Pacific Coast Capital Partners purchased a 13-story, 232,955-square-foot office building in Santa Clara, Calif., as well as an adjacent six-acre parking parcel and a one-acre development site.
The value of the transaction was more than $40 million.
Miami-based Lennar Partners, who took ownership of the property after a lengthy foreclosure process, sold the property, which was built in 1986. The purchase of all three parcels by PCCP brought resolution to the parking issue as well as the associated litigation. Under the new ownership, the building, located at 2350 Mission College Blvd., will be renamed Mission City Center.
At the time of sale, the building was 65 percent occupied by 39 different tenants.
Pacific Coast Capital Partners LLC a full-service real estate investment firm and lender.
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