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Kennedy Wilson Claims Six-Building Silicon Valley Portfolio
Beverly Hills-based Kennedy Wilson acquired a six-building Silicon Valley R&D portfolio in South San Jose for $53.5 million. The nearly 260,0000-square-foot portfolio is 100%-leased to 15 diversified tenants.
CBRE Capital Markets’ Brad Zampa, Mike Walker and Megan Woodring arranged the $32.7 million, seven-year, fixed-rate acquisition financing through a domestic bank. CBRE’s Scott Prosser, Joseph Moriarty, Jack DePuy and Russell Ingrum represented the unnamed seller.
Zampa says, “The debt capital markets continue to heal, particularly for stabilized assets with little near-term rollover. We generated multiple bids from Life Co’s, Regional Banks, Community Banks and CMBS shops. Ultimately, we chose a regional bank who offered best pricing and leverage at pre-COVID-19 levels.”
South San Jose is emerging as an alternative for users seeking efficient and functional industrial and R&D space compared to Silicon Valley submarkets where there’s limited availability of undeveloped land due to growth and redevelopment activity.
Portfolio included:
- 6385-6387 San Ignacio (35,924 square feet)
- 6541 Via Del Oro (31,800 square feet)
- 140 Great Oaks (52,700 square feet)
- 150-160 Great Oaks (52,700 square feet)
- 180 Great Oaks (54,971 square feet)
- 6850 Santa Teresa (30,029 square feet)
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


