Divco West Pays $72.7 Mil for 320,000 SF

MOUNTAIN VIEW, CA-Divco West Properties and a group of individual investors now owns 320,000-sf of the one million sf Shoreline Business Park here.

The San Jose-based developer paid Boston-based AEW Capital Management LP $72.7 million for the eight-building portfolio. The properties were held by Copley Investors Limited Partnership, a fund managed by Boston-based AEW on behalf of a number of institutional investors.

The fully-leased buildings’ tenants include Silicon Graphics, Verisign and Acuson. Divco, which has an estimated $9 million West Coast portfolio, has not said whether it will raise rents. Shoreline Business Park is a 23-building development located at the intersection of Shoreline Road and Charleston Way.