CBRE has arranged the $41.5 million sale of Valley Research Center, a two-building R&D facility on Orchard Parkway in San Jose, CA. WF Batton Management Company purchased the property and CBRE’s Joe Moriarty, Scott Prosser and Jack DePuy represented the seller, an affiliate of TA Realty.

R&D properties remain in high demand in tech hubs like North San Jose, which had the highest 2022 net absorption in Silicon Valley, according to CBRE. The firm’s Bob Steinbock and Christian Marent will lease the remainder of 2580 Orchard Parkway, which is 26% leased to FIT Electronics (Foxconn). The second building is 100% leased to Harmonic, Inc.

“The Silicon Valley R&D market has remained resilient. Valley Research Center’s state-of-the-art improvements in the Golden Triangle, amongst high-cap technology companies, provide a huge upside opportunity for those looking for access to world-class talent and innovation,” said Moriarty in a news release.