LeEco Completes Major Silicon Valley Land Purchase
- Jul 20, 2016
San Francisco—Beijing-based tech company LeEco was recently awarded $140 million in financing for the acquisition of a large land site in the San Francisco Bay Area. Mesa West Capital and Hudson Pacific Properties provided the financing, with the deal being arranged by CBRE Capital Markets Institutional Group representative Brad Zampa. This is the Chinese company’s second move in the Bay Area, after in 2015 it inked an agreement for 80,000 square feet of space in San Jose.
Located at 3005 Democracy Way in Santa Clara, the plot of land totals 48.6 acres. Part of the Marriott Business Park, and located within Silicon Valley’s Golden Triangle, the plot is fully entitled and was purchased from tech giant Yahoo!. Following the purchase, LeEco is slated to build a world headquarters office campus totaling roughly 3 million square feet.
With proximity to the 237, 101 and 880 freeways, as well as the headquarters of companies such as Toshiba, Cisco, Samsung, Google, Apple and PayPal, the lot is primed to house a major office campus. “Our short-term floating rate loan will provide LeEco with enough runway to complete their pre-development plan,” Mesa West Capital Vice President Brandon Bachner noted in a press statement. Bachner was a part of the team responsible for originating said loan.
Image via LinkedIn