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May 22, 2019
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NORTHERN CALIFORNIA NEWS
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Silicon Valley Office Campus Trades Hands

3/06/19

Orchard Corporate Center, a newly constructed, 101.4k sf Class A office/R&D campus in North San Jose, was purchased by a private investor. Constructed in 2018, the one- and two-story office/R&D buildings are situated on 5.3 acres at 2755 and 2777 Orchard Pkwy.

Buildings at Orchard Corporate Center feature great identity, well-appointed lobbies, abundant natural light, plus a 15k sf outdoor courtyard for an array of tenant uses. Furthermore, the buildings’ high clear heights and loading capabilities lend versatility to accommodate a wide range of corporate uses.

The campus has a strategic location in the heart of San Jose’s North First Street Corridor, long recognized as one of the most desirable trade areas in Silicon Valley. The location also provides close access to highways, walkability to VTA light rail and amenities, and immediate access to Mineta San Jose International Airport.

The property was sold by South Bay Development Company, who constructed the complex. Both buildings were 100% leased at the time of sale.

Eric Fox, Adam Lasoff, Seth Siegel, Steve Hermann, and Ryan Venezia of Cushman & Wakefield’s Northern California Capital Markets Group advised South Bay in the disposition. Nick Lazzarini and Kalil Jenab, also with C&W, negotiated the leases with the current tenants. The transaction value was not immediately given out.

“Orchard Corporate Center is a strong-performing, high quality asset fully leased to two long-term tech tenants and is surrounded by some of the world’s biggest and most influential technology companies,” said Fox. “The property represents the first new construction project on Orchard Parkway in 17 years, while major renovations have been completed on nearly every building situated on Orchard Parkway between North First Street and Trimble Road, substantially upgrading the overall quality and value of the neighborhood.”





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