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New York Investor Claims Milpitas R&D Facility for $41M

New York City-based Empire Square Group acquired a 102,668-square-foot R&D facility in Milpitas from a JV between affiliates of Westport Capital Partners LLC and Cannae Partners for $41.1 million. The fully-leased modernized partial two-story property is located at 1565 Barber Lane.

The facility is situated on 5.53 acres in a desirable location within Oak Creek Business Park in the northeast corner of Silicon Valley’s famed Golden Triangle. The asset was originally developed in 1980, but underwent significant improvements in 1996, 2009 and again in 2019.

Cushman & Wakefield’s Eric Fox, Steve Hermann, Adam Lasoff, Seth Siegel, and Ryan Venezia brokered the deal.

Fox says, “This was a very rare investment opportunity in Silicon Valley. The asset was 100% leased for 15+ years to a stable, credit tenant that is scheduled to provide strong cash flow for a considerable amount of time going forward. The tenant plans to utilize the facility as its Silicon Valley headquarters.”

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition