(image courtesy of CoStar)
Fully leased to a leading global tech company, the single-tenant portfolio totals 136,105 square feet and sold for $98 million. The seller was Real Estate Trust at Silicon Valley Community Foundation.
Tenny Tsai, Senior Managing Director with Cushman & Wakefield’s San Jose office represented the buyer in the transaction.
“This portfolio presented a rare, secure asset with strong, long-term credit tenancy in a very desirable Cupertino location, which appealed greatly to my client as a long-term investment,” said Tenny Tsai, who has served as PMP Tech’s exclusive broker representative since 2012 and has worked with the group on several asset acquisitions. “PMP Tech has remained bullish on U.S. real estate, and particularly assets with credit tenants in top performing markets such as Silicon Valley.”
Established for more than 40 years, PMP Tech is a leading product supplier to many major multinational clients all over the world. With the philosophy of giving back from where you earned, PMP Tech continues to share its business success to the society. Through real estate investment, PMP Tech is able to create stable cash income whereby also creating the sustainability for its charitable ability. The founder of the group also believes that “education is the most important and valuable investment. Therefore, PMP Tech will continue to use its charitable funds to support education and support innovative research to enhance human well-being.”
The Cupertino portfolio consists of a cluster of six single-story office/R&D buildings located at 20650 Valley Green Dr, 20700-20730 Valley Green Dr, 20740 Valley Green Dr, 10627-10629 Bandley Dr, 10231 Bubb Rd, and 10341-10351 Bubb Rd. Situated near Apple’s 1 Infinite Loop campus and a short distance from its new Apple Park campus, the buildings are conveniently located near Highways 280 and 85 and accessible to many amenities in close proximity. An executive community, Cupertino is renowned for its highly acclaimed school district.