Choice Sunnyvale properties near Google campuses land local buyer
Developer Meno Equities prurchases older buildings for $88.5 million
SUNNYVALE >> Two choice sites in Sunnyvale that are ripe for redevelopment and are near current and future Google and Apple office centers have been bought by a veteran Bay Area real estate firm.
Menlo Equities, acting through an affiliate called Sunnyvale Technology Partners, has bought parcels that are located near the interchange of Highway 101 and Highway 237 in Sunnyvale, documents filed with the Santa Clara County Recorder’s Office on Jan. 5 show.
The affiliate of Menlo Equities paid $88.5 million for the property, the county documents show.
If Menlo Equities chose to replace the existing buildings, modern new offices in this section of Silicon Valley could entice plenty of interest from tenants.
Among the tech companies with major operations in Sunnyvale:
• Google leases or owns numerous Sunnyvale office campuses in the immediate vicinity, primarily north of Highway 101.
• Amazon has leased large office hubs in Sunnyvale.
• Apple has signed a lease for a mammoth amount of office space in a nearby tech park and also occupies other large Sunnyvale sites.
• Facebook, creator of a major app for tech titan Meta, just leased a huge office complex in a major expansion of its existing Sunnyvale operations.
Menlo Equities, which is based in Menlo Park, has a long track record of successful tech projects and real estate investments in the Bay Area.
The sites in Sunnyvale that Menlo Equities has just bought could be redeveloped as a modern office campus. Together the parcels total nine acres.
One building on the Sunnyvale site, at 892 Ross Drive, totals 51,000 square feet, according to the Compstak commercial property service. The other building, at 894 Ross Drive, totals 43,800 square feet.
Together the two buildings total about 94,800 square feet. Both buildings were constructed in 1985, which could create a further incentive for redevelopment.
The nine acres, based on Sunnyvale zoning allowances, could accommodate a modern office complex or building totaling 275,000 square feet.