The Roxborough Group, along with Paceline Investors, has acquired R&D asset, 2581 Junction, in Silicon Valley for $29.2 million.
Matt McCormick, managing director, Roxborough Group, told GlobeSt.com that the site offers a rare combination of favorable location, power and specialized infrastructure in one of the area's most established R&D markets.
"The North San Jose market continues to outperform, attracting hardware, semiconductor, and other advanced manufacturing users seeking scalable, high-power space such as 2581 Junction," McCormick said.
2581 Junction features specialized infrastructure, including approximately 8,500 amps of power capacity and existing cleanroom improvements, making it well-suited for a range of advanced manufacturing, hardware and research and development users.
High-power facilities in Silicon Valley remain limited due to long lead times for new electrical infrastructure, positioning the property favorably relative to similarly sized buildings within the market.
The 102,722-square-foot heavy-power R&D facility is located on a 5.4-acre site.
This is Roxborough's first R&D investment in Silicon Valley under Roxborough Fund III, L.P., a $518 million discretionary fund focused on opportunistic and value-add investments.
The property, constructed in 1983, was subsequently upgraded for advanced manufacturing use. The single-tenant building is currently leased to Ensurge Micropower, a developer of solid-state battery technology.
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