Bluerock has acquired Hewlett Packard Enterprises’ Juniper Networks headquarters campus in Sunnyvale in a sale-leaseback transaction valued at $330.7 million. Following the sale, HPE leased the property back from Bluerock, committing to a lease that runs through 2047 and keeping a long-term presence at the campus.
The property is located in a commercial area of Sunnyvale near Moffett Field and serves as the headquarters campus for Juniper Networks, which HPE acquired in 2025 in a $14 billion transaction, according to the Silicon Valley Business Journal. The campus includes an eight-story office building totaling approximately 319,000 square feet, positioning it as a sizable office asset within the local corporate landscape.
To fund the acquisition, Bluerock secured $310 million in financing from a lending group led by Wilmington Trust. The financing structure was not further detailed in the source, but it underscores the role of institutional lenders in backing large corporate real estate transactions tied to long-term tenancy.
The sale-leaseback allows HPE to unlock capital from its real estate while retaining operational control of the campus through a long-duration lease. By remaining in place as the tenant, HPE continues to occupy the Juniper Networks headquarters facilities while shifting ownership of the real estate to Bluerock.
HPE also retains ownership of another major building on the same campus at 1137 Innovation Way, according to the report. This remaining ownership interest suggests that HPE continues to have a meaningful real estate footprint at the site even after the sale-leaseback of the Juniper Networks headquarters building.
While HPE’s corporate headquarters is located in Houston, the company maintains a significant presence in the Bay Area. In addition to the Sunnyvale campus, HPE has an office at 6280 America Center Drive in North San Jose, reinforcing its ongoing operational base in the region.
The transaction reflects a broader corporate real estate strategy in which companies monetize owned assets while securing long-term occupancy via leaseback structures. For HPE, the approach generates proceeds from a sizable office asset without disrupting its campus operations, while investors such as Bluerock gain exposure to a large, fully leased office property with a long-term corporate tenant.
