Tech Company Pays $85M for Silicon Valley Office Building
The buyer, an affiliate of Deere & Co., subleased the property in July.
3303 Scott Blvd.
Blue River Technology has purchased an 83,590-square-foot office building in Santa Clara, Calif., for $85 million, according to CommercialEdge data. The seller, Toeniskoetter Development, constructed the 2015-completed property.
Owned by Deere & Co., the buyer is a farm robotics technology company, which subleased the property in July of this year. Back in March, Deere opened its new tech hub in Austin, Texas, occupying the upper two floors of a Clarion Partners office building.
Located at 3303 Scott Blvd., the Class A office asset is equipped with two passenger elevators, 27,146-square-foot floor plates, controlled access and 288 parking spots. The four-story building is situated on a 2.5-acre lot close to Interstate 280, providing access to San Francisco. The property is 6.9 miles from downtown San Jose, Calif., and within 7 miles of Mountain View, Calif.
According to recent CommercialEdge data, the San Francisco Bay Area was one of the top markets for office transactions during the first half of 2022, ranking second on the list, after Los Angeles. The metro’s sales volume in the first six month of the year amounted to $2.4 billion, at an average price of $497 per square foot.
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