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6/20/22
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In a notable NoCal industrial acquisition, Invesco purchased Butterfield 5 Technology Park, a five-building, 410k sf Class A industrial park in Morgan Hill. The property, just completed in 2022, was sold by Trammell Crow Company (TCC), and JV partner CBRE Investment Management, on behalf of one of its funds.
Butterfield 5 Technology Park is located on a 24-acre site west of Hwy 101 and near Morgan Hill’s central business district at Butterfield Blvd and Sutter Blvd. HPA Inc was the project’s architect, while Lusardi Construction acted as the general contractor.
Rebecca Perlmutter with CBRE National Partners represented the sellers in the disposition. The CBRE leasing team of Rob Shannon, Chip Sutherland and Brian Matteoni will continue to handle marketing and leasing for the industrial park.
“The property’s access to Silicon Valley and high concentration of talent in technology, life sciences and manufacturing is highly desired amid limited supply of flex space. Demand for space that can cater to industrial, manufacturing and life sciences continues to grow in Northern California, and Butterfield 5 has the flexibility to customize it to meet the evolving needs of tenants,” commented Shannon.
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