SUNNYVALE, CA-Essex Property Trust has purchased Reed Square, an apartment complex consisting of 100 units a 1070 Reed Ave. in Sunnyvale, from Palo Alto-based Vantage Investors. The company paid $23 million for the nine-building property.
The multifamily property is nearly 100% occupied. Since the mid-1980s, the complex was in the hands of Vantage Investors. Barry Krupp of Krupp & Company and Keith Suddjian of Cornish & Carey Commercial Newmark Knight Frank marketed the property on behalf of Vantage. For the full story, go to Silicon Valley/San Jose Business Journal .
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