MurphyCrossing is an office/R&D campus located at 1001-1033 McCarthyBlvd. and 915-933 Murphy Ranch Rd.
MILPITAS, CA—Nearly 100% of scalable projects in Sunnyvale andMountain View have been sold to users or encumbered by long-termleases, says Chris Moritz, senior managing director with NewmarkKnight Frank. In response, he says potential tenants are now forcedto look for options with space to grow in neighboring markets,placing Murphy Crossing in one of the most in-demand locations.
This type of tenant activity in Milpitas is also affectinginvestor demand. Namely, a loan of $84.5 million was recentlysecured for the acquisition of the five-building office/researchand development campus located at 1001-1033 McCarthy Blvd. and915-933 Murphy Ranch Rd. The $130 million acquisition involved ajoint venture between Soma Capital Partners and Timbercreek AssetManagement.
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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.
