Kilroy Realty Sells Bay Area Campus for $365M
The complex consists of three office and R&D buildings.
In one of the largest transactions of this year in Silicon Valley, Kilroy Realty has agreed to sell Mathilda Campus, its three-building office and R&D complex in Sunnyvale, Calif. The property will change hands for $365 million in a transaction that will close late in the third quarter.
Completed in 1997 and 2014, the 663,460-square-foot campus also features a five-story parking garage and an amenity building. The tenant roster includes LinkedIn and Apple, Yardi Research Data shows.
Located at 505-599 N. Mathilda Ave. and 605 Maude Ave., Mathilda Campus is close to Highway 101 and less than 9 miles from San Jose Mineta International Airport. Downtown San Jose, Calif., is 11 miles away, while downtown San Francisco is 40 miles northwest.
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The LEED Gold-certified property comprises a pair of twin six-story buildings of 212,322 square feet each and a 162,785-square-foot five-story facility. The amenity building spans more than 75,000 square feet across three floors and includes a fitness center, a cafeteria and cafe areas, as well as outdoor seating and a large courtyard.
Silicon Valley office activity picks up
Silicon Valley’s office investment volume in the first half of the year clocked in at $804 million, surpassing the total sales activity from 2023 and 2024, according to an Avison Young office report.
One of the major deals in the area so far this year was Apple’s acquisition of Mathilda Commons. The firm paid $350 million for the two-building campus adjacent to Mathilda Campus.
Additionally, Apple also paid $166.9 million for Cupertino Gateway, a three-building office complex in Cupertino, Calif. PGIM Real Estate sold the asset.
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