Rob Shannon and Joe Kelly of Colliers International represented Standard Industries. George Eckard and Grant Lammersen of Cushman & Wakefield represented TIAA.
In a voicemail message, Shannon tells GlobeSt.com that Standard is a high-net-worth individual holding for long-term appreciation. He could not be reached Thursday for comment on occupancy, availability and lease rates.
"[Standard's] strategy is to buy into recovery markets that we believe have a number of drivers, such as the Silicon Valley, and to be part of the rising rents," Shannon says.
The campus, referred to by C&W as Mission Falls Business Park, is not the nearby Mission Falls Business Park that changed hands back in August. That development, three R&D buildings totaling 128,000 sf on 7.7 acres, sold to San Diego-based Westcore for $11.2 million. The listing broker, Tyler Kemp of Santa Clara-based CPS tells GlobeSt.com that two of those buildings, which were vacant at time of acquisition, are being renovated and subdivided into smaller units.
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