SANTA CLARA, CA-The Irvine Company has purchased another piece of property to strengthen its presence in one of the Silicon Valley's most important markets.
The Newport Beach-based company recently acquired 12-acre Augustine Business Park for $55 million, according to the Silicon Valley Business Journal.
The three buildings at 2525, 2575 and 2585 Augustine Drive total about 188,000 square feet, the Journal said. They were sold by Arden Realty.
The property is adjacent to other office parks the company has acquired in the past twelve months.
Irvine has plans to redevelop the former Equity Office property into Santa Clara Technology Campus, a 1.2-million-square-foot office campus designed for high-tech tenants.
Click Silicon Valley Business Journal to read full story.
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