SUNNYVALE — A deal to buy a huge site in a choice Sunnyvale location could lead to redevelopment of the property as a modern tech campus, real estate experts said Monday.
Menlo Park-based Lane Partners paid $104 million to buy six buildings on East Arques Avenue in Sunnyvale, according to Santa Clara County property documents filed on Oct. 29.
The site totals 26.3 acres and has addresses that include 1200, 1230, 1240, 1250, 1260, 1270, and 1280 E. Arques Ave., according to JLL a commercial real estate firm that arranged the transaction.
The property is in a key location in Silicon Valley and is a short distance from a Caltrain Station and U.S. Highway 101, according to JLL brokers Will Connors, Daniel Renz, Michael Manas, Bart Lammersen, Kyle Caldwell, and Toss Vallentine, who arranged the property purchase.
“The redevelopment potential of this campus is unmatched in the immediate area,” JLL