Tasman Tech Attracts Both Tenants and Buyer

Tasman Tech, a 14-building office/R&D campus located at Tasman Drive at I-880 in Milpitas, recently sold to Washington Holdings LLC for an undisclosed purchase price. The campus has undergone substantial renovation and capital investment by existing ownership, allowing the property to further attract tenancy.

Newmark’s Steven Golubchik, Edmund Najera, Jonathan Schaefler and Darren Hollak brokered the transaction. The seller was Lionstone Investments.

“Tasman Tech provides substantial in-place cashflow with extensive renovations completed by current ownership,” said Najera. “The high-quality improvements have attracted tenants throughout the pandemic and leasing momentum has continued to remain strong.” 

Capital expenditures include the addition of on-site retail amenities, outdoor collaboration areas, a fitness center, building signage and ChargePoint vehicle chargers. The campus is within a five-minute VTA light rail ride to Milpitas BART station. BART has a future expansion to downtown San Jose in its plans.

Tasman Tech is surrounded by an R&D and life sciences tenant base including Johnson & Johnson, BigFoot BioMedical, Cisco, Analog Devices and Micron.