{"id":1004429119,"date":"2020-04-30T06:06:39","date_gmt":"2020-04-30T14:06:39","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004429119"},"modified":"2020-04-30T06:06:39","modified_gmt":"2020-04-30T14:06:39","slug":"empire-square-pays-41m-for-silicon-valley-facility","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/empire-square-pays-41m-for-silicon-valley-facility\/","title":{"rendered":"Empire Square Pays $41M for Silicon Valley Facility"},"content":{"rendered":"
\"\"<\/a>

1565 Barber Lane. Image courtesy of Cushman & Wakefield<\/em><\/p><\/div>\n

Empire Square Group has acquired 1565 Barber Lane, a fully leased, 102,668-square-foot R&D facility in Milpitas, Calif. A joint venture between affiliates of Westport Capital Partners and Cannae Partners sold the Silicon Valley asset for $41.1 million. Cushman & Wakefield represented both parties in the deal. According to Yardi Matrix data, the partnership acquired the Class B property in 2016, in a $78 million portfolio transaction.<\/p>\n

Developed in 1980 within the 466,000-square-foot Oak Creek Business Park, the two-story building underwent substantial renovations in 1996, 2009 and 2019. Yardi Matrix data shows the facility features 80,000-square-foot floor plates and a parking ratio of 3.4 spaces per 1,000 square feet.<\/p>\n

Located in the northeast corner of Silicon Valley\u2019s Golden Triangle, the 5.5-acre property is some 6 miles north of downtown San Jose, adjacent to Interstate 880. The facility is also accessible via public transportation, having several bus and light rail stations within walking distance.<\/p>\n

Cushman & Wakefield\u2019s Eric Fox, Steve Hermann, Adam Lasoff, Seth Siegel and Ryan Venezia, with the firm\u2019s Northern California Capital Markets group, arranged the transaction. The brokerage team recently assisted Swift Real Estate Partners<\/a> in the disposition of an 87,000-square-foot office asset in Sacramento, Calif.<\/p>\n","protected":false},"excerpt":{"rendered":"

The 102,668-square-foot building in the Golden Triangle last changed ownership in 2016.<\/p>\n","protected":false},"author":870,"featured_media":1004429131,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21742,21747,36079,15],"tags":[32799,49315,33541,36227],"class_list":["post-1004429119","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-office","category-san-jose","category-west","tag-cushman-wakefield","tag-empire-square-group","tag-silicon-valley-submarket","tag-westport-capital-partners-llc"],"acf":[],"yoast_head":"\nEmpire Square Pays $41M for Silicon Valley Facility - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/empire-square-pays-41m-for-silicon-valley-facility\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Empire Square Pays $41M for Silicon Valley Facility\" \/>\n<meta property=\"og:description\" content=\"The 102,668-square-foot building in the Golden Triangle last changed ownership in 2016.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/empire-square-pays-41m-for-silicon-valley-facility\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-04-30T14:06:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/04\/1565-Barber-Lane-e1588247773298.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1068\" \/>\n\t<meta property=\"og:image:height\" content=\"801\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adriana Marinescu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/empire-square-pays-41m-for-silicon-valley-facility\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/empire-square-pays-41m-for-silicon-valley-facility\/\",\"name\":\"Empire Square Pays $41M for Silicon Valley Facility - 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