Feb 25 2013
Principal Real Estate Investors, one of the largest institutional real estate managers in the United States, broke ground at Sunnyvale Business Park last week in Sunnyvale, Calif.
Artist's rendering (Photo: Principal Real Estate Investors)
Construction of the Class A office building will take roughly seven months to reach shell completion. The three-story, 107,000 square foot property will become the 10th building in the Sunnyvale Business Park, which is located at Mathilda and Evelyn Avenues. The project, which is being built speculative, is located within one block of the Sunnyvale Caltrain station and downtown Sunnyvale amenities.
“Sunnyvale Business Park is a proven location for high quality companies. The park is in an ideal setting, with close proximity to the Caltrain station, downtown Sunnyvale, and main thoroughfares. The new 107,000-square-foot building will be a great addition to the existing 520,000-square-foot park,” said Jeff Uittenbogaard, senior asset manager at Principal Real Estate Investors.
The building will feature a steel frame and concrete wall panels. It will be built according to specifications necessary to achieve Leadership in Energy and Environmental Design (LEED) Gold certification. Legacy Partners is providing development services and serves as the park’s property manager. Dave Sandlin, Susan Gregory, and Kevin Moul with Colliers are the listing agents. Ware Malcomb is project architect and the general contractor is Lusardi Construction.