Sunnyvale Data Center Sells for $90M

Brookfield Properties has bought a Sunnyvale data center for $90.3 million, according to reports based on documents filed May 13 with the Santa Clara County Recorder’s Office. The property is 255 Caspian Drive, a roughly 120,000-square-foot facility in Sunnyvale’s Moffett Park area that seller DivcoWest describes as fully net leased to Equinix. Equinix lists the address as its SV4 data center in Silicon Valley. The deal gives Brookfield another foothold in a property type that has drawn heavier investor attention as AI and cloud demand drive demand for computing capacity. ### Which building changed hands? 255 Caspian Drive is a 119,756-square-foot, single-story data center in Sunnyvale, according to DivcoWest’s property page. DivcoWest says the building was built in 1978, renovated in 2009 and is “100% net leased” to Equinix. Equinix identifies 255 Caspian Drive as its SV4 facility in Sunnyvale. A separate industry listing says the site has about 67,622 square feet of raised floor space and access to 8 megawatts of power, though that specification comes from a third-party marketplace rather than Equinix itself. (hoodline.com) (divcowest.com) ### Who bought it, and who stays in the building? Brookfield Properties was identified as the buyer in reports citing county filings from May 13. The seller was DivcoWest, a Bay Area real estate investment firm that has listed the property in its portfolio. Equinix remains the tenant. That matters because the sale appears to be a landlord change rather than an operating-company change: Equinix continues to market the site as an active Silicon Valley data center, while DivcoWest’s own materials describe the lease as fully in place. (equinix.com) ### Why is a single Sunnyvale sale getting attention? The $90.3 million price is drawing notice because data centers have become a favored real estate category as companies build out AI and cloud infrastructure. (hoodline.com) The Registry, a real estate publication, reported that Brookfield paid an 81% premium to the property’s 2017 basis. (divcowest.com) Brookfield has also been publicly bullish on AI-related infrastructure. Data Center Dynamics reported in 2025 that Brookfield had published a white paper forecasting large growth in AI data center construction and spending over the next decade. (news.theregistrysf.com) ### How does this connect to the power debate in California? California officials and utilities are already debating how fast-growing data center demand will affect the grid and customer bills. A January 2026 letter submitted to a California Assembly hearing said electricity prices in the state are already driven by several factors beyond data centers, while a March 2026 CalMatters report said the Little Hoover Commission warned AI data centers could raise bills if households end up paying for grid upgrades. (datacenterdynamics.com) Silicon Valley Power, the municipal utility in neighboring Santa Clara, said on April 21 that it had launched a pilot with Emerald AI to test “flexible data centers” that can adjust consumption in response to grid conditions. The utility said the goal was to support reliability, affordability and more efficient planning as digital infrastructure expands in Silicon Valley. (autl.assembly.ca.gov) ### What happens next at 255 Caspian Drive? May 13 is the key next-step date now on the public record because that is when the sale documents were reported filed with the Santa Clara County Recorder’s Office. Brookfield becomes the new owner, while Equinix continues operating SV4 at 255 Caspian Drive and marketing capacity in Sunnyvale. (hoodline.com) (siliconvalleypower.com)