Updated Nov 28, 2024
CommonWealth Partners Acquires Sunnyvale Office Building For $707M
1275 Crossman Avenue, Sunnyvale, California 94089, United States
$707,000,000
$983/SF
Building Size
719,000 SF
Asset Type
Office
Closing
Jun 8, 2022
About this deal
AI
Located at 1275-1395 Crossman Ave. in Sunnyvale, this office property was recently sold in a transaction led by CommonWealth Partners represented by Brett Munger as their broker representative. The seller, Tishman Speyer, was represented by Rob Speyer. The transaction took place on 06/09/2022 and the sale price was recorded at $707,000,000. The property encompasses a total area of 719,000 square feet, resulting in a price per square foot of $983.
Summary of transation details
- Property Type: Office
- Transaction Amount: $707,000,000
- Address: 1275-1395 Crossman Ave.
- Market: Sunnyvale
- Buyer: CommonWealth Partners - Brett Munger
- Seller: Tishman Speyer - Rob Speyer
- Square Footage: 719,000
- Price Per Square Foot: $983
The deal involved two key individuals in the industry, with Brett Munger representing the buyer, CommonWealth Partners, and Rob Speyer representing the seller, Tishman Speyer. The successful transaction further demonstrates the robust real estate market in Sunnyvale.
On the Map
$707,000,000
$983/SF
Office
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Players
Sunnyvale Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.02%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93