Tishman Speyer has completed the sale of 400 Castro Street, a fully leased Class A office building in downtown Mountain View, California. Spear Street Capital acquired the asset in a transaction valued at $121.5 million. The property is positioned in the heart of Downtown Mountain View and is surrounded by a mix of restaurants and retail offerings.
The 138,000-square-foot office building was developed by Tishman Speyer in 2002. Upon completion, the company leased the entire office component to law firm Fenwick & West. According to Tishman Speyer, Fenwick & West has remained a customer in the building since that initial lease-up, and the property was 100% leased at the time of the recent sale.
Tishman Speyer describes the disposition as one of the strongest pricing outcomes for a Mountain View office sale in recent years. The combination of full occupancy, long-term tenancy and Class A quality contributed to the positioning of the asset in the local investment sales market.
400 Castro Street offers a range of on-site features including expansive roof decks, underground parking and views of the San Francisco Bay and surrounding coastal mountains. The property benefits from a central location with convenient access to area highways and Caltrain service, enhancing connectivity for tenants and visitors.
The building is integrated into a walkable downtown environment and is surrounded by a variety of food and beverage options and other retail uses. On-site retail at the property includes Cascal restaurant, Peet’s Coffee and Sweetgreen, providing additional amenities for office users and contributing to the vibrancy of the immediate streetscape.
On the transaction side, Tishman Speyer was represented by an Eastdil Secured team led by Nate Jones. The representation covered the seller’s interests in marketing and closing the disposition of 400 Castro Street to Spear Street Capital.
