MOUNTAIN VIEW, CA-Divco West said yesterday it paid $33 million for 134,000-sf spread out in seven one-story buildings on 8.8 acres known as the Mountain View Technology Park. The park is located at Clyde and Logue Avenues in Mountain View.
San Jose-based Divco bought the complex from Tishman-Heskin Partners. Divco investment director Michael George could not be reached for comment on existing tenants or vacancies.
“It’s logical to say that Divco, like other real estate investment companies, will take a value-added strategy,” a company source says. The term “value-added” refers to property-improvement plans such as interior and exterior renovations. Divco has not made public its plans for the complex, the source says. “It has not announced its specific… strategy, but is known to harvest assets when the time comes,” the source says.
Divco estimates its portfolio at nine million sf in the Silicon Valley, the Bay Area, Los Angeles and other western markets.