Mountain View – A “vibrant” Mountain View technology campus in a vibrant Silicon Valley tech hub has been bought by a coalition of veteran real estate companies.
According to documents filed with the Santa Clara County Recorder’s office July 15, TMG Partners and Goldman Sachs, a real estate unit, met to buy a five-story office complex on Ellis Street in Mountain View.
County records show that NortonLifeFlock, formerly known as Symantec, sold five buildings to Titan, TMG and Goldman Sachs in an all-cash deal, according to county records.
Ben Kochalsky, a San Francisco-based real estate and regional partner with TMG, said:
The five buildings that have just been purchased were part of a portfolio of 10 buildings in the Ellis Street section of Mountain View that NortonLifelock offered for sale as a group in January 2020.
NortonLife Lock wanted to sell the entire portfolio to one buyer at the same time but instead wound up selling 10 buildings in separate sections.
In April 2021, a partnership between Bay Area developer Steelwave and New York City-based real estate investor Angelo Gordon & Co. paid টন 100.5 million to NortonLifelock for two buildings on Mountain View’s Whisman Road.
Still unsold: 455, 487 and 501 e. Midfield Road is a complex with old office and research buildings, as well as a data center. These three buildings total 128,000 square feet.
The five builds that TMG and Goldman Sachs bought this week were considered the most attractive part of its 10-building portfolio, according to a flyer promoted by Cushman & Wakefield, a commercial real estate firm, which was launched in 2020. Property sale on behalf of NortonLifeLock.
“The basis of this portfolio” is the “building” of the five building headquarters on Ellis Street.
The lobby was recently renovated, according to the Cushman & Wakefield brochure, and the headquarters site provides valuable benefits to today’s tech companies. Lobby reform costs $ 22 million.
“Campus facilities include an open work environment, spacious meeting and conference rooms, a kitchen and break area on each floor, and collaborative space,” TMG partners said.
The technology campus also includes a facility building nearby
“There is a full-service Union2 restaurant and gastropub restaurant and all-round meeting area,” TMG partners said. The site includes “a box ball court, tennis courts, sand volleyball courts and numerous outdoor patios.”
NortonLifelock has agreed to lease a building. About 70% of campus has zero.
Newmark commercial real estate brokers John Mackie, Mike Sign and Phil Mahney are leading the effort to lease out the large office campus.
“Newmark has taken the opportunity to lease us, and we believe that interconnection on campus, indoor / outdoor facilities, and adherence to health and wellness in the workplace will motivate the best companies,” Kochlsky said.