Soma Capital Acquires Milpitas Campus for $130M

San Francisco-based Soma Capital Partners has acquired Murphy Crossing, a five-building office/R&D campus in Milpitas, CA for $130 million. Located at 1001, 1011 & 1033 McCarthy Blvd. and 915 & 933 Murphy Ranch Rd., the campus was originally built in 1994 as a corporate headquarters.

At the time of sale, the property was 100% leased to a roster of tenants. Design features include steel-frame construction, floor-to-ceiling glass lines, 14’ slab heights and extensive tenant amenities across a 21-acre campus setting.

Soma acquired the property through a joint venture with Toronto’s Timbercreek Asset Management. The JV targets core-plus and value-add investments in high-growth markets. Murphy Crossing marks the fifth acquisition totaling more than one million square feet in the office and retail sectors for the strategy.

NKF’s Steven Golubchik and Edmund Najera represented the Sellers, and NKF’s Ramsey Daya and Chris Moritz arranging financing.

For comments, questions or concerns, please contact Chris Egger