FUNCTIONAL R&D BUILDING 100% NNN LEASED TO PICARRO

3105 Patrick Henry offers the rare opportunity to acquire a freestanding 55,944 square foot building along the Highway 101 corridor. The Building boasts a functional, single-story R&D layout with a loading dock, ample parking, and significant power with electricity supplied by Silicon Valley Power (City of Santa Clara), offering rates 30% below surrounding cities. The Property is 100% NNN leased to Picarro who has been at the Property since 2015.

STRONG CURRENT UPSIDE AND RARE FUTURE DEVELOPMENT OPPORTUNITY

A new owner can capture the in-place income and will also benefit from the rare opportunity to acquire a premier development site with residential zoning already in place. This zoning will allow an investor to significantly increase value with the potential to redevelop to high density residential. The Property falls within the Patrick Henry Drive Specific Plan, which the City approved in March of 2022, establishing the specifics of the residential development of the plan area.

STRONG DEMAND FOR SINGLE STORY R&D PRODUCT

Although the availability of R&D has increased in recent quarters, much of that can be attributed to the multi-story product in the market. The availability of high quality, single-story R&D product like 3105 Patrick Henry remains limited. The single-story product offers flexibility for tenants when it comes to laying out their space with production, warehouse and office space. Critical attributes for these tenants are loading, clear height, and adequate power. All of these features are offered at 3105 Patrick Henry allowing full utilization of the space for the tenant Piccaro. They have been in the space since 2015 and are a five day a week in the office/manufacturing space company. As part of their most recent renewal, Picarro received a $10 psf TI allowance, now fully spent, and has since contributed additional capital toward building improvements.

COVETED HIGHWAY 101 CORRIDOR LOCATION IN THE HEART OF SILICON VALLEY

The Highway 101 Corridor is the main artery of Silicon Valley and to be situated alongside this major thoroughfare is highly desirable. Silicon Valley is home to the nation’s largest cluster of technology firms and benefits from an entrepreneurial culture fueled by its wealth of talented employees. As technology increasingly penetrates every corner of the national economy, especially in an increasingly digital world, Santa Clara’s technology firms, and the businesses that support them, will continue to thrive as dynamic demand drivers.