Harvest Properties & Invesco Real Estate Acquire Premier Silicon Valley Development Site

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    ±540,000 New State of the Art Sunnyvale Class “A” Office Campus to
    Break Ground Immediately

    OAKLAND, Calif.–(BUSINESS WIRE)–A joint venture between Harvest Properties, a full service commercial
    real estate investment, development and management firm (“Harvest”), and
    its longtime partner Invesco Real Estate, a global real estate
    investment manager (“Invesco”), has acquired a three-building class “A”
    office development site in the heart of Sunnyvale, one of Silicon
    Valley’s most active submarkets. This acquisition marks the eighth joint
    venture that Harvest and Invesco have completed together.

    The fully entitled, shovel-ready development is located in Sunnyvale’s
    desirable Peery Park, just minutes from Downtown Sunnyvale, less than
    one mile to Caltrain and with convenient freeway access to both Highways
    101 and 237. The project totals approximately 540,000 square feet across
    three buildings and can be delivered in phases, allowing a tenant the
    unique opportunity to synchronize their growth plans with the
    commencement of occupancy. The partnership intends to break ground
    immediately and it anticipates it will deliver the first building,
    located at 684 W. Maude Avenue and containing approximately 190,000
    square feet, in the third quarter of 2020.

    This development represents an incredible headquarter campus
    opportunity that will exceed the demands of today’s corporate users,”
    said Preston O’Connell, partner at Harvest Properties. Blair Volckmann,
    partner at Harvest Properties, added, “We will deliver a project that is
    best-in-class new construction with prominent identity, flexible
    scalability, and proximity to both an array of amenities and major
    public and private transportation hubs.”

    The project sits at the epicenter of Silicon Valley’s business
    community and will allow a future tenant access to the world’s best
    technology and innovation labor force. This is the very reason that its
    corporate neighbors include LinkedIn, Apple, Walmart.com, Microsoft,
    Nokia, Riverbed, Alibaba.com, Proofpoint, Synopsys, Twitter, and 23&Me,”
    said Invesco’s Director of Acquisitions, Rohullah Sharifi.

    About Harvest Properties

    Harvest Properties is a vertically-integrated, full-service commercial
    real estate investment firm that specializes in the acquisition,
    repositioning, entitlement, development, management and financing of
    commercial property, primarily through joint-venture investments in
    Northern California. Over the last decade, Harvest has become an
    established leader in the marketplace by generating attractive returns
    for its financial partners, providing creative solutions and outstanding
    service. Harvest Properties’ portfolio comprises approximately ten
    million square feet of office, industrial, R&D and retail properties in
    the San Francisco Bay Area. For more information, please visit www.harvestproperties.com

    About Invesco Real Estate

    Invesco Real Estate is a global leader in the real estate investment
    management business with $65.6 billion in real estate assets under
    management, 496 employees and 21 regional offices across the U.S.,
    Europe and Asia (as of 12/31/18). Invesco Real Estate has been actively
    investing in core, value-add and opportunistic real estate strategies
    since 1992. Invesco Real Estate is a business name of Invesco Advisers,
    Inc., an indirect, wholly owned subsidiary of Invesco Ltd. Invesco Ltd.
    is an independent investment management firm dedicated to delivering an
    investment experience that helps people get more out of life. NYSE: IVZ; www.invesco.com.

    Contacts

    Kathryn Collins, Partner
    Harvest Properties
    (510) 808-5230
    [email protected]