Academy Distribution Center Katy
US - Katy, TX
Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive advisor, is pleased to present the opportunity to acquire the fee simple interest in 825 Stewart Drive (“825 Stewart” or the “Property”), a partial two-story, 75,350 square foot R&D asset located in Sunnyvale, California. Situated on a 4.3-acre site, 825 Stewart is 100% leased to Apple Inc. (“Apple” - S&P: AA+) for 6.67 years (exp. 04/2030). Apple maintains an extensive footprint in Silicon Valley, occupying over 15 million square feet with 3.9 million square feet in Sunnyvale alone. Strategically positioned among a mass of Apple tenancy, the Property is a highlyspecialized R&D facility.
The Property underwent a full renovation in 2015 with approximately $5 million of capital investment, which is not inclusive of the substantial additional capital spent by Apple to improve the Property’s highly specialized R&D infrastructure. Apple’s growing footprint in Silicon Valley, coupled with its significant capital investment at the Property, underscores the stickiness of Apple’s tenancy and its long-term commitment at 825 Stewart.
825 Stewart offers investors the rare opportunity to acquire an Apple-leased, highly-specialized R&D asset in one of the world’s top performing submarkets.