Monday, June 8, 2009

HFF Brokers Sale of Silicon Valley Complex in Milpitas, CA

SAN FRANCISCO, CA – The San Francisco office of HFF (Holliday Fenoglio Fowler, L.P.) and Cornish & Carey Commercial (C&C) are pleased to announce the sale of Murphy Ranch Technology Park (above centered photo), a five-building, office complex totaling 363,237 square feet in Milpitas, Silicon Valley, California.

The seller, Prudential Real Estate Investors, was represented by C&C in cooperation with HFF’s senior managing directors Michael Leggett (top left photo) and Gerry Rohm (middle right photo) (formerly with C&C).

Spear Street Capital purchased the property. The 20.5-acre Murphy Ranch Technology Park is situated along Murphy Ranch Road and McCarthy Boulevard, close to Interstates 880 and 680, Route 237 and the Tasman Light Rail Station in Milpitas.

Completed in 1994, the five properties are fully leased as corporate headquarters for the following three tenants: Avaya, Intersil and Phoenix Technologies. Murphy Ranch amenities include covered interconnected walkways, a full-service cafeteria, common area showers, sports courts and jogging and biking trails.
“Murphy Ranch provides an investor a best-of-class, institutional–quality, Class ‘A’ office campus with strong income at an attractive basis,” said Leggett.

Prudential Real Estate Investors (PREI®) is the real estate investment management business of Prudential Financial. PREI®’s specialized operating units offer a broad range of investment opportunities and investment management services in the United States, Europe, Asia and Latin America.

Spear Street Capital is a real estate investment company dedicated to pursuing select office investment opportunities nationwide with a specific focus on office assets and portfolios with technology-oriented tenants.

Michael Leggett, HFF Senior managing Director, (415) 276-6924,
Gerry Rohm, HFF Senior Managing Director, (415) 276-6935,
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,

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