International real estate advisor Savills has advised Deka Immobilien Special Fund on the sale of Century Plaza II, a six-storey, 99,126 sq ft class A office building in San Jose, California for approximately $47.1 million (€35.5 million).
International real estate advisor Savills has advised Deka Immobilien Special Fund on the sale of Century Plaza II, a six-storey, 99,126 sq ft class A office building in San Jose, California for approximately $47.1 million (€35.5 million). The property is located at 560 S. Winchester Boulevard in the heart of Silicon Valley and San Francisco-based Grosvenor Americas was the purchaser.
Robert Stamm, executive managing director at Savills LLC, says: “The Silicon Valley market environment is characterised by strong fundamentals, including high demand, low vacancy and a limited supply of investment-grade product. The parties in this transaction capitalised on these dynamics.”
The property is fully let to Rockefeller Group Business Centers, Cushman & Wakefield and Bank of America. The building is situated immediately adjacent to Santana Row, a vibrant, pedestrian-friendly, mixed-use development with high end shopping, dining, residential units and a boutique hotel.