Monday, October 1, 2012

HFF secures joint venture equity for Silicon Valley multi-housing development




1201 South Main St.
IRVINE, CA – HFF announced today that it has secured joint venture equity for the development of 1201 S. Main Street,(top left photo), a 200-unit, Class A multi-housing community to be built in Milpitas, California.

                HFF worked exclusively on behalf of Shea Properties to arrange the joint venture equity through The Resmark Companies.

                Due for completion in June 2014, 1201 S. Main Street will have studio, one- and two-bedroom units averaging 913 square feet each.  Nine of the 200 units are designated as affordable units. 
Mark Erland
 Planned community amenities include a sky terrace area, business center, game room, fitness center, basketball court, outdoor pool and spa, and barbecue areas.  The 2.72-acre site is located at the intersection of S. Main Street and Abel Street within walking distance of a VTA light rail station and the future (2018) Milpitas BART extension in Milpitas. 1201 S.

 Main Street is also close to employers such as Cisco and SanDisk, in addition to being adjacent to the Great Mall, which features a wide variety of national retail options. 

                 The HFF team representing Shea Properties was led by directors Mark Erland (middle right photo) and Charles Halladay.

Charles Halladay
  "Resmark was able to understand Shea's vision for this project which will have market leading unit interiors, amenities, and a design concept that will provide a high degree of appeal.  The Milpitas and North San Jose market is benefiting from rapid high technology job growth, and 1201 S. Main is poised to capture this ongoing strong tenant demand," said Erland.

Shea Properties, headquartered in Aliso Viejo, California, is a diversified real estate company responsible for the acquisition, design, development, construction and management of business parks, shopping centers, apartment communities and mixed-use environments. www.sheaproperties.com.


Contact:

Kristen M. Murphy
Associate Director HFF
9 Greenway Plaza, Suite 700
Houston, TX 77046
tel 713.852.3500
cel 617.543.4873
 fax 713.527.8725 

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