Rubicon Point Wraps Sale of 2 Assets in Silicon Valley
- Apr 02, 2015
As Silicon Valley continues to entice investors, Rubicon Point Partners recently announced that it has completed sale agreements valued at a combined $40 million for two office properties. According to Ani Vartanian Boladian, managing partner with Rubicon Point, the deals reflect the firm’s strategy of repositioning each asset for a “superior use for office space” within 18 months. So far the buyers remain unidentified.
The properties are located at 274-282 Castro Street in Mountain View and 1870 Embarcadero Road in Palo Alto, respectively. The seller worked with an HFF investment sales team comprising senior managing director Steven Golubchik, directors John Simerlein and Ben Bulloc, and Josh DiSalle a senior analyst.
The Mountain View asset offers a total of 30,446 square feet of office space in a part of the city that features a Baby Bullet Caltrain Stop connecting San Francisco with San Mateo and Santa Clara counties. The two-story building underwent extensive renovations in 2002, and additional improvements in 2012. Quixey, a leading mobile app search service, is the sole tenant.
The 30,752-square-foot Palo Alto building is likewise fully leased; its sole tenant is the local office of Sullivan & Cromwell, a global law firm. The property was most recently renovated in 2011, and offers direct access to the Palo Alto Baby Bullet Caltrain stop via the Embarcadero Shuttle and the Marguerite Shuttle.