Sprint Santa Clara Center Sold for $95.7 Million

Stream Realty Partners has sold a 160,000 square foot Santa Clara, Calif. data center to Inland Western Retail Real Estate Trust Inc., for $95.7 million, the Silicon Valley Business Journal reports, citying SEC filings. The center at 1350 Duane Ave. was fully leased to Sprint, and was bundled with a 25,300-square-foot building at 3080 Raymond St. The price for the buildings works out to about $515 per square foot.

The sale is the latest in a series of blockbuster deals for California data centers. The buildings were among four properties bought in June by a fund managed by Dallas-based Stream Realty Partners, which also acquired a never-occupied 107,000 square foot data center in Newark.

Stream Realty, an investment and development services firm, was formed a decade ago by former Trammell Crow Co. dealmakers Lee C. Belland and Michael J. McVean.

Stream is actively marketing the Newark site, a former WorldCom building completed in 2001 along Eureka Avenue on Newark’s western fringe. The firm’s remaining Santa Clara holdings include a 30,000-square-foot building at 870 Duane leased to Qwestb for another 10 years, and a 21,000 square foto site at 3075 Raymond leased by Electric Lightwave.

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About the Author

Rich Miller is the founder and editor at large of Data Center Knowledge, and has been reporting on the data center sector since 2000. He has tracked the growing impact of high-density computing on the power and cooling of data centers, and the resulting push for improved energy efficiency in these facilities.