KKR-backed firm sells San Jose office campus for $55m

Drawbridge Realty, an independent real estate investment platform backed by KKR, has sold the 5300-5350 Hellyer Avenue office campus in San Jose to an affiliate of the Empire Square Group for $55.5 million.

The 160,000-square-foot office campus is 100 percent leased to Cobham Advanced Electronic Solutions and serves as its corporate headquarters.

This disposition comes on the heels of Drawbridge’s recent new equity commitments of $240 million. These new funds will provide Drawbridge with discretionary capital to acquire $600 million of additional properties in target markets across the United States. The new infusion of funds was led by Drawbridge’s co-owner, global investment firm KKR, which played an important role in procuring the new capital alongside others.

Drawbridge is a San Francisco–based real estate investment company that targets commercial property investments in growth markets across the United States. Its portfolio primarily consists of office properties leased long term to large corporations, with an emphasis on strategically important locations. Drawbridge has a long history of successfully creating value for corporate clients and investors, and has completed transactions with companies including Bayer, Broadcom, IBM, Google, Johnson & Johnson, L-3 Technologies, Lockheed Martin, Medtronic, National Instruments, and Northrop Grumman.