LOS ANGELES – October 2, 2017 – CBRE Global Investors has acquired The Campus @ 3333 – Phase III, a newly constructed 940,564 square foot four-building trophy office campus in Santa Clara, California, on behalf of a joint venture between Korea Post and another separate account client. The property is fully leased to Palo Alto Networks, a market-leading network security firm, and serves as their headquarters.
The Campus @ 3333 – Phase III is located at 3000-3200 Tannery Way in Santa Clara, California, a desirable location due to its proximity to walkable retail amenities, executive/employee housing, and major transportation arteries as well as Caltrain, which provides public transportation access throughout the Bay Area.
The campus, which is LEED Silver certified, includes a dedicated 30,485 square foot amenity building with a full-service cafeteria, conference center, outdoor amphitheater, dedicated open space, outdoor dining and collaborative meeting space adjacent to the building, 200 EV charging stations, bicycle storage, a grass picnic area and access to a fitness center.
“The San Jose market has experienced broad-based growth primarily driven by the rapid and sustained technology boom in Silicon Valley,” said Gardner W. Ellner, Senior Director,
Commercial Acquisitions-Americas. “As a result, vacancy rates have dramatically declined to the lowest levels since 2000, and tenants are actively moving to submarkets such as Santa Clara because it is among the few remaining markets with large blocks of high-quality functional office space in close proximity to housing and a strong amenity base.
“We are excited to own product of this quality leased to a market leader in the rapidly growing field of network security on behalf of our clients,” said Jeff Torto, Senior Managing Director and Portfolio Manager-Americas.
CBRE Global Investors also acquired The Campus @ 3333-Phase II in June on behalf of a separate account client.
About CBRE Global Investors
CBRE Global Investors is a global real asset investment management firm with $98.9 billion in assets under management* on a combined pro forma basis, as of June 30, 2017, to reflect the completion of the acquisition of a majority stake in Caledon Capital Management Inc.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment company for the benefit of its investors. CBRE Group, Inc. has more than 75,000 employees in approximately 450 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real asset-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real asset-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors' presence in the global real asset market, and its calculation of AUM may differ from the calculations of other asset managers.