San Jose, California – April 29, 2015 – CBRE Capital Markets has arranged the sale of the office/R&D portfolio, which includes two office and R&D buildings totaling 160,000 square feet located at 5300 and 5350 Hellyer Avenue in the South San Jose submarket. San Francisco-based Drawbridge Realty purchased the campus, which was 100 percent leased long-term at the time of sale.
CBRE marketed the sale of the complex on behalf of Hellyer Avenue Limited Partnership. The seller is a partnership lead by an affiliates of Berg & Berg and Republic Properties Corporation. The CBRE marketing team was comprised of Joseph Moriarty, Executive Vice President; Russell Ingrum, Vice Chairman; Sean Sullivan, Executive Vice President; Brad Zampa, Executive Vice President; Tyler Meyerdirk, First Vice President and Bob Steinbock, Senior Vice President.
“We saw strong interest from the investment community for the opportunity to acquire a critical mass of office and R&D product located in one of the country’s top performing markets,” says Mr. Moriarty at CBRE. “For Drawbridge Realty, this campus complements their existing portfolio and is part of a long-term investment in Silicon Valley.”
The buildings are located at 5300 and 5350 Hellyer Avenue and are fully occupied by Cobham Electronic Solutions, a wholly owned subsidiary of Cobham, plc. Built in 2000, the property is of newer construction and has significant infrastructure including 21 KV of power.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.