Santa Clara, CA – Ellis Partners announced today that it has finalized the purchase of the Campus at Scott, a three-building, mid-rise 460,000-square-foot Class A office complex in Santa Clara, California. The properties are located at 3315, 3325, and 3355 Scott Boulevard and are being acquired in partnership with Boston-based investment manager The Baupost Group.
The seller was New York-based Clarion Partners. The purchase price was not disclosed.
“We are thrilled to add these high-quality buildings to our growing portfolio of Silicon Valley office and R&D assets,” said Kevin Bocci, Senior Vice President at Ellis Partners. “We were attracted to the intrinsic qualities of the buildings – timeless architecture, high-quality interiors and excellent natural light. Coupled with our planned investment to upgrade the Campus’ amenities including fitness, food, and outdoor areas, we are excited to reintroduce the project and partner with Silicon Valley companies on their real estate needs going forward.”
According to Bocci, the investment comes at a time of significant renewed leasing activity in Silicon Valley and a national flight to quality within the office sector. Situated at the heart of this dynamic region and surrounded by some of the technology industry’s most recognizable and profitable companies, the Campus at Scott is well-positioned to serve Silicon Valley’s next phase of growth. Tenants will be able to take advantage of shared courtyards, fitness, and recreation amenities, while benefiting from immediate walkable access to a broader set of retail and dining options at the iconic Santa Clara Square.
“Having witnessed the dynamism of the Valley ecosystem through multiple cycles, we have high conviction that providing quality and amenitized workplaces to the market in Class A settings like the Campus at Scott will continue to be a winning thesis,” said Jason Morehouse, Chief Investment Officer at Ellis Partners. “We would like to thank Clarion Partners, both for their long-term stewardship of the assets, as well as their partnership over the past several weeks as they’ve transitioned ownership to us.”