The three-story A-/B+ building sits on Torre Avenue at itsintersection with Rodrigues Avenue; the street address is 10201Torre Ave. The building's butterfly design allows tenants twice theamount of exterior glass and natural light. Previous tenants haveincluded Symantec and Apple.

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While some surrounding submarkets suffer from double-digitvacancy rates, overall office vacancy in the 3.7 million-sfCupertino market is approximately 8%. Direct vacancy was 3.4% atthe end of June while another 4.7% was available on a subleasebasis, according to Cornish & Carey Commercial, which has theleasing assignment for the building.

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Snell & Co partner Peter Pomeroy declined to discuss thesale price, citing a confidentiality agreement, but says Cupertinois one of the Bay Area's top markets thanks to strong and steadydemand fueled by growth-oriented companies with profitable businessmodels.

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The capital improvement plan for the property includesrenovating the lobby; creating a rear outside courtyard for tenantsto meet and collaborate; improving the landscaping and all commonareas; and re-designing a large roof top deck, which offers tenantsviews of the Santa Cruz mountains.

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With regard to leasing prospects, Rreef managing director JimCarbone says they are good because there are "few to noavailabilities" for businesses looking for at least 15,000 sf ofhigh quality space to lease in Cupertino. The asking lease rate foroffice space in the building is approximately $3.10 per sf permonth [NNN]. Todd Shaffer, Anne Ralston and Tracy Solari withCornish and Carey have the listing.

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"Interest has been strong," Pomeroy says. "We have a had anumber of tours with companies in the 15,000- to 90,000-sfrange.

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