Morgan Hill tech and business park is purchased by means of actual property investor

MORGAN HILL — A large new — and empty — tech and business park in Morgan Hill has been purchased by means of a veteran actual property funding company in a deal that tops $100 million.

Butterfield 5 Tech Park has been bought for $119.3 million by means of an associate of Invesco Actual Property, in keeping with paperwork filed on June 17 with the Santa Clara County Recorder’s Place of business.

The complicated totals 410,100 sq. ft and is composed of 5 massive tech and business constructions, in keeping with paperwork on record with the Morgan Hill Making plans Division.

CBRE, a business actual property company, organized the acquisition of Butterfield 5 Tech Park.

Construction in Butterfield 5 tech and business park situated on Butterfield Side road between Sutter Side road and Virtual Pressure in Morgan Hill, idea. (HPA Structure)

Trammell Crow, a large business actual property company that bought the constructions to Invesco, was once represented within the transaction by means of Rebecca Perlmutter, an govt with CBRE Nationwide Companions.

“Call for for house that may cater to business, production and lifestyles sciences continues to develop in Northern California,” mentioned Rob Shannon, a CBRE govt vp.

The just-purchased mission was once finished just lately.

“Butterfield 5 has the versatility to customise its house to satisfy the evolving wishes of tenants,” Shannon mentioned.

CBRE agents Shannon, Chip Sutherland and Brian Matteoni will take care of ongoing leasing to try to draw tenants to the tech park.

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