Joseph Sumberg & Tom Steyer Of Galvanize Real Estate Acquire Industrial Campus In Milpitas For $94M

The Cadillac Court industrial campus comprises four properties located at 901, 1001, 1123, and 1151 Cadillac Court in Milpitas, CA. The total sale price for the properties was $94,000,000. With a substantial square footage of 302,450, the price per square foot stands at $311.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $94,000,000
• Buyer: Joseph Sumberg & Tom Steyer - Galvanize Real Estate
• Seller: David Luski - DRA Advisors
• Broker: Newmark
• Square Footage: 302,450
• Price per Square Foot: $311
• Date of Transaction: 09/24/2026
• Market: Milpitas, CA

Galvanize Real Estate, the property arm of Tom Steyer’s investment firm, has acquired the site as its first purchase in California. The new owner has plans to enhance the site’s power capacity and incorporate solar and battery storage in response to the rising demand for industrial space that supports advanced manufacturing and data centers.