USAA Acquires LEED Gold-Certified Office Campus and Adjacent Development Site in Silicon Valley

December.23.2013

Orrick has advised USAA Real Estate Company on its acquisition of America Center, a 430,852 square foot Class A office campus in San Jose, California, as well as an adjacent development site. When completed, the fully developed America Center will consist of four buildings totaling over 850,000 square feet.  America Center serves as the headquarters location for leading high-tech corporations Polycom and Flextronics.  The development site has been acquired in a Joint Venture with Legacy Partners, America Center's original developer, and Legacy will be USAA's development partner on Phase II.  America Center is located in San Jose, bordering Sunnyvale and Santa Clara on Highway 237.

This acquisition is part of a key objective by USAA Real Estate to invest in high growth technology markets. The USAA portfolio consists of office, industrial, multi-family, retail and hotel properties, as well as investments in real estate operating companies.

The Orrick team was led by real estate partner Michael Liever and included real estate associates Ari Grey and Jacobus Machalow, as well as public finance partner John Knox and environment counsel Robert Lawrence.