25 August 2021
Grosvenor Americas acquires Orchard-Trimble office and R&D campus in North San Jose
218,645-square-foot property at Orchard Parkway and West Trimble Road 100% leased to Toshiba America Electronic Components.
Grosvenor Americas (‘Grosvenor’), a privately owned international investor and developer, announces today the acquisition of the Orchard-Trimble office and R&D campus in North San Jose. The property is fully leased to Toshiba America Electronic Components, Inc., the US storage and semiconductor division of Toshiba Corporation.
Located in the Golden Triangle in North San Jose, Orchard-Trimble borders Highway 101 and 880, two major commuting arteries in the San Francisco Bay Area. The campus is proximate to San Jose International Airport and provides access to downtown San Jose via the VTA Light-Rail.
“We have strong confidence in the long-term growth trajectory of the North San Jose submarket,” said Angela Biggs, Grosvenor Americas’ Vice President, Investment. “The submarket benefits from expanding employers migrating from western Silicon Valley and tailwinds for the hardware sector, particularly the semiconductor space.”
Orchard-Trimble is a modern technology campus with R&D lab space, which was comprehensively renovated as the showpiece of the MWest portfolio. The property boasts noteworthy architectural features from a high-visibility location. The distinctive glass window system and brick veneer differentiate the property on Trimble Road, which is accessed by 25,000 cars per day.
“Orchard-Trimble bolsters our portfolio as a well-located asset in the path of growth, which fits our strategy of identifying opportunities to hold for the long-term,” added Biggs. “Additionally, Toshiba’s targeted sustainability initiatives align with Grosvenor’s commitment to minimize the carbon footprint of its properties.”
A primary pillar under Grosvenor’s Environment, Social & Governance (ESG) program is its World Green Building Council’s Net Zero Carbon Buildings Commitment. As part of its goal to achieve net zero operating emissions by 2030, Grosvenor will enhance sustainability measures by implementing the use of renewable energy and an energy optimization program at the Orchard-Trimble campus.
Grosvenor has operated a diversified real estate investment and development business in North America since 1952. The Company actively manages its $2.8B investment portfolio and is executing on a proprietary development pipeline that will deliver 4,200 homes across its active markets. Consistent with the firm’s farsighted approach to investment and development, Grosvenor Americas values long term partnerships: across their nine active investment partners, the average relationship is 20 years.
Notes to Editors
About Grosvenor Americas:
Grosvenor Americas has been an active developer and investor in several high-quality cities across the U.S. and Canada for 69 years. Our strategy is to invest in vibrant urban areas where our activities can make a positive contribution to neighborhoods and communities, which we deliver through our Living Cities approach. Since 2004, we have helped supply 12,300 quality homes and have transacted $4.6bn in investment property in the high-growth markets where we operate.
As one of the first North American signatories to the World Green Building Council’s Net Zero Carbon Buildings Commitment, our business is guided by ESG principles and underpinned by a promise to achieve net zero operations by 2030.
We are active in the high-growth transit-oriented and/or amenity-rich neighborhoods of Seattle, Vancouver, the San Francisco Bay Area and Washington, D.C. Our Development Program focuses on residential mixed-use projects; most developments in our USD $2.7bn pipeline will deliver to LEED Gold standards. We also add value to residential, commercial and retail assets, actively managing a portfolio of 59 stable properties in our Investment Program. Additionally, we run a Structured Development Finance business that provides funds to leading residential developers who provide much-needed housing.
As of December 31, 2020, Grosvenor Americas had assets under management of USD $3.6bn.
We are part of Grosvenor Group, one of the world's largest privately-owned international property companies and active in Britain & Ireland, Europe, Asia Pacific and North America. With $15.2bn of assets under management and a track record of 344 years, Grosvenor develops, manages and invests with a purpose of improving property and places to deliver lasting commercial and social benefit.
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