A tech startup owned by tractor maker Deere & Co. has paid $85 million for an office building in Santa Clara.
Blue River Technology, based in Sunnyvale, bought the 83,600-square-foot building at 3303 Scott Boulevard, the Silicon Valley Business Journal reported. The seller was an affiliate of Toeniskoetter, based in San Jose, which developed the property.
The agritech firm, which had subleased the offices, paid $1,017 per square foot.
The office building, constructed in 2016, has four stories including a ground-floor parking garage near Santa Clara Square and the Campus @ 3333.
It had previously been home to Seres, an electric car maker owned by China’s Sokon Group. Seres laid off staff in 2019 and subleased it to Blue River in May.
Deere & Co. bought Blue River Technology in 2017 for $305 million to add machine learning to its ubiquitous green John Deere farm equipment.
Blue River develops computer vision technology to precisely apply herbicides in fields using a robot that employs cameras and machine learning to distinguish between crops and weeds, cutting herbicide use by two-thirds.
It’s not clear if Blue River intends to move its headquarters from a 64,700-square-foot office in Sunnyvale to its latest acquisition in Santa Clara 3.5 miles away.
— Dana Bartholomew
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