X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SAN JOSE, CA-Legacy Partners is set to add more space to this ultra-tight market, having purchased 88.6 acres on Yerba Buena Road from Orchard Properties. On it will rise a 1.8-million sf business park called Highlands Corporate Center that will be marketed to high tech tenants seeking up to 250,000 sf in flex space. Phase One will break ground in the summer, and is should be ready for occupancy by June 2002.

Legacy’s financial partners in the purchase were Goldman Sachs, CS First Boston and Walton Street Capital. Commercial Property Services represented Legacy in the sale, while CB Richard Ellis represented Orchard. Financial terms were not disclosed.

“We found that many high-tech companies based (here) were looking to expand but unable to remain in the area because of the shortage of high-quality R&D and office space,” said Legacy senior vice president Allen Palmer in announcing the news. “Highlands Corporate Center will offer a tremendous opportunity for corporate tenants looking for significant amounts of space in the Silicon Valley.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE 2020Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.