Hines acquires seven-building multi-tenant campus in California

Hines, the international real estate firm, has acquired Oakmead West, a seven-building, multi-tenant campus in the heart of Silicon Valley. A price was not disclosed.

The seven class A office/R&D buildings totaling 431,095 square feet are situated on 21.62 acres in Sunnyvale, California.

Oakmead West will undergo capital improvements including tenant interiors, landscaping, signage & wayfinding, and exterior collaboration areas. This investment will further activate the campus to create a sense of community for the tenants.

Hines senior managing director George Clever said, “We were attracted to this property due to its strong tenancy, excellent access and long-term prospects for this emerging Sunnyvale submarket. The excellent location and exceptional tenant base are a perfect complement to our existing portfolio.”

Oakmead West is currently 96 percent leased to a diverse tenant roster, which includes Trimble Navigation, ShoreTel and AbbVie.