Tishman Speyer Acquires Moffett Park Office In Sunnyvale From NetApp For $325M

An office property located at 1395 Crossman Ave. in Moffett Park, Sunnyvale, was recently sold for $325,000,000. The property spans over 700,000 square feet, resulting in a price per square foot of $464. The sale took place on April 16, 2021, and the seller was NetApp. Tishman Speyer, represented by Rob Speyer, acquired the property. The deal was facilitated by brokers Phil Mahoney, Jon Mackey, and Mike Saign from Newmark, along with Joe Brady, Mike Drew, Peter Hamann, and John Brady from Savills.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $325,000,000
• Address: 1395 Crossman Ave.
• Market: Moffett Park, Sunnyvale
• Buyer: Tishman Speyer - Rob Speyer
• Seller: NetApp
• Brokers: Phil Mahoney, Jon Mackey, and Mike Saign - Newmark; Joe Brady, Mike Drew, Peter Hamann, and John Brady - Savills
• Square Footage: 700,000
• Price per Square Foot: $464

The sale of the property was completed on April 16, 2021, with Tishman Speyer, represented by Rob Speyer, as the buyer. NetApp served as the seller in the transaction. The deal was coordinated by Phil Mahoney, Jon Mackey, and Mike Saign from Newmark, along with Joe Brady, Mike Drew, Peter Hamann, and John Brady from Savills.