Investment firm W. P. Carey & Co. LLC acquired a corporate office building in Sunnyvale, Calif., and a research and development/office facility in Allen, Texas.
The total acquisition price of the two facilities was $29.1 million.
The 252,000-square-foot facilities will be leased for an initial term of 15 years, followed by two 10-year renewal options.
Finisar Corp., a fiber-optics technology company, sold the California property. FSI International Inc., a manufacturer of capital equipment for the microelectronics industry, sold the Texas property.
In conjunction with the transaction, Finisar Corp. announced that it would move its Advanced Optical Components Division into the Allen, Texas, facility once it completes necessary upgrades, including upgrading the current clean room space to class 100, over the next 12 months.
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