Embarcadero Capital Partners and PCCP Acquire Landmark ±472,000 sf Silicon Valley Campus

July 24, 2019 – A joint venture between Embarcadero Capital Partners and PCCP, LLC has acquired the recently renamed Park Point campus from Los Angeles-based Hudson Pacific Properties. The...
Newmark-Knight-Frank-NorCal-Park

July 24, 2019 – A joint venture between Embarcadero Capital Partners and PCCP, LLC has acquired the recently renamed Park Point campus from Los Angeles-based Hudson Pacific Properties. The 30-acre site featuring three office/R&D buildings totaling approximately 472,000 square feet is located at 115 – 155 North McCarty Boulevard in Milpitas is one of the few remaining high quality headquarters facilities available in Silicon Valley.

HOK, a global design, architecture, engineering and planning firm, who was recently named among the world’s most innovative companies by Fast Company, has been engaged to lead the project’s revitalization as a contemporary, creative workplace.

Jeff Arrillaga, Shawn Kellenberger and Michael Saign of Newmark Knight Frank’s Silicon Valley office have been hired as the exclusive listing agents of Park Point. Park Point offers an optimized, highly efficient, flexible work environment that promotes productivity with best in class indoor/outdoor usable amenity space. This campus will be a key recruiting and retention asset for the next users.

Located at the intersection of Highway 237 and I-880, Park Point occupies a strategic location for employers looking to reduce commutes times for their employees traveling from all directions of Silicon Valley. Given the dispersion of talent in the Bay Area, Park Point offers one of the most attractive macro level locations at Silicon Valley’s end of the San Francisco Bay.

Over 50 food, lodging, hospitality and retail amenities are located across the street from Park Point. Park Point also features direct access to the Guadalupe hiking trail and will have shuttle service to the new Milpitas BART station, offering seamless public transit connectivity.

Embarcadero Capital Principal Carol Donnelly said, “We have a long history of creating transformative corporate headquarters along the 237 Corridor. We are thrilled to start working on Park Point with our partner PCCP and the teams from HOK and Newmark. We believe this campus is one of the best large blocks of space immediately available in Silicon Valley at an incredibly competitive price point.”

Categories
AcquisitionBay AreaCommercialDealsNationalOfficeSilicon ValleyWest

RELATED ARTICLES