Milpitas, Calif. (September 24, 2013) – Berrueta Investments, a local partnership with investments in Milpitas, Sunnyvale, San Jose, and Sacramento, bought a 66,664 square foot office/wet lab building at 521 Cottonwood Drive, Milpitas, California. Kidder Mathews commercial real estate brokers Mary Hines and Jennifer Vergara represented the buyer. The seller, a major global pharmaceutical company, was represented by James Bennett, also of Kidder Mathews.
A portion of the building will be turned into wet lab incubator space. This type of space is currently in high demand in the Bay Area with limited inventory available. Other areas of the building, medical device/biotech spaces, will also be leased by Kidder Mathews.
Vergara, who is one of the principals at Berrueta Investments, is enthusiastic about this new opportunity which will allow companies to start small but grow with flexibility in a building that has life science infrastructure as well as wet labs in place.
About Kidder Mathews
Kidder Mathews is one of the largest independently owned commercial real estate firms on the West Coast, with over 450 real estate professionals and staff in 9 offices in Washington, Oregon, and California. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, sustainability, and project and construction management services for all property types. The firm performs $2.5 billion in transactions, manages over 25.6 million square feet of space, and conducts 1,300 appraisals annually. For more information, visit www.kiddermathews.com