Thor Equities has added a San Jose property to its rising portfolio of life science and know-how belongings, Business Observer has discovered.
Thor has bought a newly-renovated workplace constructing, which is totally leased to semiconductor developer NXP Semiconductors, at 350 Holger Means, based on info from Thor.
The New York-based Thor paid $50.5 million for the three-story constructing, based on a supply conversant in the deal, which it bought from KBS Actual Property Funding Belief.
The 96,502-square-foot constructing serves as a analysis and improvement facility, in addition to workplaces, for NXP. It’s a part of a broader analysis park that’s residence to a wide range of microchip and mobile know-how corporations, and near the headquarters of corporations like Cisco, Nvidia and Intel. Within the final 12 months, Google bought at the very least 4 buildings on the close by Cisco company campus, together with 175, 225, 255 and 285 West Tasman Drive, according to The Mercury Information.
“The R&D and life sciences industries are driving among the most profound adjustments to our lives and fixing the world’s largest issues,” stated Thor chairman Joseph Sitt. “This acquisition of a totally leased R&D constructing offers us a foothold into one of the vital sought-after innovation-centric markets within the nation.”
The acquisition is a part of a string of offers that Thor has accomplished in current months, because it expands its give attention to life science and analysis belongings in prime markets. In October Thor purchased a life science facility occupied by biopharmaceutical firm Celgene in Warren, New Jersey, and earlier this month, it closed on a life-science campus within the Analysis Triangle space of North Carolina.
Thor additionally bought a logistics portfolio south of Madrid, Spain final quarter. The deal features a 101,700-square-foot facility that’s 95 occupied by SEAT, a division of Volkswagen Group, and features a Porsche distribution middle, and a improvement possibility for near 25,000 further sq. toes, Thor confirmed.
Each the client and vendor had been represented by CBRE’s Northern California Capital Markets Institutional Properties group, which incorporates Russell Ingrum, Jack DePuy, Joseph Moriarty, and Scott Prosse. Megan Woodring and Brad Zampa of CBRE Capital Markets organized the acquisition mortgage.