A joint venture between certain affiliates of Westport Capital Partners and Cannae Partners has sold the Sycamore Technology Center in Milpitas, Calif. The campus comprises three office/R&D buildings totaling 213,519 square feet and sold for $45.5 million.
Vertical Ventures acquired the asset.
“Even during COVID-19, Silicon Valley commercial real estate remains highly desired by investors due to its position as a major innovation hub poised to rebound quickly. This sale is one of the first value-add deals to close escrow since the shelter-in-place commenced, indicative of the optimism around the region's economic future,” said Eric Fox, Executive Managing Director. “Sycamore Technology Center is home to innovative tenants including those in the medical technology industry, which has proven to be highly desirable through the pandemic.”
Fox added, “With freeway identity, strong in-place cash flow, and upside potential, Sycamore Technology Center pres
