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.”
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
