By IvyLee Rosario
San Francisco—Hudson Pacific Properties is launching a capital plan to reposition its Campus Center asset at 115-155 N. McCarthy Blvd. in Milpitas, Calif.
The 471,580-square-foot Campus Center comprises three office and R&D buildings, as well as areas that allow for the development of an additional 1 million square feet of office, R&D, warehouse or manufacturing space. The repositioning will include entrance and lobby renovations, more than 100,000 square feet of office space, master-planned landscaping and enhanced outdoor recreation areas such as dedicated sporting areas, patios, collaborative seating and direct hiking trail access.
Construction will begin in January 2018 following the lease expiration of the building’s current tenant, Cisco Systems. NBBJ will be the architect of record for common area renovations, while Shlemmer Algaze Associates will work on interior design. Cushman & Wakefield is marketing the property for lease.
“Campus Center is another opportunity for us to create value by making substantial asset-level improvements that will be attractive to top-tier tenants,” said Victor Coleman, chairman & CEO of Hudson Pacific Properties, in prepared remarks. “Demand for high-quality office space remains strong in Silicon Valley and we’re tracking multiple users in the market with requirements in excess of 400,000 square feet. We view this lease expiration as an opportunity to engage with another large tenant like Cisco or find several large tenants for the property.”
Image courtesy of Yardi Matrix