Hines Global Income Trust, Inc. has acquired a single-tenant office, research and development building at 5301 Patrick Henry Drive in Santa Clara, California.
This one-story, 129,200-square-foot building is located in the center of Silicon Valley.
“This transaction represents our second Santa Clara acquisition showing our conviction in the resiliency of this market,” said Janice Walker, chief operating officer of Hines Global. “Our globally diversified portfolio’s tenant mix is further strengthened through the addition of this well-positioned project.”
The property’s location is less than a half-mile from the VTA Light Rail and within one mile of the ACE Train, providing rail access throughout Silicon Valley and a large portion of the Bay Area. In addition, the location is less than a 10-minute drive to Mineta San Jose International Airport with convenient access to Highway 101, Interstate 880 and California State Route 237.
“We’re pleased to expand Hines’ presence in Silicon Valley, while continuing to provide our investors with exposure to new assets in a high-quality market,” commented Shawn Hardy, managing director, at Hines.”
Silicon Valley’s ability to attract the country’s top intellectual talent is unmatched. Workers from around the globe are drawn to the region by its exceptional quality of life, concentration of cutting-edge technology companies, and the presence of some of the nation’s top universities. The San Francisco Bay Area is the leading hub of high-tech innovation and development, and the region represents the largest high-tech manufacturing center in the United States.