CBRE Arranges Financing for Vacant Sunnyvale Office Building
CBRE has arranged $15 million in financing for a Sunnyvale office building on behalf of a joint venture between Four Corners Properties and Westbrook Partners. The loan will be used to renovate the vacant property into a creative office building with an open floor plan and new exterior.
Located in downtown Sunnyvale, the two-story standalone property has 27,000 square feet of office space with ample high-speed fiber connectivity. The building at 288 South Sunnyvale Ave. is just a few blocks away from the Sunnyvale Caltrain station and several retail outlets.
Mike Walker and Brad Zampa with CBRE Capital Markets arranged the three-year, floating rate loan. “As tech companies have expanded their real estate footprints in Silicon Valley over the last several years, Sunnyvale has become the submarket of choice,” said Walker. “This is a unique opportunity for a small- to mid-size tenant to have their own headquarters in a dynamic downtown location.”
- ◦Financing
