SANTA CLARA — The Campus at Scott, an workplace and tech complicated in Santa Clara sufficiently big to accommodate 1,800 to 2,300 staff, has been purchased by an alliance of Bay Space actual property agency Ellis Companions and Boston-based hedge fund Baupost Group.
“We are thrilled to add these high-quality buildings to our growing portfolio of Silicon Valley office and research and development assets,” mentioned Kevin Bocci, an Ellis Companions senior vice chairman. “We are excited to reintroduce the project and partner with Silicon Valley companies on their real estate needs going forward.”
The Santa Clara campus totals 460,000 sq. ft and has addresses of 3315, 3325, and 3355 Scott Blvd. New York Metropolis-based Clarion Companions offered the property.
“The investment comes at a time of significant renewed leasing activity in Silicon Valley and a national flight to quality within the office sector,” Ellis Companions said relating to the transaction.
Tech corporations have proven they’ve loads of confidence within the South Bay workplace market.
In latest weeks, Apple, by a mixture of actual property purchases that have been both totally full or pending, has agreed to pay $881.9 million for an array of buildings in Cupertino and Sunnyvale.
Nvidia launched a purchasing spree for properties in Santa Clara that now totals $751.5 million because it expands its presence in its hometown.
Ellis Companions is planning a big improve to assist entice tenants to The Campus at Scott, together with facilities tied to health, meals and out of doors areas. Santa Clara Sq., a retail and restaurant hub, is inside strolling distance as nicely.
“Having witnessed the dynamism of the Valley ecosystem through multiple cycles, we have high conviction that providing quality and amenitized workplaces to the market in Class A settings like the Campus at Scott will continue to be a winning thesis,” mentioned Jason Morehouse, chief funding officer with Ellis Companions.
