Updated Oct 19, 2026
California Communities And Mozart Development Acquire Office Property In Sunnyvale For $15.5M From Planetary Ventures
494 South Bernardo Avenue
$15,500,000
Building Size
—
Asset Type
Office
Closing
Dec 23, 2025
About this deal
AI
A 1.5-acre office property located at 494 South Bernardo Avenue in Sunnyvale was sold for $15,500,000. The asset, which was formerly owned by Planetary Ventures, a subsidiary of Google, was marketed as a potential suburban residential development opportunity.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $15,500,000
- Buyer: California Communities; John Mozart - The Mozart Development Company
- Seller: Planetary Ventures
- Date of transaction: 12/23/2025
Planetary Ventures acquired the property in 2007 for $6,300,000. The sale marks a significant transaction involving an affiliate of California Communities working alongside The Mozart Development Company in the purchase.
On the Map
$15,500,000
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
1.02%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93