In a recent transaction, Ingrasys Technology, a subsidiary of Foxconn specializing in cloud infrastructure, has purchased a 26.3-acre tech campus in Sunnyvale for $128 million. The complex consists of six buildings and was previously owned by Lane Partners who acquired it from Fujitsu for $104 million in 2020 with plans to convert it into single-story industrial space.
The property is located at 1230-1280 E. Arques Ave and spans over 313,740 square feet of office space which can accommodate up to 1,500 employees according to SiliconValley.com.
While the reason behind Ingrasys’ acquisition has not been publicly disclosed yet, the Business Times reported that JLL’s team consisting of Greg Matter,Bart Lammersen,Davis Sesi,and David Ross marketed the property on behalf of Lane Partners.Matter also mentioned that he was informed about Ingrasys’ purchase being aimed towards enhancing operations and meeting customer demand.
This deal marks another significant investment by Foxconn’s subsidiary as they continue to expand their presence in the tech industry through strategic acquisitions like this one.
