Embarcadero Capital Partners Acquires 108,500 SF Value-Add Building in North San Jose

SAN JOSE, Calif., March 7, 2019 – Cushman & Wakefield announced today the firm advised PSAI Realty Partners in the disposition of 2125 O’Nel, a 108,446-square-foot office/R&D building in North San Jose, California. The buyer was Embarcadero Capital Partners, a San Francisco Peninsula-based private real estate investment, management, and development firm. The transaction closed in December 2018. Cushman & Wakefield’s Northern California Capital Markets group consisting of Eric Fox, Steve Hermann, Adam Lasoff, Seth Siegel, and Ryan Venezia represented the seller in the transaction. Erik Hallgrimson of the firm’s San Jose office along with Craig Fordyce of Colliers International provided local market advisory. “2125 O’Nel is a highly functional institutional grade property in the heart of Silicon Valley with exceptional Highway 101 visibility and offering the buyer significant near-term upside,” said Fox, Executive Managing Director. “At the time of sale, the building was 100% leased to a single tenant [...]

By |2019-03-08T11:09:11-04:00March 8th, 2019|In the News|0 Comments

South Bay Development Company Sells New Orchard Corporate Center in North San Jose

SAN JOSE, Calif., March 5, 2019 – Cushman & Wakefield announced today the firm has advised the sale of Orchard Corporate Center, a newly constructed 101,374-square-foot Class A office/R&D campus in North San Jose, California. South Bay Development Company, a Silicon Valley-based commercial real estate development company which constructed the two-building campus completed in 2017, sold the property to a private investor. Both buildings were 100% leased at the time of sale. Eric Fox, Adam Lasoff, Seth Siegel, Steve Hermann, and Ryan Venezia of Cushman & Wakefield’s Northern California Capital Markets Group advised South Bay in the disposition. Nick Lazzarini and Kalil Jenab of Cushman & Wakefield’s Silicon Valley offices also provided local market advisory—the duo also negotiated the leases with the current tenants. “Orchard Corporate Center is a strong-performing, high quality asset fully leased to two long-term tech tenants and is surrounded by some of the world’s biggest and [...]

By |2019-03-05T16:34:52-04:00March 5th, 2019|In the News|0 Comments

Silicon Valley’s Office/R&D Markets Still Dominant in 2018 – Growth Driven by the Tech Sector

SAN JOSE, Calif., January 22, 2019 – Cushman & Wakefield’s year-end office and R&D market reports for Silicon Valley revealed a strong annual performance for both sectors overall in 2018. As one of the world’s most dominant and innovative tech markets, these two real estate sectors combined to hit 2.5 million square feet (msf) of positive net absorption, or occupancy growth, across the valley in 2018. After a soft first half plagued by deep occupancy losses, the R&D sector quickly shifted course in the second half with red hot growth. Meanwhile, with gains in all four quarters, the office market had one of its strongest occupancy showings on record. Julie Leiker, Cushman & Wakefield’s Market Director for Silicon Valley, said, “The office sector achieved 1.8 msf of occupancy growth in 2018, nearly doubling its growth totals for both 2017 (960,000 sf) and 2016 (973,000 sf). Putting this robust figure into [...]

By |2019-01-22T15:30:27-04:00January 22nd, 2019|In the News|0 Comments

Silicon Valley’s Office/R&D Sectors Report Significant Growth in Q3 combining for over 1.9 MSF Net Absorption

Office Market may be Headed for Record Year, while R&D Market Rebounds SAN JOSE, Calif., October 15, 2018 – Cushman & Wakefield’s newly released office and R&D market reports for the third quarter of 2018 showed strengthening occupancy growth, with both sectors combining for more than 1.9 million square feet (msf) of positive net absorption. The R&D market contributed over 1.3 msf of growth with the office market adding another nearly 600,000 sf in Q3. Under the strain of two quarters of lackluster performance, the R&D sector broke through in the third quarter with a surge in deal velocity, a stabilization in net absorption and increased rents. And in the office sector, after three standout quarters it seems apparent that 2018 will not only outperform 2017 but may rival the record-setting growth of 2015. Julie Leiker, Cushman & Wakefield’s Market Director for Silicon Valley, said, “Year-to-date office net absorption has [...]

By |2018-10-15T16:33:52-04:00October 15th, 2018|In the News|0 Comments