MENLO PARK, CA—Time Inc. has found a buyer for the Sunset magazine campus here.
The Mercury News says Embarcadero Capital Partners, a Belmont-based company, has been selected as the buyer for the seven-acre site at 80 Willow Road.
The property includes a 77,000 square-foot building, and according to trade industry reports, it might have sold for more than $70 million.
"The Sunset Magazine campus in a prime spot in Silicon Valley," said Chad Leiker, a broker with Kidder Mathews, who spoke with the newspaper.
Time will continue to publish the magazine brand even after the property changes hands. The purchase is expected to be complete by year's end.
Embarcadero Capital Partners owns a number of office buildings in the Bay Area, including Santa Clara County and the East Bay.
Click Mercury News to read the full story.
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