SANTA CLARA, CA—AEW Capital Management LP has purchased the office property at 3111-3141 Coronado Drive in Santa Clara, Calif. The two-building campus was sold by 3111-3141 Coronado Drive Associates, LLC, a venture between Bixby Land Co. and JP Morgan. Terms of thewere not released.
AEW purchased the 127,000-sq.-ft. property on behalf of an institutional client. The entire facility is leased to locally-based Infloblox.
In 2012, the property underwent a renovation to give it a more contemporary look and feel. Theincludes a two-story glass pavilion entrance and an outdoor living room complete with fire pits, couch seating, and an outdoor kitchen.
“This is an opportune time to realize our investment objective following the successful renovation and leasing of the project, said Bill Halford, president and CEO of Bixby Land Co., in a statement. “We set out to create a compelling work environment with the image and high quality amenities sought by today’s companies.”