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LOS ALTOS, CA-Sand Hill Property Co. of San Mateo has sold 4440 El Camino Real, a 96,652-sf, three-story office building here, for $44 million. The building is net leased through 2010 to the publicly held technology company Rambus Inc., which uses the building as its headquarters. The new owner is a private REIT of Behringer Harvard, a Dallas-based commercial real estate company making its first acquisition in the Bay Area.

Located between San Francisco and the Silicon Valley, the asset was constructed in 2000 on 1.6 acres that includes both surface parking and a two-story underground parking garage. Management of the property has been awarded to Trammell Crow Co.

The building was acquired for Behringer Harvard REIT I Inc. The entity has 31 assets in 13 states and the District of Columbia. Behringer Harvard SVP Jason Mattox did not return a phone call seeking additional comment. Erik Doyle, Steven Hermann and Robert Gilley of CB Richard Ellis brokered the transaction.

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