Santa Clara R&D Building Net Leased to General Dynamics Sells for $72 Million

CoStar Group - October 14, 2005

Invesco Realty Advisors acquired a research and development building at 2305 Mission College Blvd. in Santa Clara, CA for $72 million, or about $200.50 per square foot. The seller was a joint venture of Pacific Coast Capital Partners and South Bay Construction & Development. The two-story building measures 359,000 square feet and is on a 15.78-acre campus. Nortel Networks Ltd. previously occupied the property until General Dynamics Corp., one of the largest defense contractors in the nation, recently signed an 11-year lease. Bill Palmer, John Sedar and Russ Arnold of The Palmer Group Inc. in Sacramento represented the seller. Sphere: Related Content