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SUNNYVALE, CA-LaSalle Investment Management has paid $32 million or $397 per sf for an 80,000-sf, class A office development here that is fully leased. The building sits on 5.88 acres at 1195 W. Fremont Ave., which is just off Highway 85, also known as the Stevens Creek Freeway.

The building is 100% leased to several tenants. In May, Paris-based multinational software developer ILOG agreed to move its headquarters to the building. Another tenant is Transera Communications, a provider of on-demand call center solutions.

Michel Seifer and Rob Hielscher of Jones Lang LaSalle Capital Markets and Scott Mathisen of Jones Lang LaSalle’s Silicon Valley office represented the seller, a joint venture of locally based South Bay Development and pension fund advisor McMorgan & Co.

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