Lennar Commercial has bought a chunk of real estate from Texas Instruments in Santa Clara, marking the first acquisition here for the growing commercial division of the Miami-based company more commonly known for its subdivisions. The subsidiary of publicly traded Lennar Corp. snapped up 3689 Kifer Road, a modern, 140,000-square-foot office building that is not currently occupied, the company said in a news release. Lennar also picked up a couple of other, smaller buildings (including the National 1st Credit Union Building at 29999 San Ysidro Way) and a surface parking lot as part of the deal. The purchase was made with partnership with Rialto Capital Management, an investor that is also a wholly owned subsidiary of Lennar. [Read this article]
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