Newmark Completes Sale of 100% Leased R&D Campus in Silicon Valley

Photo Credit to Jeff Peters.

February 10, 2025 9:00 AM

Newmark announces the firm has arranged the sale of Mathilda Tech Park, a two-building, 105,000-square-foot technology R&D campus in Silicon Valley’s Sunnyvale submarket leased to an American multinational technology conglomerate with a large Bay Area presence. The property sold for an undisclosed amount.

Newmark Executive Vice Chairman and President, Western Region Capital Markets Steven Golubchik, Executive Vice Chairman Ramsey Daya, Vice Chairman Edmund Najera, Executive Managing Director Chris Moritz, Managing Director Darren Hollak, Associate Director Francesca Zappula and Associate Director Brendan Raney represented both the seller, Clarion Partners, and the buyer, Ellis Partners, in the transaction.

“The Mathilda Tech Park marketing process yielded a deep buyer pool from a wide variety of capital sources and resulted in a swift execution for our client,” said Najera. “Investors are gaining increasing confidence in the leasing markets and are eager to gain scale in Sunnyvale.”

“We are thrilled to acquire Mathilda Tech Park and add it to our portfolio of Silicon Valley properties,” said Jim Ellis, Co-Founder and Managing Principal of Ellis Partners. “We are planning a significant renovation and modernization of the property, including modernized façade, lobbies, and courtyard improvements, to elevate its positioning as the overall market continues its recovery and enters the next growth phase.”

Mathilda Tech Park is a premier R&D campus situated on 5.2 acres and comprised of two 52,500-square-foot two-story buildings located at 755 N Mathilda Avenue and 680 Vaqueros Avenue in Sunnyvale. The campus features 16-foot clear heights, robust power, at-grade loading, signage visible from North Mathilda Avenue, ample parking and an outdoor amenity area.

Centrally located within Sunnyvale’s Peery Park, the property is surrounded by some of the world’s most innovative companies, including Apple, Google and LinkedIn, while offering convenient access to executive and employee housing via Highways 101 and 237, and the Caltrain bullet stop. Additionally, the property is a four-minute drive to downtown Sunnyvale, providing tenants immediate access to a robust retail amenity base.

Over the past year, Sunnyvale has led the South Bay with a 6.3% year-over-year gain in asking rent growth, according to Newmark Research. The Sunnyvale R&D market consists of 15.9 million square feet of product with a total vacancy rate of 10.9%. Sunnyvale is outperforming the broader Silicon Valley R&D market, which has 114.3 million square feet and a total vacancy rate of 13.4%.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended September 30, 2024, Newmark generated revenues of approximately $2.6 billion. As of that same date, Newmark’s company-owned offices, together with its business partners, operated from nearly 170 offices with more than 7,800 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

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