Cushman & Wakefield Brokers 175,000 SF Office Lease In Santa Clara For Hines
3508 Bassett Street & 3580 Bassett Street
Building Size
350,000 SF
Asset Type
Office
Closing
Feb 23, 2024
AI
The office property located at 3508-3580 Bassett Street in Santa Clara spans 175,000 square feet. The landlords, Jeffrey Hines and Laura Hines-Pierce of Hines, successfully leased the space to three tenants, namely Matt Van Haaren of EOTech, LLC; Nigel Hunton of Intevac; and Jimmy Rojas of Evoloh, Inc.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Landlord: Jeffrey Hines & Laura Hines-Pierce - Hines
- Tenant: Matt Van Haaren - EOTech, LLC; Nigel Hunton - Intevac; Jimmy Rojas - Evoloh, Inc
- Brokers: Jon DeCoite, Kelly Yoder & Steve Horton - Cushman & Wakefield
Cushman & Wakefield facilitated the leasing of 175,000 square feet at Bassett Technology Park in Santa Clara for Hines. The secured leases with EOTech, LLC, Intevac, and Evoloh, Inc highlight the campus's resilience and desirability in the R&D/manufacturing sector.
Players
Santa Clara Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93