{"id":1004537015,"date":"2021-05-24T05:36:33","date_gmt":"2021-05-24T13:36:33","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004537015"},"modified":"2022-12-08T17:53:17","modified_gmt":"2022-12-09T01:53:17","slug":"embarcadero-capital-sells-silicon-valley-asset-for-29m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/embarcadero-capital-sells-silicon-valley-asset-for-29m\/","title":{"rendered":"Embarcadero Capital Sells Silicon Valley Asset for $29M"},"content":{"rendered":"<div id=\"attachment_1004537017\" style=\"width: 310px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004537017\" data-attachment-id=\"1004537017\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/embarcadero-capital-sells-silicon-valley-asset-for-29m\/475-oakmead\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/475-Oakmead.jpg\" data-orig-size=\"1000,800\" 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=\"475 Oakmead\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;475 Oakmead Parkway&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/475-Oakmead.jpg?w=1000\" class=\"wp-image-1004537017 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/475-Oakmead.jpg?w=300\" alt=\"\" width=\"300\" height=\"240\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/475-Oakmead.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/475-Oakmead.jpg?resize=300,240 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/475-Oakmead.jpg?resize=768,614 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><p id=\"caption-attachment-1004537017\" class=\"wp-caption-text\">475 Oakmead Parkway<\/p><\/div>\n<p>Embarcadero Capital Partners has sold an office property in Sunnyvale, Calif., for $28.8 million, according to Santa Clara County records.<\/p>\n<p>A group of three separate LLCs, represented by the same individual, acquired the asset, the records show, with interest divided between the parties. The sale was subject to a $13.5 million loan, provided by Goldman Sachs.<\/p>\n<p>According to CommercialEdge, Embarcadero Capital Partners acquired the property in 2017 from TA Realty, for $15.3 million.<\/p>\n<p>The 57,310-square-foot R&amp;D office is located at 475 Oakmead Parkway. The single-story building was initially constructed in 1979 and received a full renovation in 2008. It offers 189 grade-level parking spaces. According to CommercialEdge, Alpha &amp; Omega Semiconductor is the property&#8217;s sole tenant.<\/p>\n<p>A large variety of tech and life science companies have offices in the area. The site provides immediate access to Bayshore Freeway and Lawrence Expressway, while downtown Sunnyvale is less than 5 miles away.<\/p>\n<p>Embarcadero Capital Partners also owns the Horizon office property\u2014situated less than half a mile north at 1230-1290 Oakmead Parkway. The company\u2019s footprint covers 1.6 million square feet of office space in the Bay Area, according to CommercialEdge. Last year, Embarcadero Capital <a href=\"https:\/\/www.commercialsearch.com\/news\/hearst-buys-creative-office-asset-in-san-francisco\/\">sold a creative office asset<\/a> for $52 million in San Francisco\u2019s SoMa district.<\/p>\n<p>The Silicon Valley R&amp;D market is slowly improving, despite vacancies reaching nearly 12.9 percent in the first quarter, while net absorption remained negative, according to a recent Newmark report. Asking rates have been steadily increasing over the past five quarters, highlighting continued confidence in the market, the same report indicates. Sunnyvale had a vacancy rate of 7 percent at the end of the first quarter, on an inventory of 19.5 million square feet of R&amp;D office space.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to CommercialEdge data, the sale price of the R&amp;D property has nearly doubled since its previous trade.<\/p>\n","protected":false},"author":1284,"featured_media":1004537017,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21742,21747,1609,15],"tags":[37135,33435,50999,32822],"class_list":["post-1004537015","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-latest","category-office","category-san-francisco","category-west","tag-embarcadero-capital","tag-goldman-sachs","tag-newmark","tag-ta-realty"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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He joined CPE and MHN in 2017 and is passionate about doing research for the two publications. 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