SUNNYVALE — A tech company’s office building in Sunnyvale was bought for more than $300 million by investors from New York City, documents show.
New York-based Bluerock paid $330.8 million for an office hub at 1133 Innovation Way, which had been the long-time headquarters of Juniper Networks, documents filed on Aug. 28 with the Santa Clara County Recorder’s Office show.
Hewlett Packard Enterprise (HPE) bought Juniper Networks in July 2025 for $14 billion, a deal that made Juniper a subsidiary of HPE.
A group led by HPE sold the 1133 Innovation office building to a Bluerock affiliate. HPE said the deal is a sale-leaseback agreement whereby HPE will continue to rent the 1133 Innovation office site.
HPE still owns an adjacent office building at 1137 Innovation in the wake of the transaction, HPE spokesperson Adam Bauer said.
The Sunnyvale acquisition will allow HPE to occupy the 1133 Innovation office building for at least two more decades due to the rental agreement signed with Bluerock.
The lease lasts until at least 2047, county documents show. The rental agreement also allows HPE to sign a series of extensions that could add another 14 years.
Bluerock obtained $310 million in financing from a group headed up by Wilmington Trust, county records show.
HPE also occupies a large office site in north San Jose’s Alviso district.