DRAWBRIDGE REALTY ACQUIRES SAN JOSE PROPERTY 100% LEASED TO COBHAM ELECTRONIC SYSTEMS
San Francisco, CA - April 27th, 2015 - Drawbridge Realty announced today the acquisition of 5300-5350 Hellyer Avenue in San Jose California for $37.5 million. The 2 building campus is 100% NNN leased through May 2022 to Cobham Electronic Systems, a wholly owned subsidiary of Cobham plc. Cobham is an industry leading developer and manufacturer of RF, microwave, and millimeter wave products. The 60,000 square foot two- story office and 100,000 square feet single story of R&D/Manufacturing space serves as the western US headquarters for Cobham which has occupied the property since it was first constructed as a build-to-suit in 2000. This location provides Cobham great employee accessibility as well as an ease of distribution for their products manufactured on site.
"The acquisition of Hellyer fits well within our profile of acquiring mission critical properties leased long-term to large corporate users," said Bill Doyle, Assistant Vice President of Investments at Drawbridge Realty.
The South San Jose submarket is seeing increased leasing activity due to supply and pricing constrains in the northern valley submarkets. The seller was Hellyer Avenue Limited Partnership and was represented by Joe Moriarty of CBRE.