CUPERTINO, Calif.--(BUSINESS WIRE)--Cushman & Wakefield (NYSE: CWK) recently announced the firm has represented PMP Tech, a Taipei, Taiwan-headquartered company, in the investment acquisition of a six-building office/R&D portfolio in Cupertino (Silicon Valley), California. Fully leased to a leading global tech company, the single-tenant portfolio totals 136,105 square feet and sold for $98 million. The seller was Real Estate Trust at Silicon Valley Community Foundation.
Tenny Tsai, Senior Managing Director with Cushman & Wakefield’s San Jose office represented the buyer in the transaction.
“This portfolio presented a rare, secure asset with strong, long-term credit tenancy in a very desirable Cupertino location, which appealed greatly to my client as a long-term investment,” said Tsai, who has served as PMP Tech’s exclusive broker representative since 2012 and has worked with the group on several asset acquisitions. “PMP Tech has remained bullish on U.S. real estate, and particularly assets with credit tenants in top performing markets such as Silicon Valley.”
Established for more than 40 years, PMP Tech is a leading product supplier to many major multinational clients all over the world. Through real estate investment, PMP Tech is able to create stable cash income whereby also creating the sustainability for its charitable ability. PMP Tech will continue to use its charitable funds to support education and support innovative research to enhance human wellbeing.
The Cupertino portfolio consists of a cluster of six single-story office/R&D buildings conveniently located near Highways 280 and 85 and accessible to many amenities in close proximity.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 53,000 employees in 400 offices and 60 countries. In 2019, the firm had revenue of $8.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.