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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.”

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., 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, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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