Tishman Speyer closes sale of Silicon Valley office campus to CommonWealth Partners

Tishman Speyer has sold an office campus in Sunnyvale, Calif., to CommonWealth Partners.

Tishman Speyer acquired the campus, located on Crossman Drive in the desirable Moffett Park neighborhood, from NetApp in April 2021 for $356 million. Just seven months later, the company leased the entire property to Meta, the year’s largest new private sector office lease in the United States. Meta’s 719,037-square-foot lease includes four modern office buildings, two parking structures and ample outdoor recreational space.

The acquisition brings CommonWealth Partners’ holdings in the Moffett Park/Sunnyvale market to more than 1.25 million square feet of LEED Gold/Platinum trophy office space. Established in California in 1995, CommonWealth Partners has a long and successful history of ownership in Silicon Valley and strong local ties in the market, as illustrated by its recently executed lease renewal of international law firm Wilson Sonsini Goodrich & Rosati at 650 Pag