A Massachusetts chipmaker has sold a 128,000-square-foot industrial building in Milpitas for $32.8 million.
Analog Devices, based near Boston, sold the silicon wafer manufacturing plant 275 S. Hillview Dr., the San Francisco Business Times reported. The buyer was Gem Realty Capital, based in Chicago.
The two-story building near Interstate 680 and Highway 237 was once owned by Linear Technology, which Analog acquired in 2017 for $14.8 billion.
The building, which sits on 6.4 acres, has a 35,862-square-foot clean room and access to 10 megawatts of power.
The sale follows an announcement in January 2021 that Analog planned to close the plant and lay off its 255 employees.
Brokers Kelly Yoder, Carrick Young, Steve Horton and Todd Beatty of Cushman & Wakefield represented Analog. It’s unclear if brokers represented Gem Realty.
It’s the latest Silicon Valley move by Analog after it bought Maxim Integrated Products last year for $21 billion in an all-stock deal. The company is now consolidating its local operations at Maxim’s former headquarters at 160 Rio Robles Dr. in San Jose.
Early this month, Analog subleased two buildings containing 330,000 square feet of office space in Santa Clara to Pure Storage for undisclosed terms.
Gem Realty Capital is a real estate investment firm with $6 billion in assets under management. In October, it sold the ground and the leasehold interest in a 295-key Beverly Hills hotel for undisclosed terms.
[San Francisco Business Times] – Dana Bartholomew