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December 6, 2023
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BD Leases 240k sf at Silicon Valley Office/R&D Campus


BD (Becton, Dickinson and Company), one of the largest medical technology companies in the world, has signed a long-term lease for 240k sf at Park Point, a creative office/R&D campus located at 115, 135 and 155 North McCarthy Blvd in the Silicon Valley city of Milpitas. BD Biosciences will occupy the entirety of the 155 North McCarthy building and almost half of the 135 North McCarthy building.

Located in the heart of Silicon Valley, Park Point is a three-building corporate campus comprising one, two-story and two, three-story steel-framed office/R&D buildings totaling approximately 472k sf. HOK, a global design, architecture, engineering and planning firm, was the lead on the project’s recent revitalization as a contemporary, amenity-rich workplace.

Park Point is owned by a venture of Embarcadero Capital Partners and PCCP LLC. The project offers large, efficient floor plates that are ideal for enabling innovation-based companies. The campus also features a wide array of outdoor collaborative and amenity spaces in addition to a convenient location near the intersection of Hwy 237 and Interstate 880 in Silicon Valley.

Conveniently situated adjacent to VTA light rail and the new Milpitas BART Station, Park Point’s location is optimal for companies looking to recruit and retain top Bay Area talent from the East Bay, Peninsula, and South Bay labor markets. The project is within easy walking distance of more than 50 restaurants, retail, service and hotel amenities.

“HOK designed the extraordinary re-invention of Park Point featuring both indoor and outdoor amenities including a fitness center, outdoor kitchen and BBQ, pickleball court, volleyball court, basketball court, redwood grove with social fire pit terraces, picnic areas, custom ping-pong tables and outdoor collaboration areas with meeting tables and both lounge and café seating” noted Carol Donnelly, Director of Leasing at Embarcadero Capital Partners.

Jeff Arrillaga, Michael Saign and Shawn Kellenberger with Newmark the property ownership in the transaction. JLL’s Jodie Matthews, Steve Clark, Grant Dettmer and Joe Long repped the tenant. Terms of the deal were not disclosed. We’re told that at present there is just over 100k sf still available at the campus.

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