Santa Clara County’s Top 10 Largest Commercial Real Estate Deals of 2014

Silicon Valley remains one of the hottest investment markets in the country. The strong economy fueled by the tech sector’s rebound, along with high demand and shrinking inventories, have driven real estate prices up for both multi-family and commercial properties.

To see which deals rocked Santa Clara County’s real estate scene and who the major players in the industry were in 2014, PropertyShark crunched the numbers and we’re ready to reveal the winners. The top 10 deals, which include transactions closed last year, totaled almost $1.5 billion, with the laurels divided between office, industrial and multi-family properties.

In one of last year’s largest commercial deals, Campbell’s Pruneyard Shopping Center changed hands for approximately $267 million. The sale of the 27-acre mixed-use property at 1875 S Bascom Ave was finalized on October 21, PropertyShark data records show. The Pruneyard, which is one of the most popular open-air, mixed-use developments in the South Bay, features over 365,000 square feet of office space, over 250,000 square feet of retail space and a 171-key hotel.

The Pruneyard is well-positioned for growth, according to its new owner, Ellis Partners, who plans to implement several upgrades to the facility which will result into better walkability and an enhanced visitor and tenant experience. The property is situated in close proximity to Campbell’s thriving downtown, and is easily accessible from some of Silicon Valley’s highest profile residential neighborhoods including Willow Glen, Los Gatos, Saratoga, Cupertino, and Los Altos. Key tenants of the Pruneyard include Marshall’s, Sports Basement, Trader Joe’s, and Camera Cinemas.

Google Inc.is the runner-up in our top 10 deals list with its purchase of a 4-building portfolio in Mountain View, CA for $250 million. The deal was one of several acquisitions completed by the Internet giant in Mountain View over the last 3 years. According to San Jose Mercury News, Google has bought about 24 office buildings in the area since 2011, and is set on further growth.

Here is the complete list of Santa Clara County’s top 10 commercial real estate deals of 2014. Click on an address in the table below for a detailed property report.