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Blue Owl Capital Acquires Milpitas Office Campus From Western Digital For $192.5M

Property Image
SOLD
$192,500,000

California

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Office580,400 SF
Sold 09/08/2023
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Property Image
SOLD

Blue Owl Capital Acquires Milpitas Office Campus From Western Digital For $192.5M

1051 Sandisk Drive

See Similar Deals
Office580,400 SF
Sold 09/08/2023
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$331
Total Square Footage:580,400 SF
Transaction Type:Sale

The office property located at 951 Sandisk Drive in Milpitas, California was sold for $192,500,000. The property spans 580,400 square feet and was acquired by Blue Owl Capital from Western Digital in a sale-leaseback arrangement.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $192,500,000
  • Address: 951 Sandisk Drive
  • Market: Milpitas
  • Buyer: Blue Owl Capital - Doug Ostrover
  • Seller: Western Digital - David Goeckeler
  • Square Footage: 580,400
  • Price Per Square Foot: $332

The sale involved Blue Owl Capital led by Doug Ostrover as the buyer and Western Digital represented by David Goeckeler as the seller. The acquisition allowed Western Digital to access capital while retaining use of the property through a lease extension until January 2039.

Players

Doug Ostrover
Doug Ostrover
7 deals$7.8B volume
BUYER
Blue Owl
Blue Owl
LENDER

Details

SOLD
IMAGE: David Goeckeler & Doug Ostrover DATE: 09/08/2023 ADDRESS: 951 Sandisk Drive MARKET: Milpitas ASSET TYPE: Office BUYER: Blue Owl Capital - Doug Ostrover SELLER: Western Digital (@westerndigital) - David Goeckeler SALE PRICE: $192,500,000 SF: 580,400 ~ PPSF: $332 NOTE: Chicago-based Blue Owl Capital has acquired a 580,400-square-foot office campus in Milpitas, California, for nearly $192.5 million. The campus was sold by Western Digital, which also occupies the site, in a sale-leaseback arrangement with a lease term extending to January 2039, allowing the seller to raise cash while maintaining access to the property.

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