John Grassi Of Spear Street Capital Acquires Office Building In Sunnyvale For $87.8M

The transaction involved an office property located at 221 North Mathilda Avenue in Sunnyvale. The property comprises 156,000 square feet and was sold for $87,800,000, equating to approximately $563 per square foot. This deal represents a strategic reacquisition by the buyer, who initially developed the property.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $87,800,000
• Sale Price per Square Foot: $563
• Square Footage: 156,000
• Buyer: John Grassi - Spear Street Capital
• Address: 221 North Mathilda Avenue
• Market: Sunnyvale

The primary individual involved in this transaction is John Grassi, representing Spear Street Capital, which has reacquired the office building amid a challenging office market landscape. The previous owner's financial loss in this deal reflects broader trends currently affecting the market.