Cisco Offices in CA Offered at $70 million

Real Estate Alert reports that Ohio State Teachers has received more than 10 bids for Montague Court Technology Park, a 224,000-sf office complex in the San Jose suburb of Milpitas. Some bids top $70 million, which translates into an initial annual yield of roughly 14%. Cisco Systems leases, but does not occupy, the complex through 2010 at a rent of $42.50/sf on a triple-net basis. Colliers International is representing the Ohio fund. Sphere: Related Content