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Harvest Properties And TPG Real Estate Purchase 1.1M SF Office Campus From Hock Tan For $115M

Property Image
SOLD
$115,000,000

California

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Office1,100,000 SF
Sold 09/30/2025
the dealplayerscompscontact
Property Image
SOLD

Harvest Properties And TPG Real Estate Purchase 1.1M SF Office Campus From Hock Tan For $115M

Office1,100,000 SF
Sold 09/30/2025
the dealplayerscompscontact
Contact now

Summary

Asset Type:Office
Price Per Square Foot:$104
Total Square Footage:1,100,000 SF
Transaction Type:Sale

The property involved in this transaction is a 70-acre office asset located on Hillview Avenue in Palo Alto, identified as part of Stanford Research Park. The asset encompasses a total square footage of 1,100,000, sold for $115,000,000 at a price per square foot of $105.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $115,000,000
  • Square Footage: 1,100,000
  • Price per Square Foot: $105
  • Buyer: Harvest Properties & TPG Real Estate
  • Seller: Hock Tan - Broadcom
  • Market: Palo Alto

This transaction was executed with Harvest Properties and TPG Real Estate acquiring the site from Hock Tan of Broadcom. The sale involves Broadcom offloading a mostly vacant 13-building campus while retaining 550,000 square feet in a nearby location, with the buyers intending to upgrade the site amid renewed demand for office spaces in Silicon Valley.

Players

Harvest Properties
Harvest Properties
BUYER
TE
TPG Real Estate
BUYER
Hock Tan
Broadcom
Hock Tan
1 deal$115M volume
SELLER
Broadcom
Broadcom
SELLER

Details

SOLD
IMAGE: Hock Tan DATE: 09/30/2025 ADDRESS: Hillview Avenue MARKET: Palo Alto ASSET TYPE: Office ~ ACRES: 70 BUYER: Harvest Properties & TPG Real Estate SELLER: Hock Tan - Broadcom SALE PRICE: $115,000,000 SF: 1,100,000 ~ PPSF: $105 NOTE: Broadcom sold its 1.1M-sf, 13-building campus at Stanford Research Park in Palo Alto to Harvest Properties and TPG Real Estate for about $115M ($104/sf). Broadcom, which retains 550K sf nearby, offloaded the mostly vacant site as the buyers plan upgrades amid renewed Silicon Valley office demand

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Deal Type
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Operating Expenses (Annual)
Net Operating Income (NOI)

$6,133,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$408,570.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$545,158.67
Annual Debt Service$6,541,904.04