{"id":1004203468,"date":"2018-01-12T05:03:27","date_gmt":"2018-01-12T13:03:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004203468"},"modified":"2022-12-09T02:23:47","modified_gmt":"2022-12-09T10:23:47","slug":"vista-grows-silicon-valley-footprint-with-113m-purchase","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/vista-grows-silicon-valley-footprint-with-113m-purchase\/","title":{"rendered":"Vista Grows Silicon Valley Footprint With $113M Purchase"},"content":{"rendered":"

By Gail Kalinoski<\/em><\/p>\n

\"Vasona<\/a>

Vasona Tech Park<\/p><\/div>\n

Vista Investment Group, a Santa Monica, Calif.-based privately held real estate investment firm, expanded its Silicon Valley holdings with the acquisition of Vasona Technology Park, a 314,256-square-foot complex in Campbell, Calif., for $113 million. An unidentified institutional money management firm teamed with Vista in a joint venture on the transaction.<\/p>\n

The property, developed between 1963 and 1981, has seven one- and two-story office and R&D buildings ranging in size from 16,000 to 74,000 square feet.\u00a0The asset is located on an 18.5-acre site, bordered by Winchester Boulevard, East Hacienda Avenue and Dell Avenue in the Los Gatos submarket. Vista plans to create value by continuing to reposition the older buildings in the project to a more creative office standard and leverage off of the expansive campus setting, one of the largest contiguous land sites in the area, according to Vista President Jonathan Barach.<\/p>\n

\u201cThis is our fourth and probably most exciting project in Silicon Valley<\/a>. The property is anchored by investment-grade tenants with long-term leases, and will benefit from both interior and exterior improvements, which we will implement as leases expire over the next several years,\u201d<\/em>\u00a0Barach said in a prepared statement.\u00a0\u201cWe will work immediately to improve the outdoor common areas with the creation of a large collaborative work, dining and recreation spaces throughout the campus. The campus is located in one of the most supply-constrained submarkets in Silicon Valley, proximate to highly desirable executive housing in the neighborhoods of Los Gatos, Saratoga and Monte Sereno.\u201d<\/em><\/p>\n

Cushman & Wakefield\u2019s Northern California Capital Markets team marketed the property on behalf of the seller.<\/p>\n

Value-Add Deal<\/h2>\n

Vasona Technology Park was 100 percent leased at closing with tenants including the Kaiser Foundation Health Plan and ChargePoint.<\/p>\n

\u201cThe Silicon Valley market experienced a strong second half of 2017 after a relatively slow start to the year. Investor optimism and tenant growth have returned to the market,\u201d<\/em>\u00a0Eric Fox of Cushman & Wakefield said in a prepared statement.<\/p>\n

Vista acquired the park\u00a0from The Carlyle Group, which had purchased the site from Hines in January 2015 for $84 million, according to Yardi Matrix data. Hines had owned the complex since November 2006, when it was acquired from Westcore Properties in a $352.5 million, 44-property portfolio transaction, Yardi Matrix noted.<\/p>\n

The acquisition of Vasona Technology Park brings Vista\u2019s Silicon Valley office portfolio to more than 673,000 square feet. Its other assets, located in San Jose, Calif., are fully leased to companies including Broadcom, Thinfilm, BioNex, Oclaro and O-Net Communications.<\/p>\n

Image courtesy of\u00a0Vista Investment Group<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Cushman & Wakefield\u2019s Northern California team marketed the property on behalf of the seller, The Carlyle Group. <\/p>\n","protected":false},"author":1068,"featured_media":1004203498,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21748,21783,21742,21747,36079,15],"tags":[32799,36109,34453],"class_list":["post-1004203468","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-industrial","category-investment","category-latest","category-office","category-san-jose","category-west","tag-cushman-wakefield","tag-the-carlyle-group","tag-vista-investment-group"],"acf":[],"yoast_head":"\nVista Grows Silicon Valley Footprint With $113M Purchase - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/vista-grows-silicon-valley-footprint-with-113m-purchase\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vista Grows Silicon Valley Footprint With $113M Purchase\" \/>\n<meta property=\"og:description\" content=\"Cushman & Wakefield\u2019s Northern California team marketed the property on behalf of the seller, The Carlyle Group.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/vista-grows-silicon-valley-footprint-with-113m-purchase\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-01-12T13:03:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T10:23:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Vasona-Tech-Park.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/vista-grows-silicon-valley-footprint-with-113m-purchase\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/vista-grows-silicon-valley-footprint-with-113m-purchase\/\",\"name\":\"Vista Grows Silicon Valley Footprint With $113M Purchase - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/vista-grows-silicon-valley-footprint-with-113m-purchase\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/vista-grows-silicon-valley-footprint-with-113m-purchase\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Vasona-Tech-Park.jpg\",\"datePublished\":\"2018-01-12T13:03:27+00:00\",\"dateModified\":\"2022-12-09T10:23:47+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/vista-grows-silicon-valley-footprint-with-113m-purchase\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/vista-grows-silicon-valley-footprint-with-113m-purchase\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/vista-grows-silicon-valley-footprint-with-113m-purchase\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Vasona-Tech-Park.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Vasona-Tech-Park.jpg\",\"width\":800,\"height\":620},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/vista-grows-silicon-valley-footprint-with-113m-purchase\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Vista Grows Silicon Valley Footprint With $113M Purchase\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\",\"name\":\"Gail Kalinoski\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"caption\":\"Gail Kalinoski\"},\"description\":\"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/gail-kalinoski\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Vista Grows Silicon Valley Footprint With $113M Purchase - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/vista-grows-silicon-valley-footprint-with-113m-purchase\/","og_locale":"en_US","og_type":"article","og_title":"Vista Grows Silicon Valley Footprint With $113M Purchase","og_description":"Cushman & Wakefield\u2019s Northern California team marketed the property on behalf of the seller, The Carlyle Group.","og_url":"https:\/\/www.commercialsearch.com\/news\/vista-grows-silicon-valley-footprint-with-113m-purchase\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2018-01-12T13:03:27+00:00","article_modified_time":"2022-12-09T10:23:47+00:00","og_image":[{"width":800,"height":620,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Vasona-Tech-Park.jpg","type":"image\/jpeg"}],"author":"Gail Kalinoski","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/vista-grows-silicon-valley-footprint-with-113m-purchase\/","url":"https:\/\/www.commercialsearch.com\/news\/vista-grows-silicon-valley-footprint-with-113m-purchase\/","name":"Vista Grows Silicon Valley Footprint With $113M Purchase - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/vista-grows-silicon-valley-footprint-with-113m-purchase\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/vista-grows-silicon-valley-footprint-with-113m-purchase\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Vasona-Tech-Park.jpg","datePublished":"2018-01-12T13:03:27+00:00","dateModified":"2022-12-09T10:23:47+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/vista-grows-silicon-valley-footprint-with-113m-purchase\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/vista-grows-silicon-valley-footprint-with-113m-purchase\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/vista-grows-silicon-valley-footprint-with-113m-purchase\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Vasona-Tech-Park.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Vasona-Tech-Park.jpg","width":800,"height":620},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/vista-grows-silicon-valley-footprint-with-113m-purchase\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Vista Grows Silicon Valley Footprint With $113M Purchase"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57","name":"Gail Kalinoski","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","caption":"Gail Kalinoski"},"description":"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/gail-kalinoski\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Vasona-Tech-Park.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004203468","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1068"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004203468"}],"version-history":[{"count":5,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004203468\/revisions"}],"predecessor-version":[{"id":1004622381,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004203468\/revisions\/1004622381"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004203498"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004203468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004203468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004203468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}