Irvine Co. Buys Two More Buildings in Silicone Valley

The Irvine Co. has added two more buildings to its holdings in the Silicon Valley. The company said Wednesday it has purchased two fully leased research and development buildings in Sunnyvale from the Principal Financial Group, bringing its Silicon Valley industrial portfolio to almost 1 million square feet.

Company officials declined to disclose the price. One 65,000-square-foot building on a 4.3-acre site is leased to biomedical company Diagnostic Reagents Inc. and computer hardware maker Computerware. The second building, a 54,400-square-foot facility on a 3.7-acre site, is leased to catheter manufacturer Medtronic Inc.

Irvine Co. launched its expansion into the Silicon Valley last year when it purchased a 27-building portfolio in Sunnyvale’s high-tech Peery Park from Aetna Life Insurance Co.