Equus Capital Partners has sold Walsh Bowers, a two-building office/R&D portfolio totaling 108,459 square feet in Santa Clara, Calif., to an affiliate of GI Partners, for $41.5 million.
The property consists of two parcels totaling 6.31 acres. The Walsh Bowers buildings, built in 1975 and 1980, are located in Silicon Valley’s highly sought after “Golden Triangle.” The property is bordered by Highway 101, Interstate 880 and California 237, which provide excellent regional access throughout the Silicon Valley. Walsh Bowers has great corner visibility from Bowers Avenue and Walsh Avenue.
“At the time of our 2017 acquisition, we envisioned this investment as a classic “covered land play,” and as a result sought to maintain short term occupancy to generate current income while limiting lease terms to unencumber the land parcels to enable a successful redevelopment and capture significant density upside,” commented Robert Butchenhart, vice president for Equ
