Four Cupertino office buildings occupied by Apple have been bought by a group led by an executive with a worldwide private real estate investment fund for nearly $74 million, pointing to Silicon Valley market strength despite the coronavirus.
The transaction, involving buildings on Bubb Road just west of State Route 85 and De Anza College, shows that investors have yet to slake their thirst for choice properties in the South Bay amid coronavirus-linked economic uncertainties.
The four buildings were bought by an investment group for $73.8 million, according to Santa Clara County public documents filed on Sept. 11.
Cushman & Wakefield commercial real estate agents Eric Fox, Seth Siegel, Ryan Venezia, Steve Hermann, and Adam Lasoff arranged the property purchase. Cushman & Wakefield, a commercial real estate firm, declined comment about the transaction.
The four buildings total 110,000 square feet and have addresses of 10300 Bubb Road, 10411 Bubb Road, 10440 Bubb Road, and 10450-10460 Bubb Road.
The buyer is linked to affiliates that are led by Zahid Rahimtoola, who is the Palo Alto-based chief operating officer with Global Asset Capital, which is a worldwide private investment fund whose interests include real estate and venture capital, according to county property documents and public business records. Investment interests based in Bellevue, Washington state are also involved as buyers.