Stanford Analysis Park. Picture courtesy of Cushman & Wakefield
Stanford College has tapped Cushman & Wakefield’s Northern California Asset Providers group to supply the complete suite of property administration companies for a 14-building, 1.1 million-square-foot workplace campus, alongside a 7 million-square-foot triple-net floor lease portfolio in Palo Alto, Calif. The agency will present leasing, asset administration, challenge and improvement companies, in addition to leverage brokerage and sustainability operations throughout the campus.
Senior Managing Director Marsha Ramsey leads the Cushman & Wakefield group overseeing the portfolio’s property administration. Director of Operations Trude Hursh and Senior Assistant Property Supervisor Christ Narayan shall be managing the campus’ Transitions and High quality Management Providers. Extra members embrace Assistant Controller Phil Blair, Director & Occupier Providers Lead of Venture and Improvement Providers Jason Jacobson, Managing Director Rachel Schiftan and Basic Supervisor Alissa Lee. Vice Chairmen Ben Paul and David Hiebert will present brokerage and leasing companies.
Inside the world’s first college analysis park
The portfolio in query is a part of Stanford Analysis Park, a 700-acre, 10 million-square-foot workplace and expertise campus positioned round Web page Mill Highway. Its first constructing broke floor in 1951, and was the headquarters of high-tech pioneer Varian Associates.
The preliminary challenge, known as the Stanford Industrial Park, began as a joint initiative between Stanford College and the Metropolis of Palo Alto. Within the Nineteen Fifties, town annexed a number of parcels of SRP-owned land for the the creation of the world’s first college analysis park.
The park’s historic tenants embrace Apple, Fb, Hewlett-Packard, Xerox and Lockheed. Their work there produced many inventions such because the microwave, private pc mainframes, laser printers and ethernet cabling, in addition to the expansion of a number of social media corporations.
READ ALSO: How Property Managers Can Unlock Proptech’s Potential
Total, the advanced at the moment has greater than 150 tenants within the tech, engineering and life science sectors together with Google, Tesla, VMware and Jazz Prescribed drugs. Tesla makes use of its house for the event and design of electrical car battery prototypes. VMware, the campus’ largest tenant, makes use of its house for its cloud computing {hardware} and software program options operations.
With fast entry to El Camino Actual and Interstate 280, Stanford Analysis Park gives fast entry to a lot of the Bay Space and is inside 2 miles of the College’s major campus. Downtown San Francisco and San Jose are 28 and 15 miles away, respectively.
Silicon Valley’s workplace sphere
Regardless of attracting giant investments from Google and Meta, Silicon Valley’s workplace sector has struggled within the face of constant obstacles, together with financial uncertainty and company downsizing pushed by an omnipresent hybrid work schedule. Nonetheless, the world’s total year-over-year fundamentals are optimistic. In accordance with information from a fourth quarter 2022 report from Kidder Mathews, the area has seen 479,000 sq. toes of leasing exercise, alongside 8 million sq. toes of latest deliveries year-over-year.
Latest headlines from across the space embrace Prime Information Facilities’ November 2022 groundbreaking on a brand new 80,000-square-foot turnkney, build-to-suit information middle in Santa Clara. That very same month, Blue River Know-how bought an 83,590-square-foot workplace constructing in the identical space from Toeniskoetter Improvement.
