Trammell Crow Company and CBRE Investments broke ground last week on the Cochrane Technology Center in north Morgan Hill.
The project is a 500,000-square-foot “Class A business park” located on Highway 101 between Cochrane and Half roads, says a press release from Dallas, Texas-based global real estate developer Trammell Crow. The project—formerly known as Redwood Tech at 101—will be built in a single phase with five industrial buildings on the 30-acre site, ranging in size from 73,000 to 138,000 square feet.
The buildings are designed to be flexible in order to accommodate multiple tenants and a variety of needs for companies in the valley.
Cochrane Technology Center is the largest speculative industrial development under construction in Silicon Valley, says the press release.
The developers expect to complete construction in early 2024.
“We are excited to begin construction on the Cochrane Technology Center, a development that we have worked closely with Morgan Hill residents, city leaders and planners to bring to life,” said Will Parker, TCC Northern California Principal. “The final project plan will meet the needs of the Morgan Hill community and its economic development goals. Cochrane Tech will also meet the persistent demand for advanced manufacturing space in the Silicon Valley industrial market—a demand that continues to outpace supply, even in the current economic backdrop.”
Rob Shannon, Chip Sutherland and Brian Matteoni of CBRE are tasked with the marketing and leasing of the property, says the press release. Other project partners include architect HPA; Kier and Wright, the project’s civil engineer; and Millie & Severson, acting as the general contractor.
“Today’s occupiers have a strong need for sophisticated and efficient industrial and logistics facilities,” said Nathan Zinn, Portfolio Manager for CBRE Investment Management. “We’re proud to partner with TCC to bring this modern, Class A asset to market and believe that it will provide long-term value for both our investors and industrial end-users in the Silicon Valley area.”
The groundbreaking of Cochrane Tech follows delivery and sale of TCC’s and CBRE’s Butterfield 5 Technology Park, located near Butterfield and Sutter boulevards.