955-965 E. Arques Sunnyvale, CA
- 85,000 SF Office/R&D project 100% leased to three tenants.
- 40% of the space was dark with 2 years lease term remaining.
- Purchased in 2014 from an institutional seller.
- Graymark executed a minor exterior renovation to improve curb appeal.
- Business plan is to increase rents by 30% to current market upon lease rollover.
- Attractive creative office space highly desirable to technology tenants in a tight submarket.
- Strong cash flow in place.
- Lease signed with credit tenant on 60% of SF, achieved a 50% increase from prior rents.