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11/19/14
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Office REIT Kilroy Realty Corporation recently purchased Chesapeake Commons, a four-building, 261k sf office project in Sunnyvale’s Moffett Park District. The asset, located at 1310-1327 Chesapeake Terrace, was sold by DivcoWest for around $98 mil.
From what we understand, DivcoWest purchased the property, formerly known as Carribean Corporate Center, in early 2013 for about $71 mil. Current tenants at Chesapeake Commons include Accuray, a cancer treatment firm, and Cepheid, which does molecular diagnostics.
Attorney Pete Roth of Allen Matkins represented Kilroy Realty Corporation on the purchase. Dan Ball represented Divco on the sale to Kilroy.
West LA-based Kilroy specializes in office development and has more than 5 msf of office space existing, or under construction, in its portfolio. Kilroy recently leased a 587k sf, three-building Sunnyvale campus to LinkedIn and is currently building the 340k sf 350 Mission St project, leased to Salesforce.
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