The 7-building research and development campus of Oakmead West, located in Sunnyvale, was recently purchased by Houston real estate developer Hines. This, just weeks purchased a seven-building research and development campus in Sunnyvale, California, betting on the long-term prospects for the market just weeks after divesting a high-profile office property about 40 miles away in downtown San Francisco.
Hines, based in Houston, purchased the Oakmead West campus, which is located at 920-960 Stewart Drive and 490 and 510 DeGuigne Drive. The property sits on on nearly 22 acres, and the campus comprises 431,095 sq ft of research and development space.
The amount of the sale was undisclosed. The campus is 96% leased.
