Office Building Sells for $17.75 million in Mountain View

Real estate continues to change hands in Mountain View, this time with a deal worth $17.75 million.

A 42,622 square-foot, four-story office building has been sold to Peninsula Land & Capital of Menlo Park by San Rafael-based Seagate Properties, Inc., the Marin County company announced Wednesday.

An affiliate of Seagate Properties in 2010 bought the real estate for $9.5 million, from J.D. Molex One LLC, who developed and operated the property, located adjacent to El Camino Real. The building was constructed in 1989.

"Over the past two years, we made a significant capital investment to the physical structure to update base building systems, modernize the building
and make it an attractive location to lease for technology and related businesses looking to locate in Mountain View," said Wick Polite, a principal at Seagate Properties, said. "In addition to significant tenant improvements, we completed building envelope repairs and a new exterior paint scheme, a remodeled lobby, new landscaping, parking lot renovation, HVAC, common area and elevator upgrades, and ADA upgrades throughout."

Tenants at the 2465 Latham St. property, which is 66 percent leased, currently include Guardian Analytics, LyLife.com and Infor Systems.

This was Seagate's only property in Mountain View. They now have 16 remaining corporate properties in California.

The sale was completed on Dec. 27, 2012 with the help and representation of Lawrence Blickman of Cassidy Turley BT Commercial and Dan Persyn of Cassidy Turley who represented Peninsula Land & Capital.

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