460 Oakmead Parkway, Sunnyvale, CA, 94085, US

460 Oakmead

Asset Description

Jones Lang LaSalle Americas, Inc., ("JLL"), as an exclusive advisor is pleased to present the opportunity to acquire 460 Oakmead Parkway ("460 Oakmead" or the "Property"), a one-story, 29,368 square foot network switch data center located in Sunnyvale, California. Situated on a 2.0 acre site, 460 Oakmead is 100% leased to Verizon Access Transmission Services ("Verizon" S&P: BBB+) for 7.0 years through May 2031.

Verizon has occupied the Property since 1996, and it operates as a local hub facility, serving as the connection point for other Verizon facilities in the Bay Area. Given its long-standing occupancy at the Property, Verizon has invested a considerable amount of capital expenditure in the space on structural upgrades that support its operations. Verizon’s mission-critical operations at 460 Oakmead and capital investment have resulted in a highly redundant switching facility built for resiliency and underscore the stickiness of Verizon's tenancy.

460 Oakmead offers investors the rare opportunity to acquire a Verizon-leased, network switch data center asset with strong in-place infrastructure in one of the world's top performing submarkets.

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Attributes

Building area net

2,728 m²

Year built

1979

Land area gross

0.85 ha

Occupancy

100%

WAULT

7 years

Media

Investment Highlights

OPPORTUNITY TO ACQUIRE A CREDIT-LEASED NETWORK SWITCH DATA CENTER SITUATED ON 2.0 ACRES IN SUNNYVALE
MISSION CRITICAL ASSET WITH HIGHLY REDUNDANT INFRASTRUCTURE
VERIZON HAS BEEN IN OCCUPANCY SINCE 1996 AND HAS MADE SUBSTANTIAL UPGRADES INCLUDING A RECENT HVAC UPGRADE
7.0 YEARS OF LEASE TERM REMAINING WITH VERIZON (S&P: BBB+)
IDEALLY POSITIONED AMONG SUNNYVALE'S NETWORK INFRASTRUCTURE, ENABLING OPTIMAL CONNECTIVITY AND PERFORMANCE
LOCATED IN A FLOURISHING SUBMARKET PROXIMATE TO A DIVERSE TENANT BASE AND MAJOR THOROUGHFARES