Sycamore Technology Center

Milpitas, CA

Address:   475-525 Sycamore Drive

Year Built:   1983

Building SF:   213,519 SF

Purchase Price:   $45.5 million

Closing Date:   August 14, 2020

Projected Hold Period:   3 Years

Highlights

Premier campus of three office/ R&D buildings located in the heart of Silicon Valley.
  • Institutional quality real estate with ease of access from I‐880, Hwy ‐101, SR‐237 and Montague Expressway;
  • Strong existing rent roll with staggered lease roll and credit tenancy;
  • In‐place contract rents are approx. 60% below market rates;
  • Excellent regional market fundamentals, The Bay Area and Silicon Valley specifically is one of the most vibrant economies in the nation.

Overview - Projected Project Level Returns

26.1%

Projected IRR

1.99X

Equity Multiple

3 Years

Hold Period