By Kate Snyder
Another tech campus in Silicon Valley has hit the market. Analog Devices’ 319,835 square foot campus in Milpitas is listed for sale, according to marketing information from Cushman & Wakefield, which is the property’s exclusive advisor. Since the firm acquired it in 2005, Analog Devices has utilized the five-building site as its office and research and development headquarters for Silicon Valley. A representative from Cushman & Wakefield declined to comment on the listing and did not share guidance pricing for the site.
The campus sits on 17.3 acres with addresses at 790 and 720 Sycamore Drive, 1511 Buckeye Drive and 1630 and 1610 McCarthy Blvd. The five buildings are a mix of single and two stories with layouts offering a mix of offices, labs, production areas and warehouse spaces, marketing information shows.
The one-story building at 790 Sycamore was built in 1982 and has a rentable square footage of 58,162. To the northeast is the building at 720 Sycamore, which offers 82,378 square feet in rentable area across two stories. That building was constructed in 1998. Further northeast is a two-story structure at 1511 Buckeye that was built in 1985 and has 94,563 square feet in rentable space. The two smallest buildings are on McCarthy Boulevard, with 1630 McCarthy standing at one story and offering 42,600 square feet of rentable space and the two-story 1610 McCarthy showing a rentable square footage of 42,132. Those buildings were constructed in 1983 and 1982, respectively.
The site is surrounded by companies such as Cisco, Johnson & Johnson, Western Digital and KLA. The property also has access to Highways 880 and 237 and Montague Expressway as well as mass transit options by way of VTA light rail and Milpitas BART.
According to marketing information, the five-building campus is slated to be delivered vacant. The property could be renovated and leased to tenants or purchased by an owner or user for their own occupancy. The site could also be redeveloped as an industrial property. Additionally, each building is situated on its own parcel, which would allow an investor to sell the buildings off individually.
Analog Devices, Inc., is a multinational semiconductor company based in Wilmington, Mass., and has regional offices in Germany, Japan, Ireland and China, according to the company’s website. It has a revenue of more than $12 billion and approximately 25,000 staff members around the world. The firm was founded in 1965 and has a focus on signal processing and other technology.
“ADI combines analog, digital, and software technologies into solutions that help drive advancements in digitized factories, mobility, and digital healthcare, combat climate change, and reliably connect humans and the world,” the firm’s website states.