Office

MOUNTAIN VIEW, CALIF. — Rockwood Capital has acquired a five-building office campus near downtown Mountain View for a reported $154 million. The 17-acre Mountain View Corporate Center campus is located at 301-381 E. Evelyn Ave. It is one of only a few large-scale office campuses in Silicon Valley where employees can walk or bike to Caltrain and nearby retail amenities. The campus was previously occupied by Hewlett-Packard Co., though it is now home to multiple tenants like Mozilla and Coursera. Like many other Silicon Valley tech campuses, Mountain View Corporate Center provides outdoor amenities like volleyball and basketball courts, along with easy access to nearby trails such as Stevens Creek. Rockwood plans to enhance the property over time. This wouldn’t be the first time the firm has employed this strategy in Silicon Valley. It has a history of acquiring, repositioning and developing transit-oriented office properties in this area. Rockwood transformed the former Mayfield Mall into a 520,000-square-foot office property. It also took 690 E. Middlefield Road and turned it into a 340,000-square-foot, build-to-suit development for Synopsys’ global headquarters, among other transactions. Mountain View Corporate Center’s seller, a global investment manager, was represented by Greg Cioth, Andy Zighelboim, Edmund Najera, Nate …

SAN FRANCISCO – A 128,678-square-foot office building at 3175 Hanover Street in San Francisco has received $86.5 million in acquisition financing. The single-tenant building is located within the Stanford Research Park, which is home to companies like VMware and Hewlett-Packard. The 700-acre Stanford Research Park includes 10 million square feet throughout 160 buildings and facilities. It contains more than 23,000 employees at 150 companies, including Tesla, which uses the park for its headquarters and research facility. The park was originally developed by the adjacent Stanford University in 1951. The building is fully leased to global law firm Cooley LLP. It was acquired by a Sand Hill Property Company joint venture. The non-recourse financing was arranged by John Nelson of CBRE's San Francisco office. It was provided by a Wall Street lender.

MENLO PARK, CALIF. – An unnamed buyer has acquired a 41,933-square-foot office property in Menlo Park for $50 million. The Class A property is located at 200 Middlefield Road, near downtown Palo Alto’s retail core and the Palo Alto and Menlo Park Caltrain stations. The property was originally built in 1967. It underwent a full rebuild in 2012. The building is now fully leased to private equity and technology firms like Summit Partners, Optum Soft, Blackstone and Rubicon. The seller, Menlo Equities, was represented by HFF’s Steven Golubchik, Michael Leggett and John Simerlein, who worked in conjunction with Kevin Cunningham of Cornish and Carey.

LOS ANGELES — Glumac Engineering has signed a 12-year lease for 17,500 square feet of office space in Los Angeles. The building is located at 707 Wilshire Blvd. in Downtown. The firm, which has worked on the Wilshire Grand Hotel and the Shanghai Disneyland, will be relocating this August from an office on nearby 7th Street. Glumac was represented by Joe Faulkner of CRESA Partners. The landlord, Beacon Properties, was represented by JLL’s John McAniff.

SAN DIEGO — River Bank Plaza, a 40,222-square-foot office property in San Diego, has sold to San Diego Unified School District for $5.5 million. The two-building property is located at 3420 and 3430 Camino Del Rio North. The school district plans to lease the Class B property to a non-profit charter school. It represented itself in this transaction. The seller, NCWP-River Bank LLC, was represented by Derek Hulse, Derek Applbaum and Tom Mercer of Colliers International.