160 Gibraltar Sunnyvale, CA
- Graymark contracted to buy this creative office building in early 2014 from a trade buyer.
- 53,000 SF project leased 100% to a credit tenant, but only 35% occupied.
- Infill location in Silicon Valley near Google, Yahoo! and Juniper headquarters.
- Graymark intended to complete a tenant lease buyout and potential extension on data center space with the tenant.
- A cosmetic renovation was planned to upgrade to creative office space to appeal to tech tenant requirements in this tight market.
- Project sold in 2014 at a healthy profit shortly after.