Consolidated Tomoka Lands $30M Office Building
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The property located at 3600 Peterson Way in Santa Clara, Calif.
Santa Clara, Calif.—Consolidated-Tomoka Land Co. has announced the purchase of a single-story, Class A, two-tenant office building in Santa Clara, Calif., for $30 million. The transaction was partially funded using the proceeds from the recent land sales of a 17-acre and 4.5 acre site, as well as the sale of a vacant PNC property.. The balance of the purchase is expected to be part of a 1031 like-kind exchange.
Located at 3600 Peterson Way, the property is immediately adjacent to the newly developed Campus at 3333, a 1.5 million-square-foot office development by Beacon Capital and Menlo Equities. The property is also close to the 218,000-square-foot office building recently purchased by Boston Properties and near Santa Clara Square, the $1.0 billion mixed-use project developed by Irvine Co.…
