Big South Bay office building is bought, deal shows huge price plunge

SUNNYVALE — An eye-catching South Bay office building that was once the headquarters of bankrupt biotech company 23andMe has been bought at a price that reflects a massive decline in the property’s value.

The office building, located at 221 North Mathilda Avenue in Sunnyvale, was bought for $87.8 million, according to documents filed on June 5 with the Santa Clara County Recorder’s Office.

The new owner was able to buy the building at a price that was far below what the sellers paid for the high-profile property, a review of county documents shows.

Spear Street Capital, acting through an affiliate, is the new owner of the building, according to the real estate records.

Stockbridge Capital Group had bought the building for $183 million in 2019, the last full year before the coronaviru