An investment group called SCP 2004C-Sunnyvale, LLC acquired the two-building Mathilda/Java Research Center at 1302-1350 N. Mathilda Ave. in Sunnyvale, after lead tenant Yahoo! opted not to exercise its purchase option for the property. Total consideration for the deal was $67.7 million, or roughly $396 per square foot.
Located in Moffett Business Park, the two flex buildings total 171,000 square feet on 7.87 acres. The Internet search engine Yahoo! occupies both buildings. According to brokers, the firm decided not to exercise its purchase option in favor of a restructured lease agreement on its 15-year lease.
Donald Reimann and Gregg Von Thaden of Colliers International in San Jose represented the buyer and the seller, Mathilda/Java Partners, LLC.
(Please reference COMP# SCC-19425-08-0420 for more information.)
By: Adam Jarrett & Adriane Helfrich