Sale of Class A downtown Mountain View office property closed by HFF
SAN FRANCISCO, CA – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Castro Station, a three-building, Class A office property in the Silicon Valley city of Mountain View, California.
HFF marketed the property on behalf of the seller, SFF Realty Fund as advised by PSAI Realty Partners. TIAA-CREF purchased the asset for an undisclosed amount.
Castro Station, located at 100, 150 and 200 West Evelyn Avenue, consists of 114,809 square feet plus a three-level, 362-space subterranean parking garage. Buildings 100 and 200 were built in 2000 and total 65,757 square feet. Building 150 is a 49,052-square-foot building completed in 2014. The fully-leased property is occupied by nine tenants in the security software, social networking, cloud software and e-commerce industries, among others. The 3.94-acre site is located at the intersection of Central Expressway and Highway 85 (Norman Y. Mineta Highway) adjacent to the Mountain View Baby Bullet Caltrain Station. Castro Station’s location in downtown Mountain View provides walkable access to its retail core and vehicular access to Highways 101, 82, 85 and 237. Castro Station is also within close proximity of Stanford University as well as numerous high-profile corporate users in Silicon Valley such as LinkedIn, Microsoft, Amazon, HP, Samsung and Google.
HFF’s investment sales team representing the seller was led by senior managing director Steven Golubchik, co-head of HFF’s national office investment sales platform Michael Leggett and director Ben Bullock.
About SFF Realty Fund
The SFF Realty Fund invests in value-add office properties in the San Francisco Bay area. The General Partner of the SFF Realty Fund is San Francisco-based PSAI Realty Partners.
TIAA-CREF (www.tiaa-cref.org) is a national financial services organization with $834 billion in total assets under management (as of 9/30/2015) and is the leading provider of retirement services in the academic, research, medical and cultural fields.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a real estate broker licensed with the California Department of Real Estate, License Number 01385740.