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2/25/21
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Hines Global Income Trust Inc has acquired a 129.2k sf, single-tenant office, research and development building in Santa Clara in a deal estimated to be worth $68 mil, or around $525/sf. The building is located at 5301 Patrick Henry Dr, south of the Southbay Fwy and east of Lawrence Expwy.
This one-story building is situated in the center of Silicon Valley, a region that attracts some of the most desirable tenants in the world from a diverse mix of industries including technology. The property’s location is less than a half-mile from the VTA Light Rail and within one mile of the ACE Train, providing rail access throughout Silicon Valley and a large portion of the Bay Area. In addition, the location is less than a 10-minute drive to Mineta San Jose International Airport with convenient access to Highway 101, Interstate 880 and California State Route 237.
According to Janice Walker, chief operating officer at Hines Global, this transaction represents Hines’ second Santa Clara acquisition, demonstrating the firm’s conviction in the resiliency of this market.
Silicon Valley’s ability to attract the country’s top intellectual talent is unmatched. Workers from around the globe are drawn to the region by its exceptional quality of life, concentration of cutting-edge technology companies, and the presence of some of the nation’s top universities. The San Francisco Bay Area is the leading hub of high-tech innovation and development, and the region represents the largest high-tech manufacturing center in the United States.
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