A joint venture between New York-based The Praedium Group LLC and California-based South Bay Development Co. recently sold the Coronado/Stender Business Park in Santa Clara, Calif., for $34.5 million.
Southern California-based Adler Realty Investments Inc. purchased the 227,600-square-foot property, which includes seven buildings on approximately 15.8 acres. The property was built in 1974.
The sellers had purchased the property in March 2005 — their fifth joint venture — for an undisclosed price.
At the time of sale, the asset was 100 percent occupied by tenants that included Integrated Device Technology, Toppan Photomask and Daystar Technologies.
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