Tishman Speyer has sold 400 Castro Street, a fully leased office building in Silicon Valley, to Spear Street Capital for $121.5m (£104.4m), achieving an $876 per sqft price.
The real estate manager developed the 138,000sqft property in downtown Mountain View, California in 2002, and it has remained leased to law firm Fenwick & West ever since.
Maggie Kadin, Tishman Speyer managing director, said: “Our successful development and stewardship of 400 Castro reflects our capabilities and thoughtful, long-term approach to managing high-quality real estate that serves the evolving needs of our customers.
“The transaction demonstrates continued demand for well-located, institutional-quality office assets.”
To read the latest IPE Real Assets magazine click here.
