Galvanize Real Estate (GRE), the real estate platform of Tom Steyer’s climate firm Galvanize, has made its first California acquisition with a deal for the Cadillac Court Industrial Portfolio, a four-building campus in Milpitas. The San Francisco Chronicle reported the purchase price as $94 million.
Newmark executive vice chairman and president, Western Region Capital Markets Steve Golubchik, vice chairman Edmund Najera, senior managing director Darren Hollak and director Brendan Raney represented the seller, reported as DRA Advisors. Newmark executive managing director Kevin Hatcher advised on the sale of the property as a local market expert.
“The Silicon Valley industrial market is seeing stronger leasing activity, declining vacancy and more demand from advanced manufacturing and AI-driven companies,” said Golubchik. “Cadillac Court offered the opportunity to invest in that momentum in one of the Bay Area’s most tightly held industrial submarkets.”
Built between 1991 and 1994, the 300,000-square-foot campus is approximately 95% leased. GRE plans a series of energy-efficiency upgrades.
