Huge deal: Nokia-leased Sunnyvale building is bought by veteran investor

SUNNYVALE — A big-time Bay Area real estate company has bought a modern office building in Sunnyvale that is leased to Nokia in a deal that shows investors are placing bets on a solid future for Silicon Valley.

GI Partners, acting through an affiliate, has bought a recently completed office building at 520 Almanor Ave. in the Peery Park district of Sunnyvale for $254 million, according to public documents filed with the Santa Clara County Recorder’s Office on July 20.

The building totals 230,000 square feet and was developed by Lane Partners.

The property purchase was accomplished through a grant deed and an assignment of a ground lease for the

→ Continue reading at Silicon Valley

More from author

Related posts

Advertisment

Latest posts

Deliveroo could leave Spanish market ahead of on-demand labor reclassification

Deliveroo announced today that it is considering leaving the Spanish market, citing limited market share and a long road of investment with “highly uncertain...

For tech firms, the risk of not preparing for leadership changes is huge

Jason Dressel Contributor Jason Dressel is president of History Factory, which helps companies use their history and...

5 Reasons Why Employees Prefer Self-Employment, and Why You Should Use This to Your Advantage

Find employees that care about your business as if it was their own. Free Book Preview: Unstoppable Get a glimpse...