a major real estate private equity fund, which had acquired the properties in 2017 under Graymark’s Medium Term Net Lease Program. The buildings are fully leased to a single global tech company.
Cushman & Wakefield’s Northern California Capital Markets group of Eric Fox, Steve Hermann, Adam Lasoff, Seth Siegel, and Ryan Venezia represented the seller in the transaction.
“This was a highly attractive investment opportunity supported by a long-term lease to a strong credit tenant, located in the consistently top-performing and leading submarket of Cupertino,” said Eric Fox, Executive Managing Director. “Following a brief pause in the capital markets sector immediately following the shelter-in-place order in California, we have seen a resurgence of interest from investors in Silicon Valley, one of the nation’s strongest real estate markets—and particularly for stable properties with credit tenancy.”
Located at 10300-10460 Bubb Rd, the buildings provide immediate accessibility to Highway 85 near the Highway 280 interchange. There are also numerous amenities within close proximity. Cupertino has long been characterized by high-income housing for executives, award-winning public schools, historically low vacancy, as well as high barriers of entry for development. The city is also home to many cutting-edge tech companies, including the corporate headquarters of Apple, Inc.
