{"id":1004234904,"date":"2018-06-14T04:08:33","date_gmt":"2018-06-14T12:08:33","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004234904"},"modified":"2022-12-08T20:13:31","modified_gmt":"2022-12-09T04:13:31","slug":"silicon-valley-build-to-suit-office-project-lands-150m-loan","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/silicon-valley-build-to-suit-office-project-lands-150m-loan\/","title":{"rendered":"Silicon Valley Build-to-Suit Office Project Lands $150M Loan"},"content":{"rendered":"<p>By Scott Baltic<\/p>\n<div id=\"attachment_1004234906\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1625-Plymouth.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004234906\" data-attachment-id=\"1004234906\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/silicon-valley-build-to-suit-office-project-lands-150m-loan\/1625-plymouth\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1625-Plymouth.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"1625 Plymouth\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;1625 Plymouth&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1625-Plymouth.jpg?w=800\" class=\"wp-image-1004234906 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1625-Plymouth.jpg\" alt=\"1625 Plymouth\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1625-Plymouth.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1625-Plymouth.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1625-Plymouth.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004234906\" class=\"wp-caption-text\">1625 Plymouth<\/p><\/div>\n<p>HFF has arranged $150 million in permanent financing for 1625 Plymouth, a 245,738-square-foot build-to-suit office development in the North Bayshore submarket of Mountain View, Calif.&nbsp;The brokerage firm worked on behalf of Broadreach Capital Partners to secure the fixed-rate loan through New York State Teachers Retirement System.<\/p>\n<p>The loan closing coincided with the completion of the warm shell and the building\u2019s delivery to the tenant for their buildout. According to Yardi Matrix data, Google will occupy the entire property.&nbsp; The Class A, LEED Platinum building will feature multiple outdoor deck spaces for functions and activities.&nbsp;1625 Plymouth is directly off Highway 101 in the heart of Silicon Valley and near some of the Bay Area\u2019s most affluent communities, including Atherton, Palo Alto, Los Altos, Los Altos Hills, Portola Valley and Woodside.<\/p>\n<p>The six-story building is on a site of about 5.15 acres and will also feature a fitness center and redundant power, according to information provided to <em>CPE<\/em> by Yardi Matrix.<\/p>\n<p>The HFF debt placement team consisted of Senior Managing Director Bruce Ganong and Analyst Bercut Smith. HFF was barred from providing additional information, and Broadreach did not reply to <em>Commercial Property Executive<\/em>\u2019s request for further information.<\/p>\n<h2>Low unemployment, strong office market<\/h2>\n<p>In a complex environment of essentially full employment, high housing costs and continued tech growth, the Silicon Valley office market continues to see generally tight vacancies, with net absorption topping 1 million square feet in the first quarter, according to a recent report from Cushman &amp; Wakefield. An estimated 3.2 million square feet under construction is not expected to prevent the average asking rent from remaining around $4.60 per square foot, on a monthly full-service basis.&nbsp;<\/p>\n<p>In one recent lease deal, in January cloud services provider 8&#215;8 took 162,557 square feet at <a href=\"https:\/\/www.commercialsearch.com\/news\/san-jose-office-development-lands-first-tenant\/\">Hunter Properties\u2019 Coleman Highline<\/a> development in San Jose, that project\u2019s first lease.&nbsp;In March, InvenSense Inc., a subsidiary of TDK, <a href=\"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-inks-140-ksf-silicon-valley-renewal\/\">renewed its 139,36-square-foot lease<\/a>&nbsp;at Hudson Pacific Properties\u2019 Concourse VI, also in San Jose.<\/p>\n<p><em>Image courtesy of HFF<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Broadreach Capital Partners&#8217; property is fully leased to tech giant Google. HFF brokered the permanent funding from a major retirement fund.<\/p>\n","protected":false},"author":882,"featured_media":1004234906,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21743,21808,21742,21747,36079,15],"tags":[33434,39121,33286,32792],"class_list":["post-1004234904","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-deals","category-featured","category-latest","category-office","category-san-jose","category-west","tag-broadreach-capital-partners","tag-bruce-ganong","tag-google","tag-hff"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Silicon Valley Build-to-Suit Office Project Lands $150M Loan - 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\/silicon-valley-build-to-suit-office-project-lands-150m-loan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Silicon Valley Build-to-Suit Office Project Lands $150M Loan\" \/>\n<meta property=\"og:description\" content=\"Broadreach Capital Partners&#039; property is fully leased to tech giant Google. HFF brokered the permanent funding from a major retirement fund.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/silicon-valley-build-to-suit-office-project-lands-150m-loan\/\" \/>\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=\"2018-06-14T12:08:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T04:13:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1625-Plymouth.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=\"Scott Baltic\" \/>\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\/silicon-valley-build-to-suit-office-project-lands-150m-loan\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/silicon-valley-build-to-suit-office-project-lands-150m-loan\/\",\"name\":\"Silicon Valley Build-to-Suit Office Project Lands $150M Loan - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/silicon-valley-build-to-suit-office-project-lands-150m-loan\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/silicon-valley-build-to-suit-office-project-lands-150m-loan\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1625-Plymouth.jpg\",\"datePublished\":\"2018-06-14T12:08:33+00:00\",\"dateModified\":\"2022-12-09T04:13:31+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/silicon-valley-build-to-suit-office-project-lands-150m-loan\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/silicon-valley-build-to-suit-office-project-lands-150m-loan\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/silicon-valley-build-to-suit-office-project-lands-150m-loan\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1625-Plymouth.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1625-Plymouth.jpg\",\"width\":800,\"height\":620,\"caption\":\"1625 Plymouth\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/silicon-valley-build-to-suit-office-project-lands-150m-loan\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Silicon Valley Build-to-Suit Office Project Lands $150M Loan\"}]},{\"@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\/61ac1450f3ffaa0e850b834c28526555\",\"name\":\"Scott Baltic\",\"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\/2022\/06\/Scott.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96\",\"caption\":\"Scott Baltic\"},\"description\":\"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Silicon Valley Build-to-Suit Office Project Lands $150M Loan - 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\/silicon-valley-build-to-suit-office-project-lands-150m-loan\/","og_locale":"en_US","og_type":"article","og_title":"Silicon Valley Build-to-Suit Office Project Lands $150M Loan","og_description":"Broadreach Capital Partners' property is fully leased to tech giant Google. HFF brokered the permanent funding from a major retirement fund.","og_url":"https:\/\/www.commercialsearch.com\/news\/silicon-valley-build-to-suit-office-project-lands-150m-loan\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2018-06-14T12:08:33+00:00","article_modified_time":"2022-12-09T04:13:31+00:00","og_image":[{"width":800,"height":620,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1625-Plymouth.jpg","type":"image\/jpeg"}],"author":"Scott Baltic","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\/silicon-valley-build-to-suit-office-project-lands-150m-loan\/","url":"https:\/\/www.commercialsearch.com\/news\/silicon-valley-build-to-suit-office-project-lands-150m-loan\/","name":"Silicon Valley Build-to-Suit Office Project Lands $150M Loan - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/silicon-valley-build-to-suit-office-project-lands-150m-loan\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/silicon-valley-build-to-suit-office-project-lands-150m-loan\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1625-Plymouth.jpg","datePublished":"2018-06-14T12:08:33+00:00","dateModified":"2022-12-09T04:13:31+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/silicon-valley-build-to-suit-office-project-lands-150m-loan\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/silicon-valley-build-to-suit-office-project-lands-150m-loan\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/silicon-valley-build-to-suit-office-project-lands-150m-loan\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1625-Plymouth.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1625-Plymouth.jpg","width":800,"height":620,"caption":"1625 Plymouth"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/silicon-valley-build-to-suit-office-project-lands-150m-loan\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Silicon Valley Build-to-Suit Office Project Lands $150M Loan"}]},{"@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\/61ac1450f3ffaa0e850b834c28526555","name":"Scott Baltic","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\/2022\/06\/Scott.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","caption":"Scott Baltic"},"description":"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1625-Plymouth.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004234904","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\/882"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004234904"}],"version-history":[{"count":4,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004234904\/revisions"}],"predecessor-version":[{"id":1004234944,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004234904\/revisions\/1004234944"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004234906"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004234904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004234904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004234904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}