Via NKF Capital Markets, Northwestern Mutual Life Insurance and McCarthy Cook have acquired Castro Station, a three-building class A office campus totaling 114,809 square feet in downtown Mountain View, Calif. A sales price was not disclosed; however, TheRegistry said that according to public documents cited in a San Jose Mercury News report, the sale closed at $179.7 million.
Castro Station is prominently located with frontage on West Evelyn Ave., adjacent to Caltrain and within walking distance to the abundance of Castro St. amenities. Built in phases between 2000 and 2014, the three buildings — 100, 150 and 200 West Evelyn Ave. — are situated on approximately four acres of land. It is 94 percent leased to seven tenants, anchored by Dropbox, which recently occupied the entire 200 West Evelyn building after a state-of-the-art creative office build-out.
“Castro Station is a generational Mountain View asset, providing scale and direct access to both Caltrain and a diverse amenity base,” said NKF Capital Markets vice chairman Steven Golubchik.
The office campus features parking with a three-story below-grade parking garage with 244 stalls and 102 surface-level stalls.
NKF Capital Markets vice chairman Steven Golubchik, executive managing director Edmund Najera, senior managing director Tyler Meyerdirk and senior analyst Darren Hollak represented the seller, TH Real Estate, in the transaction to the buyer, Northwestern Mutual Life Insurance and McCarthy Cook.
NKF Capital Markets is operated by Newmark Group and is a commercial real estate advisory firm. Newmark Group is a publicly traded subsidiary of BGC Partners, a global brokerage company servicing the financial and real estate markets.
