Los Angeles-based Montana Avenue Capital (MAC) Partners LLC recently acquired a 53,583-square-foot freestanding single-story office/R&D building in Sunnyvale for $19.3 million. MAC intends to rebrand the nearly 4-acre campus as Nine Seventy. The asset at 970 Stewart Dr. represents MAC’s eighth completed acquisition since December 2020.

Seller Dellamanos and Hesslers had owned the property since 2005. The property is currently fully leased but expected to be vacant in the near term.

The building was originally constructed in the 1980s and the seller completed a multi-million dollar renovation during 2013 to 2014. MAC now plans for its own full remodel of the property.

Cushman & Wakefield’s Kalil Jenab and Steven Jenab represented both parties in the sale and were also retained by MAC to handle project leasing for the asset.

“This asset provided a great investment opportunity of a versatile building in a low-rise environment and a desirable location in the heart of the valley,” says Jenab. “The building can also accommodate a variety of users including tech, professional and life sciences due to its clear height.”

Nine Seventy is located in a dense business district close to Caltrain, Highway 101, Central Expressway, Levi’s Stadium and San Jose International Airport.