5200 Great America Parkway

Office/R&D 231,000 Sq Ft
Santa Clara, CA

Opportunity

The property was originally acquired in 2007 through a former partnership. After successfully renovating and leasing the property through one of the toughest markets in Silicon Valley history, the majority of the partnership elected to take profits and sell the property in 2011.

But recognizing that significant value increases remained in the property, a “recapitalization” of the majority partners’ interests was implemented to effectively “re-acquire” the asset in 2011.

Execution

With a new partnership organized and the property “re-acquired”, the project has enjoyed significant revenue and value gains through basic marketing and leasing. The property is currently cash flow positive with only 51% of the property leased. Moreover, the land alone is worth near the capitalized value of the property due to the completion of Levi Stadium and significant redevelopment in the neighborhood.

Location: Santa Clara, California
Type: Office/R&D
Size: 231,000 sq. ft.
Acquired: Jun 2011
Status: Holding