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Goodman Group Acquires 319800 SF Office Campus In Milpitas From Analog Devices For $40.4M

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SOLD
$40,400,000

California

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Office319,800 SF
Sold 04/10/2025
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Property Image
SOLD

Goodman Group Acquires 319800 SF Office Campus In Milpitas From Analog Devices For $40.4M

720 Sycamore Drive

See Similar Deals
Office319,800 SF
Sold 04/10/2025
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$126
Total Square Footage:319,800 SF
Transaction Type:Sale

A 17.3-acre vacant office and R&D campus was sold for $40.4M. The property includes 319,800 square feet and is located at 720, 790 Sycamore Drive, 1511 Buckeye Drive, 1610 & 1630 McCarthy Boulevard in the Milpitas market. The sale price equates to $126 per square foot, which is 47% below its 2024 assessed value.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $40,400,000
  • Square Footage: 319,800
  • Address: 720, 790 Sycamore Drive, 1511 Buckeye Drive, 1610 & 1630 McCarthy Boulevard
  • Market: Milpitas
  • Price per Square Foot: $126
  • Buyer: Anthony Rozic - Goodman Group
  • Seller: Vincent Roche - Analog Devices
  • Broker: Cushman & Wakefield

Goodman Group acquired the property from Analog Devices, with the transaction facilitated by Cushman & Wakefield, highlighting strong activity in the market amid high tenant demand for large parcels in Silicon Valley.

Players

AR
Anthony Rozic
3 deals$72.4M volume
BUYER
Analog Devices
Analog Devices
SELLER

Details

SOLD
IMAGE: Anthony Rozic & Vincent Roche DATE: 04/10/2025 ADDRESS: 720, 790 Sycamore Drive, 1511 Buckeye Drive, 1610 & 1630 McCarthy Boulevard MARKET: Milpitas ASSET TYPE: Office ~ ACRES: 17.3 BUYER: Anthony Rozic - Goodman Group (@Goodman.Group) SELLER: Vincent Roche - Analog Devices BROKER: Cushman & Wakefield (@CushWake) SALE PRICE: $40,400,000 SF: 319,800 ~ PPSF: $126 NOTE: Goodman Group bought a 319,800 SF vacant office and R&D campus in Milpitas from Analog Devices for $40.4M—47% below its 2024 assessed value. The 17.3-acre site, listed by Cushman & Wakefield, is expected to be redeveloped for industrial use amid high tenant demand and limited large parcels in Silicon Valley.

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Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$143,532.66
Cash-on-Cash Return-1.27%
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