Tech company sells part of Silicon Valley campus to real estate group

SUNNYVALE — A tech company has sold to a veteran real estate company a Sunnyvale site where the tech company has been operating locally.

The office and research building was bought for $31 million, according to documents filed on Jan. 20 with the Santa Clara County Recorder’s Office.

Fujitsu North America sold the building to an affiliate of San Francisco-based PSAI Realty Partners, the county property records show.

PSAI is active in the Bay Area real estate sector, with a number of purchases and sales in the Silicon Valley market in recent years.

The just-sold two-story building totals 134,200 square feet, according to an archived version of a building sales brochure that JLL, a commercial real estate firm, circulated.

“The property is currently 100% occupied by Fujitsu North America, which will execute a leaseback through September 2023 and vacate upon expiration,” the JLL marketing package stated.

The building was constructed in 1980, the JLL brochure states. The structure sits atop a parcel totaling about 8.3 acres, county property records show.

A few years ago, a big campus next to the just-sold Cobalt Way building that Fujitsu occupies was bought by a veteran real estate company.

In 2020, Menlo Park-based Lane Partners paid $104 million to buy six buildings on East Arques Avenue in Sunnyvale.

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