A 13-acre industrial asset located at 1245 Hammerwood Avenue in Sunnyvale was sold for $42 million. The property features a 160,000-square-foot UPS facility, with a price per square foot of $263. The buyer, Redco Development, intends to redevelop the facility into a 265,000-square-foot industrial building, strategically located adjacent to a highway to attract various tenants in the warehouse, R&D, and robotics sectors.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $42,000,000
• Buyer: Chris Freise & Jason Freise - REDCO Development
• Seller: Valacal Company
• Site Area: 13 acres
• Square Footage: 160,000
• Price per Square Foot: $263

The acquisition was handled by Chris Freise and Jason Freise representing REDCO Development, who are focused on expanding their industrial presence in the Bay Area. The seller, Valacal Company, successfully completed this transaction, marking a significant deal in the local industrial market.