SAN FRANCISCO—The 97,840-sq.-ft. 3001 Orchard Parkway was purchased for $13.5 million by Ridge Capital Investors LLC and Contrarian Capital Management LLC. The vacant office building will receive a multimillion-dollar renovation over the next eight months.

“Upon completion, 3001 Orchard Parkway will offer a very high quality working environment for a full-building tenant that is seeking a headquarters presence in one of Silicon Valley’s best locations,” said Trevor Wilson, managing director of Ridge Capital Investors, in a statement.

Situated within Silicon Valley’s Golden Triangle, the property has served as a headquarters facility since it was built. Most recently Fairchild Semiconductor inhabited the building.

Andy Zighelboim of Colliers International represented the seller, a joint venture composed of Lane Partners and JER.