Trammell Crow Company (TCC) and CBRE Global Investors have broken ground on the Butterfield 5 Technology Park in Morgan Hill, California. The industrial park will span 410,076 square feet and include five Class A buildings that are suited for Silicon Valley industrial users. The JV partnership acquired the 24-acre site, which is located west of Highway 101 at Butterfield Boulevard and Sutter Boulevard, in August 2020. The project is slated for completion during the first quarter of 2022.
“The Butterfield 5 project is a major investment in Morgan Hill and incorporates leading design features within a modern technology park. We are excited to move this development forward, as the project addresses a unique segment of the market with its small- and medium-sized buildings. We believe Butterfield 5 will meet market demand by providing attractive options for local companies seeking Class A light industrial space,” said Will Parker, Principal of TCC’s Northern California Business Unit. “Located 20 minutes from downtown San Jose and the heart of the Silicon Valley population center, Morgan Hill is now a part of the conversation for Silicon Valley tenants and positioned to compete for upcoming lease rollovers in the next 36 months,” Parker added.
The buildings within Butterfield 5 Technology Park will range from 70,280 square feet to 91,738 square feet and are designed to accommodate companies that require as little as 35,000 square feet of space. Features will include prominent glass entries, extensive landscaping, clear heights ranging from 28’ to 32’, and convenient access to Monterey Road and US-101.
The project is represented by the CBRE leasing team of Rob Shannon, Chip Sutherland and Brian Matteoni.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired 2,800 buildings valued at nearly $70 billion and over 625 million square feet. As of March 31, 2021, TCC had $15 billion of projects in process and $6.8 billion in its pipeline. It employs nearly 600 professionals in the United States and Europe.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 23 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial, healthcare, multi-family residential, through its operating subsidiary High Street Residential, and mixed-use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet the needs of its clients. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development and providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, and the world’s largest commercial real estate services and investment firm (in terms of 2020 revenue). For more information visit www.TrammellCrow.com.
