Big NetApp campus in Sunnyvale goes on product sales block
SUNNYVALE — NetApp has put up for sale its enormous four-creating headquarters campus in Sunnyvale, marking the most recent effort by a tech titan to dispose of Silicon Valley or Bay Area houses.
The buildings that NetApp is trying to market overall roughly 702,200 square ft and are all located in a segment of northern Sunnyvale regarded as Moffett Park. In current a long time, Moffett Park has come to be 1 of Silicon Valley’s hottest places for authentic estate activity.
Much less than two many years back, NetApp offered other Sunnyvale homes adjacent to the kinds that are now on the marketplace. Google purchased the properties and land, having to pay $95.6 million for the properties, Santa Clara County community files show.
All the homes that both NetApp bought to Google or that NetApp now has placed up for sale are on a block bounded by East Java Drive, Geneva Travel, East Caribbean Generate, and Crossman Avenue in Sunnyvale.
Savills, a industrial real estate company, has circulated a flyer offering the 4-setting up campus to possible customers. The Course A office environment campus is remaining marketed by Savills brokers John Brady, Peter Hamann, Joseph Brady, and Michael Drew, according to the flyer.
A probable presenting selling price was not outlined in the revenue offer. The homes that had been positioned on the industry occupy about 21 acres.
Even so, $319.1 million is the present-day merged worth of the 4 parcels that are remaining offered for sale, according to documents on file with the Santa Clara County Assessor’s Workplace.
Sunnyvale-based NetApp didn’t answer to a ask for for remark.
Residence professionals have beforehand informed this news firm that NetApp is scouting for a new headquarters place in Silicon Valley, including in San Jose. But it also wasn’t quickly very clear regardless of whether NetApp would continue to be in 1 or additional of the Sunnyvale properties if it completes a sale of the home.
The income brochure famous that the Sunnyvale buildings are in an location with accessibility to multiple leisure alternatives.
“The web site is surrounded by an out of doors amenity location consisting of picnic/patio parts, a beach front volleyball court, a pond/fountain, and an open garden region with walking paths,” Savills mentioned in the marketing and advertising flyer.
Other tech corporations are trying to offer off large buildings.
Oracle, notably, has set on the market place an office tower in downtown San Jose as very well as some properties in Redwood City. Oracle suggests it is relocating its headquarters from Redwood Metropolis to Texas.
The NetApp campus offer in Sunnyvale also involves two parking garages along with the 4 office environment structures.
The dimensions of the four structures and their assessed values, according to the county Assessor’s Place of work.:
— 1395 Crossman Ave., 189,700 sq. toes, valued at $80.8 million
— 1375 Crossman Ave., 189,800 sq. ft, valued at $73.6 million.
— 1345 Crossman Ave., 189,700 sq. ft, valued at $50.2 million.
— 1275 Crossman Ave., 133,000 square toes, valued at $114.5 million.
NetApp intends to make some enhancements to its Sunnyvale campus, according to the Savills internet marketing brochure.
“NetApp is developing a walking path that runs together the inside of the campus,” the income brochure said. “The walking path would weave as a result of a variety of features, like a wide range of out of doors seating places, patios, fountains, orchard, sand volleyball, and bocce courts serving as amenities for staff members to delight in.”
