MILPITAS — A huge tech campus in Milpitas has landed a veteran buyer from Seattle in a deal that suggests investors still hunger for choice properties in Silicon Valley.
Washington Holdings, acting through affiliate WH Silicon Valley VI, has paid $170 million for Tasman Tech, a 14-building office and research complex in Milpitas, documents filed Oct. 21 with the Santa Clara County Recorder’s Office show.
The purchase was an all-cash deal, according to the county records.
The campus, which totals 690,000 square feet, is located near the corner of Tasman Drive and Alder Drive.
The buildings that were bought by Washington Holdings are located on Tasman Drive, McCarthy Boulevard and Alder Drive. The campus is located near the light rail line and is within two miles of the Milpitas BART station.
An alliance of Orchard Partners and Lionstone USL sold the property, according to a campus brochure and state business records.
CBRE, a commercial real estate firm, has been scouting for tenants for the campus.
Lionstone and Orchard conducted a wide-ranging renovation of the property according to a brochure for the campus that CBRE prepared.
“New contemporary exteriors set the stage for redesigned interior spaces,” CBRE stated in the brochure. “Reimagined outdoor spaces offer a quiet place to collaborate or unwind. Together, a work environment that supports productivity and a healthy workforce.”
Source: www.mercurynews.com