Cushman & Wakefield Brokers $33M Sale of Milpitas R&D Property
Todd Beatty, Steve Horton, Kelly Yoder and Carrick Young from Cushman & Wakefield represented Analog Devices, Inc. in the $33 million sale of a 127,500-square-foot R&D property in Milpitas, CA. The facility was purchased by Cannae Partners, which plans on renovating the asset in the coming quarters.
“Centrally positioned in Milpitas, this high-quality asset enables US domestic chip production in the heart of Silicon Valley. This was a rare opportunity to acquire a unique property in a top tier market that attracts a strong work force and industry-leading companies,” said Beatty in a news release.
The facility, located at 275 S. Hillview, consists of highly specialized infrastructure, including a cleanroom and service area with a fully operational sub-fab and four 2,500 kVA substations with capacity for 10 megawatts of power. “Given the power, the clear height and the ample HVAC capacity, we believe the next great technological advancement may be created right here,” said Jamin Seid, principal of Cannae.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.