Drawbridge Realty announced today the acquisition of 5300-5350 Hellyer Avenue in San Jose California for $37.5 million. The 2 building campus is 100% NNN leased through May 2022 to Cobham Electronic Systems, a wholly owned subsidiary of Cobham plc. Cobham is an industry leading developer and manufacturer of RF, microwave, and millimeter wave products. The 60,000 square foot two-story office and 100,000 square feet single story of R&D/Manufacturing space serves as the western US headquarters for Cobham which has occupied the property since it was first constructed as a build-to-suit in 2000. This location provides Cobham great employee accessibility as well as an ease of distribution for their products manufactured on site.
“The acquisition of Hellyer fits well within our profile of acquiring mission critical properties leased long-term to large corporate users,” said Bill Doyle, Assistant Vice President of Investments at Drawbridge Realty. The South San Jose submarket is seeing increased leasing activity due to supply and pricing constrains in the northern valley submarkets.
The seller was Hellyer Avenue Limited Partnership and was represented by Joe Moriarty of CBRE.
About Drawbridge Realty, LLC
Drawbridge Realty, LLC is a San Francisco-based real estate investment and development company that targets commercial property investments predominantly in select markets across the western United States with a current portfolio comprising over two and a half million square feet. The firm pursues properties suited to large corporate tenants, with an emphasis on fully occupied buildings, as well as properties that are ready for new development, redevelopment, or conversions to higher and better uses. The current portfolio is comprised of properties located in the Silicon Valley; San Diego; Austin, Texas; and Salt Lake City, Utah. Drawbridge has completed transactions with major corporations including Broadcom, Google, Johnson & Johnson, L-3 Communications, Lockheed Martin, Medtronic, Monsanto, National Instruments, Northrop Grumman, and Unisys. Learn more at www.DrawbridgeRealty.com.