Sunnyvale, Calif. — STC Ventures has purchased Sunnyvale Town Center, a 36-acre unfinished mixed-use project located in Sunnyvale, roughly five miles outside Santa Clara.
STC is a joint venture between affiliates of Hunter Storm, Sares Regis Group of Northern California and institutional investors advised by J.P. Morgan Asset Management. Wells Fargo sold the property for an undisclosed price. The buyer plans to first complete the 186-unit residential component of the development and then focus on the retail portions of the project.
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