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

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 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.

No. Property Address Sale Price Sale Date Property type Buyer Seller
1 1999 S Bascom Ave, Campbell $267,381,000 Oct 21 Factories CFEP Pruneyard LLC Pruneyard Associates, LLC
1875 S Bascom Ave, Campbell Store Buildings/Retail
1995 S Bascom Ave, Campbell Store Buildings/Retail
1901 S Bascom Ave, Campbell Office & Professional Services
1901 S Bascom Ave, Campbell Office & Professional Services
1901 S Bascom Ave, Campbell Office & Professional Services
2 783 Mountain View Alviso Rd, Mountain View $250,000,000 May 30 Other Vacant Google Inc. Silicon Valley CA-I, LLC
700 E Middlefield Rd, Mountain View Factories
1100 W Maude Ave, Mountain View Factories
Parcel ID 165-38-005 Other Vacant
3 301 E Evelyn Ave, Mountain View $153,929,000 Jun 13 Factories Mv Campus Owner, LLC Sfers Real Estate Corp. U
4 1102 S Abel St, Milpitas $150,000,000 Aug 15 Multi-Family Essex Portfolio, L.P. Milpitas Centria West, LLC
5 3975 Freedom Cir, Santa Clara $148,669,000 March 19 Office & Professional Services Pr 3975 Freedom Circle, LLC, Carr Np Properties L.L.C
6 655 S Fair Oaks Ave, Sunnyvale $122,600,500 May 30 Multi-Family Prometheus Real Estate Group Koret Fow, Lp
7 3051 Tasman Dr, Santa Clara $109,300,000 March 20 Office & Professional Services Lake Park Associates, LLC Lake Marriott, LLC
8 Wolfe Rd, Cupertino $102,500,000 Oct 22 Store Buildings/Retail Vallco Property Owner, LLC Sears, Roebuck And Co
10101 N Wolfe Rd, Cupertino Store Buildings/Retail
10101 N Wolfe Rd, Cupertino Store Buildings/Retail
9 321 Park Ave, San Jose $92,668,500 Aug 11 Office & Professional Services Adobe Systems Incorporated Smbc Leasing And Finance, Inc.
10 225 Humboldt Ct, Sunnyvale $86,814,000 Oct 9 Factories Portfolio Investors, LLC Amb Property, L.P., Prologis, L.P.
1330 Bordeaux Dr, Sunnyvale Office & Professional Services
Amalia Otet

Amalia Otet

Amalia Otet is an online content developer and creative writer for RENTCafé. She loves all things real estate and strives to live beautifully, one green step at a time.

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