Juan Font Of CoreSite Acquires Three Office Buildings In Santa Clara For $100M From Rick Magnuson Of GI Partners

The transaction involved three office buildings located at 2805 Bowers Avenue, 2855 Bowers Avenue, and 2710 Walsh Avenue in the Santa Clara market. The total sale price amounted to $100,000,000, and the properties encompass a combined square footage of 244,100, resulting in a price per square foot of $410.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $100,000,000
• Buyer: Juan Font - CoreSite
• Seller: Rick Magnuson - GI Partners
• Total Square Footage: 244,100
• Price Per Square Foot: $410
• Location: 2805 Bowers Avenue, 2855 Bowers Avenue & 2710 Walsh Avenue, Santa Clara

Juan Font represents CoreSite in this acquisition, while Rick Magnuson represents GI Partners as the seller of the properties. The previous acquisition by GI Partners occurred in 2021, for a total of $79,000,000, indicating a 26.6% increase in value during the holding period.