Huge tech campus in Milpitas lands veteran consumer in $60 million deal
MILPITAS — A tech campus in Milpitas that sits atop a huge chunk of land has been acquired by a major serious estate participant that often purchases properties that can be primary redevelopment web pages.
A 3-building tech park has been bought for $60.5 million by an affiliate managed by Duke Realty, in accordance to documents on file with the Santa Clara County Recorder’s Office.
Indianapolis-centered Duke Realty specializes in the ownership and development of e-commerce, industrial, logistics, and investigate structures and campuses.
The campus that Duke Realty acquired is acknowledged as Oak Creek Business Park in Milpitas, according to a brochure for the web page that was circulated by Cushman & Wakefield, a industrial actual estate agency that has been marketing and advertising the assets.
The company park totals 215,200 square ft, according to the brochure, which was organized by Cushman & Wakefield brokers Gregory Davies, Erik Hallgrimson, Kelly Yoder and Steve Horton.
The structures have addresses of 475, 501 and 525 Sycamore Highway and are positioned near the interchange of Interstate 880 and Tasman Travel in Milpitas.
The vendor was a Walnut Creek-based mostly authentic estate team, the county documents present.
The north San Jose and Milpitas parts have captivated substantial desire from genuine estate traders and developers.
Duke Realty experienced previously purchased a website at 2256 Junction Ave. in north San Jose the place the true estate business has proposed a redevelopment totaling 305,800 sq. feet on a 13.7-acre web site. That undertaking would exchange an present developing that totals 141,300 square feet.
Likewise, the properties that Duke Realty has just ordered in Milpitas occupy 14 acres and could be renovated or replaced.