SAN JOSE, CA-Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that MWest Properties has acquired three campuses in North San Jose, CA from Carr Properties, further expanding its Silicon Valley portfolio. While sources involved could not discuss pricing with GlobeSt.com at this time, an unidentified source familiar with the deal tells us the price tag was around $200 million.
The acquisition includes 12 R&D and corporate office buildings totaling 825,000 square feet. The major tenants include Boston Scientific, the North American headquarters of Taiwan Semiconductor Manufacturing Co. and the corporate headquarters of Tessera. And while those involved also could not divulge the address/names of the campuses, our source says the deal included: Valley Technology Center at 2585-2595 Junction Ave. and 2660-2740 Zanker Rd.; Orchard Parkway at 3025 Orchard Pkwy.; and Baytech Business Park at 150-180 Baytech Dr.
Justin Wesley, managing director at MWest, says that “These are quality, well-managed assets with good credit tenancies in place in a market which has seen rental increases and improved vacancy rates and which continues to experience strong employment growth.” He adds that “The addition of these assets creates tremendous synergies within our existing platform and significant value-add opportunities.”
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
