February 20, 2020

Prominent Santa Clara office towers are bought


SANTA CLARA — A pair of prominent office towers perched alongside a freeway in Santa Clara have been bought, the seller said Friday.

Santa Clara Towers, totaling 445,000 square feet, has been sold by Shorenstein Properties.

Brokers Russell Ingrum, Joe Moriarty, Scott Prosser, and Jack DePuy of CBRE, a commercial real state firm, represented Shorenstein in the transaction.

Financial terms of the deal, and the name of the buyer, weren’t disclosed by Shorenstein.

In the wake of the financial crisis and the Great Recession, Shorenstein obtained ownership of the towers in 2010 through a foreclosure process.

“I am confident that under new ownership, Santa Clara Towers will continue to attract a diverse mix of tenants who seek a Class A office experience in the heart of Silicon Valley,” said Jed Brush, a senior vice president at Shorenstein Properties.

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Source:: The Mercury News – Business

      

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