Galvanize Real Estate Makes California Debut with Milpitas Industrial Portfolio

Galvanize Real Estate (GRE), the real estate platform of Tom Steyer’s climate firm Galvanize, has made its first California acquisition with a deal for the Cadillac Court Industrial Portfolio, a four-building campus in Milpitas. The San Francisco Chronicle reported the purchase price as $94 million.

Newmark executive vice chairman and president, Western Region Capital Markets Steve Golubchik, vice chairman Edmund Najera, senior managing director Darren Hollak and director Brendan Raney represented the seller, reported as DRA Advisors. Newmark executive managing director Kevin Hatcher advised on the sale of the property as a local market expert.

“The Silicon Valley industrial market is seeing stronger leasing activity, declining vacancy and more demand from advanced manufacturing and AI-driven companies,” said Golubchik. “Cadillac Court offered the opportunity to invest in that momentum in one of the Bay Area’s most tightly held industrial submarkets.”

Built between 1991 and 1994, the 300,000-square-foot campus is approximately 95% leased. GRE plans a series of energy-efficiency upgrades.

Inside The Story

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

Order Reprints