5301 Patrick Henry Drive Will Offer Class-A Creative Space in Excellent Location
Santa Clara, CA., December 19, 2014 – Today a joint venture between Kinship Capital, Pearlmark Real Estate Partners, and Insight Realty Company purchased 5301 Patrick Henry Drive in Santa Clara. The property is approximately 7 acres with a vacant 127,000 square foot office and R&D facility.
Nick Thomson and Ethan Meers of Kinship Capital, Ed Ryder of Pearlmark, and Dennis Randall, Matt Love and John Pringle of Insight were the lead executives working on the deal. The partnership plans to expand and redesign the building while increasing the parking capacity. Once complete, the project will offer Class-A creative office space with 25’ clear heights and a variety of amenities and features that will appeal to technology tenants in the marketplace.
Dennis Randall, Managing Director of Insight, stated, “We have worked for months to design a unique and special project that will be a standout leasing opportunity in a fantastic submarket. Insight is pleased to partner with Kinship and Pearlmark to acquire and redevelop the property.”
“We are confident that the finished product will be the best property in the submarket. Kinship is making significant efforts to acquire and develop commercial property throughout the Bay Area with a long investment horizon and ample equity capital available to invest in 2015 and beyond,” said Nick Thomson, Principal of Kinship Capital.
“We have worked with both Kinship and the Insight principals on other successful investments and we look forward to continuing those relationships with this unique and exciting project.” said Ed Ryder, Managing Director of Pearlmark.
The partnership acquired the property on December 19, 2014 and was specifically attracted to its outstanding location and redevelopment potential. The team expects to begin construction immediately and expects to deliver the finished project in 2016.
Jeff Arrillaga of Newmark Cornish & Carey will be leasing the project for the partnership.