DRAWBRIDGE REALTY TRUST ACQUIRES 66,000 SQUARE FOOT OFFICE BUILDING IN SILICON VALLEY
Santa Clara, CA - January 22, 2013 - Drawbridge Realty Trust has acquired 3201 Scott Boulevard in Santa Clara, California. The premier Silicon Valley property was acquired for $18 million. The 66,106 square foot two-story office building is leased to Advantest America. The seller was Menlo Equities, LLC, and no brokers were involved in the off market transaction.
"The Scott Boulevard property was attractive due to its excellent location and the steady cash flow produced by a high quality tenant," said Mark Whiting, CEO of Drawbridge Realty Trust. "We look forward to finding more diamonds in the rough to add to our portfolio in the coming months as opportunities arise."
With this recent acquisition, Drawbridge owns and manages a portfolio of 1.8 million square feet throughout the western United States. The recent purchases come after the firm received a $150 million capital investment from Almanac Realty Investors last September.
In addition to Scott Boulevard, Drawbridge Realty Trust recently acquired three office properties in San Diego County. Two of the three buildings are leased to Broadcom Corporation in the Discovery Corporate Center campus at 11020 Via Frontera Drive and at 16465 Via Esprillo in Rancho Bernardo. The properties were purchased for $53 million and comprise a total 137,438 square feet.
Drawbridge also acquired a vacant two-story, life sciences building located at 6550 Nancy Ridge in the Sorrento Mesa for $2 million.