New R&D Project Coming To Santa Clara
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A JV of Kinship Capital, Pearlmark Real Estate Partners, and Insight Realty Company bought 5301 Patrick Henry in Santa Clara, which includes seven acres and a vacant 127k SF office and R&D facility. The partnership announced plans to expand and redesign the building and increase parking capacity. (Recent evidence the Santa Clara market is white hot: ServiceNow's new lease on Lawson Lane.) Expect to hear Kinship's name more often; the company is making big moves to acquire and develop commercial property throughout the Bay Area with a long investment horizon, says principal Nick Thomson. Construction will start immediately and delivery is expected in 2016. Jeff Arrillaga of Newmark Cornish & Carey will be leasing the project.