Real estate management firm Northridge Capital has teamed up with Kamco Invest to buy The Campus at Lawson Lane – the Global Headquarters for ServiceNow, Inc. – located in Santa Clara, in the heart of Silicon Valley. Terms of the deal weren’t released.
The state-of-the art Class A office campus consists of three (3) buildings – two (2) five-story office buildings each comprised of approximately 155,000 square feet, and a three-story amenity building that offers a full-service cafeteria, gym facilities with daily fitness classes, and social gathering hubs for employees. This acquisition marks the third completed transaction between Northridge Capital, the Washington, D.C.-based real estate investment and asset management firm, and Kamco Invest, the Kuwait-based asset management and investment banking firm.
The newly acquired corporate campus totals 328,867 square feet and is 100% leased to ServiceNow, Inc., offering more than 15 years of remaining lease term. ServiceNow, an Investment Grade-rated (S&P: BBB+) tenant, is a cloud company with a proprietary suite of applications that automates and standardizes workflow, processes and integration-related business activities for thousands of customers globally
The Campus at Lawson Lane was constructed in 2013 and features state-of-the-art architectural design, functional ±33,000 square foot floor plates, 14′-16′ slab-to-slab heights, exterior terraces and both surface and structured parking. The Campus sits on 8.8 acres in a highly amenitized area of Santa Clara, just north of the Central Expressway and in the heart of Silicon Valley. The Campus is within three minutes walking distance of the Whole Foods-anchored Santa Clara Square retail center and five minutes from Lawrence Caltrain Station, which offers access to the rest of the Valley as well as San Francisco.
“We are thrilled to begin 2020 by purchasing another institutional, Class A office asset in partnership with Kamco Invest. We look forward to continuing to identify and acquire similar high quality assets and aim to significantly expand our portfolio in the coming months and years, with a focus on both gateway and secondary markets in the US,” said David Jackson, Founder & President of Northridge Capital.