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7/29/19
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Embarcadero Capital Partners and PCCP LLC have acquired Park Point, a 30-acre, 472k sf office/R&D project in Milpitas. The Three-building campus, located at 115 - 155 North McCarty Blvd, was sold by LA-based Hudson Properties in a $70 mil transaction.
The new owners plan a complete makeover of the campus, one of the few remaining high-quality headquarters facilities available in Silicon Valley. The property’s conversion into a contemporary, creative workplace project will be overseen by HOK, a global design, architecture, engineering and planning firm, who was recently named among the world’s most innovative companies by Fast Company.
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 commute times for their employees traveling from all directions to 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.
Vice Chairman Jeff Arrillaga, Executive Managing Directors Shawn Kellenberger and Michael Saign of Newmark Knight Frank’s Silicon Valley office are the exclusive listing agents of Park Point for the new ownership.
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