Preylock Acquires Fully Occupied Office Building In Santa Clara For $182.5M

Preylock, in partnership with Brett Lipman, has acquired a fully occupied office building located at 3333 Scott Boulevard in Santa Clara for $182.5 million. The asset, spanning 246,000 square feet, was purchased from CBRE Global Investors and The California Teacher’s Retirement System. The sale price translates to a price per square foot of $742, reflecting the stability and value of office properties leased to prominent tech companies in the Silicon Valley market.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $182,500,000
• Address: 3333 Scott Boulevard, Santa Clara
• Market: Santa Clara
• Buyer: Preylock - Brett Lipman
• Seller: CBRE Global Investors & The California Teacher’s Retirement System
• Lender: Pacificcal Debt II
• SF: 246,000
• PPSF: $742

The acquisition of this fully occupied office building by Preylock, with the support of Brett Lipman, demonstrates the resilience of the Silicon Valley office market. The building, which is currently subleased by Applied Materials, showcases the stability and attractiveness of properties leased to prominent tech companies. Despite market fluctuations, this transaction highlights the continued strength and investor interest in the Santa Clara office market.