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.