SUNNYVALE — A big Sunnyvale building occupied by tech titan Apple has been bought in a deal that shows pockets of strength can defy the ailments of a feeble Bay Area office market.
A veteran real estate firm paid $41 million for the office and research building in Sunnyvale, according to documents filed on Aug. 28 at the Santa Clara County Recorder’s Office.
An affiliate managed by BentallGreenOak bought the office and research building, which is located at 825 Stewart Drive in Sunnyvale, the county real estate records show.
The building totals nearly 75,400 square feet and for several years has been fully leased to Cupertino-based Apple.
The purchase by BGO 825 Stewart, the BentallGreenOak affiliate, points to rising property values for the office and research building, which occupies 4.3 acres.
In 2016, the seller, an affiliate of real estate firm GI Partners, paid $34.7 million for the office building, county records show.
The deal demonstrates that even though sky-high office vacancies haunt the Bay Area, some properties are still gaining value.