SANTA CLARA, CA–A two-story, 80,878-square-foot office/R&Dbuilding located at 3003 Bunker Hill Lane wasacquired by affiliates of Equus Capital PartnersLtd., a private equity real estate fund manager. Theseller was a joint venture between TMG Partnersand Alcion Ventures LP, a Boston-based realestate private equity firm. TMG and Alcion were represented inthe transaction by the Eastdil Secured teamout of the San Jose office.

Built in 1980 and situated on 5.6 acres, the property wasextensively renovated in 2014, and was 100% leased to two tenantsat the time of closing. In 2014, TMG leased 90% of the projectto Jasper Technologies Inc., a market leader incloud-based platforms, which uses the building as its globalheadquarters. Jasper will be expanding into the balance of thebuilding in 2016, upon the vacating of the space by anothertenant.

TMG Partners acquired the building in December of 2012 andembarked on a major capital renovation plan that involveddemolishing and re-building the interiors with upgraded mechanicaland electrical systems, new restrooms and entry lobbies. Inaddition, TMG completed extensive landscape improvements includingan outdoor patio and gathering area, parking lot expansion, as wellas exterior window line glazing replacement.