Empire Square Group Sells 160,000 SF Manufacturing, Office Campus in San Jose for $64.3M

by Amy Works

SAN JOSE, CALIF. — Empire Square Group has completed the disposition of a two-building advanced manufacturing and office campus located at 5300-5350 Hellyer Ave. in South San Jose. J&J Properties acquired the asset for $64.3 million.

Joe Moriarty, Scott Prosser and Jack DePuy of CBRE Capital Markets brokered the sale. Brad Zampa and Michael Walker of CBRE Capital Markets’ Debt & Structured Finance group arranged $44 million in acquisition financing for J&J Properties. The 10-year, fixed-rate, non-recourse loan was arranged through a multinational investment bank.

CAES, formerly Cobham, has occupied the 160,000-square-foot asset since it was originally built in 1999, and the company has invested significant capital into facility improvements over the years. The property features specialized infrastructure including 21 kV of power and more than 1,000 tons of HVAC.

CAES is a provider of analog and radiation-hardened technology for the U.S. aerospace and defense industry. The company makes off-the-shelf and customized radio frequency, microwave and high-reliability microelectronic products and subsystems.

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