GI Partners Acquires Sunnyvale Office Building On Almanor Ave For $254M

Rick Magnuson, Emmanuel Roman, and Scott L. Smithers have sold the office property located at 520 Almanor Ave in Sunnyvale. The transaction took place on July 23, 2021, with Lane Partners and PIMCO as the sellers. The property was purchased by GI Partners for a total sale price of $254,000,000. The office space spans 230,000 square feet, resulting in a price per square foot of $1,104.

Summary of Transaction Details

• Property Type: Office
• Transaction Amount: $254,000,000
• Address: 520 Almanor Ave
• Market: Sunnyvale

GI Partners, a prominent buyer in the real estate market, has acquired the office property from Lane Partners and PIMCO. The transaction signifies their ongoing investment strategy in commercial real estate assets. Rick Magnuson, Emmanuel Roman, and Scott L. Smithers, representing the sellers, facilitated the deal on behalf of Lane Partners and PIMCO.