News release

Sale of mission-critical R&D facility in Silicon Valley completed

JLL Capital Markets led the sales efforts for 825 Stewart Dr. in Sunnyvale, California, which is fully leased to a global technology company

August 30, 2023

Kristen Murphy

Capital Markets, Hotels & Hospitality and Value & Risk Advisory PR
+1 617 848 1572

SILICON VALLEY, Aug. 30, 2023 –  JLL Capital Markets announced today the sale of 825 Stewart Dr., a mission-critical, fully leased R&D facility totaling 75,350 square feet in Sunnyvale, California.

JLL represented the seller, GI Partners, and procured the buyer, BGO.

825 Stewart Dr., which was most recently renovated in 2015, is 100% leased to an American multinational technology company, which has also invested significant capital into the building infrastructure. The two-story building offers highly specialized lab improvements and 242 surface parking spaces.

The facility is positioned on 4.3 acres just minutes from the tenant’s larger Cupertino headquarters in Silicon Valley. 825 Stewart Dr. offers superior access throughout the San Francisco Bay Area being located close to the Central and Lawrence Expressways and Highways 237 and 101. Additionally, the property is less than two miles from the Sunnyvale Caltrain station and the Lawrence Caltrain station. Sunnyvale is close to many of the area’s executive housing communities, including Los Altos Hills, Woodside, Hillsborough, Atherton and Palo Alto.

The JLL Capital Markets team representing the seller was led by Will Connors, Daniel Renz, Michael Manas, Cheri Pierce, Kendall Willet and Aisling Duffy.

"The successful sale of 825 Stewart Dr. underscores the importance of mission-critical infrastructure and power in today's capital markets environment,” said Manas. “The specialized lab improvements, coupled with the tenant's significant capital investments, created a compelling value proposition and competitive buyer pool.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.                                          


About GI Partners

Founded in 2001, GI Partners is a private investment firm with over 150 employees and offices in San Francisco, New York, Dallas, Chicago, Greenwich, Scottsdale, and London. The firm has raised more than $40 billion in capital and invests on behalf of leading institutional investors around the world through its private equity, real estate, and data infrastructure strategies. The private equity team invests primarily in companies in the healthcare, services, and software sectors. The real estate team focuses primarily on technology and life sciences properties as well as other specialized types of real estate. The data infrastructure team invests primarily in hard asset infrastructure businesses underpinning the digital economy. For more information, please visit gipartners.com

 

About BGO

BGO is a leading, global real estate investment management advisor, real estate lender, and a globally recognized provider of real estate services. BGO serves the interests of more than 750 institutional clients with expertise in the asset management of office, industrial, multi-residential, retail and hospitality property across the globe. BGO has offices in 28 cities across fourteen countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients in primary, secondary and co-investment markets. BGO is a part of SLC Management, which is the institutional alternatives and traditional asset management business of Sun Life.

 

About JLL

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 105,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.