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| 145 Rio Robles Drive, San Jose, CA |
SAN RAFAEL, CA. (Oct. 9, 2012) Citing a remarkable
opportunity to acquire an off-market asset in the heart of Silicon Valley, W3
Partners, an institutional real estate investment manager and operating
company, and Ridge Capital Partners, LLC, a private equity investment firm,
have acquired a three-building R&D office complex in San Jose, Calif.
Built in 1985 and completely renovated in 2011, the
185,074-square-foot Class A property is situated on approximately 11 acres at 51,
77 and 145 Rio Robles Drive.
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| Susan Sagy |
“This purchase fits
perfectly within our acquisition strategy. Our goal is to acquire value-add
assets that are located in markets with great employment fundamentals and
demand a creative approach to unlocking opportunity,” said Susan Sagy,
managing partner, W3 Partners.
W3, a well-capitalized investment manager focused on a West
Coast value-add office and office R&D strategy, will be the majority
partner and operator for the venture.
Two of the three buildings within the property are fully
occupied by SunPower Corporation (Nasdaq: SPWR). SunPower designs,
manufactures, and markets high performance solar electric power technologies.
The third building, which totals 56,895 square feet, is currently vacant.
For a complete copy of the company’s news release, please
contact:
Darcie Giacchetto
Spaulding Thompson & Associates
(949) 278-6224
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