Peter Sullivan Of PSAI Realty Partners Secures $51 Million Loan For Sunnyvale Office Facility

The property asset involved in this transaction is an office facility located at 1220 East Arques Avenue in Sunnyvale, California. The asset encompasses 138,410 square feet and occupies 8 acres of land. The acquisition price was $31 million, and it is backed by a loan amounting to $51 million from City National Bank. The property was previously acquired in 2023 from Fujitsu and features HVAC systems, a truck court, and 118 parking spaces.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $51,000,000
• Asset Size: 138,410 SF
• Address: 1220 East Arques Avenue
• Market: Sunnyvale
• Lender: City National Bank
• Landlord: Peter Sullivan - PSAI Realty Partners
• Acquisition Price: $31 million
• Land Size: 8 acres

Peter Sullivan of PSAI Realty Partners represents the landlord in this transaction, securing the loan that facilitates the property's financial backing. The property's class designation is Class B, indicative of its characteristics and market positioning. The deal is notable for its strategic location near major highways, enhancing access and operational efficiency.