In a recent transaction, Ingrasys Technology, a subsidiary of Foxconn specializing in cloud infrastructure, has acquired a 26.3-acre tech campus in Sunnyvale for $128 million. The complex consists of six buildings with addresses at 1230-1280 E. Arques Ave and offers a total of 313,740 square feet of office space.
According to reports from the San Francisco Business Times and SiliconValley.com , the seller was Lane Partners who had purchased the property from Fujitsu for $104 million in 2020 with plans to convert it into single-story industrial use. However, Ingrasys saw potential in the site and decided to acquire it instead.
The JLL team consisting of Greg Matter, Bart Lammersen, David Sesi and David Ross represented Lane Partners during the marketing process. According to Matter’s statement reported by Business Times , Ingrasys’ decision was driven by their desire to enhance operations and meet customer demand.
This acquisition is expected to support Ingrasys’ growth strategy as they continue expanding their presence in cloud infrastructure services under Foxconn’s umbrella company.
