Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
NIY N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 1980
Building Area Gross
Occupancy 100.0 %

Asset Description

Jones Lang Lasalle America’s, Inc. (JLL), as exclusive advisor, is pleased to present the opportunity to acquire the fee simple interest in 350 Cobalt Way (“350 Cobalt” or the “Property”), a partial two-story, 134,218 R&D asset located in Sunnyvale, California. Situated on a 8.3-acre site adjacent to the Lawrence Station Area Plan, 350 Cobalt is well positioned within one of Silicon Valley’s most dynamic and transit oriented submarkets. The Property is currently 100% owned and occupied by Fujitsu North America, Inc. (“Fujitsu” - S&P: A-), who will execute a leaseback through September 2023 and vacate upon expiration.


Ideally accessed by both the Lawrence and Central Expressway, 350 Cobalt sits in the center of the world’s most innovative and diverse tenant base amidst numerous high-profile and growth oriented campuses including Intuitive Surgical, Apple, Applied Materials, and Texas Instruments. Driven by robust tenant demand and leasing velocity, Silicon Valley, and Sunnyvale specifically, has witnessed one of the most remarkable large block leasing rallies in recent history, with over 12 million square feet of R&D/office leasing activity in the past 24 months. This push was in large part due to the emergence of new industries, from hardware to manufacturing to life sciences, in the Silicon Valley R&D market. As demand for R&D/advanced manufacturing space rapidly grows and vacant land becomes increasingly rare, redevelopment and conversions will account for 70% of new product by 2024.


Well positioned for the needs of today’s innovators, 350 Cobalt provides strong R&D infrastructure with 13,000 amps of power, ample clear heights, and a generous loading area. This infrastructure paired with full building tenant identity provides a rare investment offering in the Silicon Valley where there is a lack of move in ready, full building R&D space.


350 Cobalt’s current positioning and future development potential offers investors a rare and compelling repositioning opportunity within the rapidly evolving Central Sunnyvale submarket.

Investment Highlights

  • Rare repositioning opportunity of scale with strong infrastructure specs
  • Multiple paths to stabilization via redevelopment or renovation
  • Located in a flourishing submarket proximate to the world's most diverse tenant base
  • Increasingly supply-constrained submarket with robust tenant demand
  • Superior market fundamentals and large block leasing velocity
  • Prime Silicon Valley location proximate to mass transportation options
Last Updated Date: 21 Oct 2022

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Last Updated Date: 21 Oct 2022

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