Class A Property Spans 445,967 Square Feet at 350 to 380 Ellis Street

SAN FRANCISCO/MOUNTAIN VIEW (July 14, 2021) – TMG Partners, one of the San Francisco Bay Area’s largest mixed-use property developers, and the Real Estate business within Goldman Sachs Asset Management (Goldman Sachs) announced today the acquisition of a 445,967-square-foot Class A office campus at 350-380 Ellis Street in Mountain View, California. The seller, NortonLifeLock, is leasing back one of the property buildings.

“TMG sees this acquisition of a fully amenitized campus as an ideal addition to our portfolio and greater Silicon Valley strategy for accommodating the evolving workforce in this submarket,” said Ben Kochalski, Regional Partner with TMG Partners. “With Newmark leading our leasing outreach, we believe the interconnectivity of the campus, the indoor/outdoor amenities, and the adherence to health and wellness at the workplace will entice best-of-breed companies to headquarter here.”

                                               
350-380 Ellis Street, Mountain View            Image courtesy of TMG Partners

The property, situated in the heart of Silicon Valley, was constructed with high-quality architectural design and innovative features. Buildings A, B, C and D are each four-story premier, Class A office buildings that are interconnected in a U-shape surrounding the main campus area. The connectivity between all four buildings on nearly every floor provides a unique and walkable corporate environment.

Immediately adjacent, and accessible via both open and covered walkways, is the single-story amenity building (Building E). Campus amenities include open work environments, expansive meeting/conference rooms, kitchen/break areas on each floor, and collaborative space. Additionally, there is a full-service Union 82 Restaurant & Gastropub restaurant and all-hands meeting area in Building E, an on-site multi-story parking structure, a bocce ball court, tennis court, sand volleyball court and numerous outdoor patios.

Lobby Interior                                  Image courtesy of TMG Partners

The recently completed headquarter lobby renovation and Client Experience Center offers best-in-class, curated experience for clients, featuring hospitality suites, briefing/board rooms, technology demonstration rooms, pre-function space, integrated technology as well as a multi-functional outdoor patio. Completed in late 2018, the estimated project cost was $22 million.

Newmark’s Executive Managing Director Jon Mackey, Vice Chairman Mike Saign and Executive Vice Chairman Phil Mahoney are the leasing agents for the property. 

About TMG Partners

TMG Partners, founded in 1984 and headquartered in San Francisco, is a full-service real estate development and management company. One of the most active developers in the Bay Area Region, TMG has a portfolio of more than 30 million square feet across Oakland, San Francisco, San Jose, and other Bay Area cities that includes a variety of office, retail, residential, and industrial properties, ranging from office campus and multi-story properties in urban-infill locations to mixed-use and single-story suburban buildings. For detailed information, visit TMG Partners.

About Goldman Sachs Asset Management Real Estate

Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2 trillion in assets under supervision worldwide as of June 30, 2021. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Goldman Sachs Asset Management invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate and infrastructure.  Established in 1991, the Real Estate business within Goldman Sachs Asset Management is one of the largest investors in real estate with over $50 billion in assets invested since 2012 across the spectrum of investment strategies from core to opportunistic.  Our global team invests across all sectors with deep expertise across the capital structure, in assets ranging from single properties to large portfolios, through senior mortgages, mezzanine debt and equity. Follow us on LinkedIn.

About Newmark

Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate services, with a comprehensive suite of investor/owner and occupier services and products. Our integrated platform seamlessly powers every phase of owning or occupying a property. Our services are tailored to every type of client, from owners to occupiers, investors to founders, growing startups to leading companies. Harnessing the power of data, technology, and industry expertise, we bring ingenuity to every exchange, and imagination to every space. Together with London-based partner Knight Frank and independently owned offices, our 18,800 professionals operate from approximately 500 offices around the world, delivering a global perspective and a nimble approach. In 2020, Newmark generated revenues in excess of $1.9 billion. To learn more, visit nmrk.com or follow @newmark.