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Park Point The 30-acre site has three office/R&D buildings totaling approximately 472,000 square feet.

MILPITAS, CA—One of the few remaining headquarters facilities available in Silicon Valley has been acquired at a purchase price in the neighborhood of $70 million, GlobeSt.com learns. A joint venture between Embarcadero Capital Partners and PCCP LLC acquired the recently renamed Park Point campus from Los Angeles-based Hudson Pacific Properties with plans to transform the campus into creative space.

“We have a long history of creating transformative corporate headquarters along the 237 Corridor,” says Carol Donnelly, Embarcadero Capital principal. “We are thrilled to start working on Park Point with our partner PCCP and the teams from HOK and Newmark. We believe this campus is one of the best large blocks of space immediately available in Silicon Valley at an incredibly competitive price point.”

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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