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

MILPITAS, CA—One of the few remaining headquarters facilitiesavailable in Silicon Valley has been acquired at a purchase pricein the neighborhood of $70 million, GlobeSt.com learns. A jointventure between Embarcadero Capital Partners and PCCP LLC acquiredthe recently renamed Park Point campus from Los Angeles-basedHudson Pacific Properties with plans to transform the campus intocreative space.

“We have a long history of creating transformative corporateheadquarters along the 237 Corridor,” says Carol Donnelly,Embarcadero Capital principal. “We are thrilled to start working onPark Point with our partner PCCP and the teams from HOK andNewmark. We believe this campus is one of the best large blocks ofspace immediately available in Silicon Valley at an incrediblycompetitive 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.