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Insight Realty Company | Partnership Acquires Santa Clara Property, Plans Redevelopment
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19 Dec Partnership Acquires Santa Clara Property, Plans Redevelopment

Posted at 20:43h in Press by admin

5301 Patrick Henry Drive Will Offer Class-A Creative Space in Excellent Location

Santa Clara, CA., December 19, 2014 – Today a joint venture between Kinship Capital, Pearlmark Real Estate Partners, and Insight Realty Company purchased 5301 Patrick Henry Drive in Santa Clara. The property is approximately 7 acres with a vacant 127,000 square foot office and R&D facility.

Nick Thomson and Ethan Meers of Kinship Capital, Ed Ryder of Pearlmark, and Dennis Randall, Matt Love and John Pringle of Insight were the lead executives working on the deal. The partnership plans to expand and redesign the building while increasing the parking capacity. Once complete, the project will offer Class-A creative office space with 25’ clear heights and a variety of amenities and features that will appeal to technology tenants in the marketplace.

Dennis Randall, Managing Director of Insight, stated, “We have worked for months to design a unique and special project that will be a standout leasing opportunity in a fantastic submarket. Insight is pleased to partner with Kinship and Pearlmark to acquire and redevelop the property.”

We are confident that the finished product will be the best property in the submarket. Kinship is making significant efforts to acquire and develop commercial property throughout the Bay Area with a long investment horizon and ample equity capital available to invest in 2015 and beyond,

“We have worked with both Kinship and the Insight principals on other successful investments and we look forward to continuing those relationships with this unique and exciting project.” said Ed Ryder, Managing Director of Pearlmark.

The partnership acquired the property on December 19, 2014 and was specifically attracted to its outstanding location and redevelopment potential. The team expects to begin construction immediately and expects to deliver the finished project in 2016.

Jeff Arrillaga of Newmark Cornish & Carey will be leasing the project for the partnership.

Link to downloadable PDF of release

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DENNIS L. RANDALL, JR.

Managing Director

Bio Photo BW Dennis Randall

   dennis.randall@insightrealtyco.com

As Managing Director, Dennis is responsible for sourcing, underwriting and executing Insight’s office/R&D platform consisting of investment, renovation and ground-up developments as well as asset management operations.

 

Insight’s predecessor entity, Insight Development Partners, was founded by Dennis in June of 2004 to take advantage of real estate opportunities in the Bay Area and Silicon Valley. Since founding Insight, Dennis has partnered with other firms to acquire or develop over one million square feet of office and R&D space in northern and southern California.

 

Prior to founding Insight Development Partners, Dennis was Senior Director of Real Estate Development overseeing the Silicon Valley Region for Opus Group, one of the largest development firms in the United States. During his tenure with Opus he developed one million square feet of “Class A” office, R&D and industrial properties and was awarded Employee of the Year in 2001.

 

Dennis has over 25 years of experience in all aspects of real estate development, asset management, marketing, and leasing. Dennis’s career also includes tenures with Paragon Group, Cushman & Wakefield, and Prometheus Development. During his career he has acquired, entitled or developed over 2.5 million square feet of office, R&D and industrial projects and he has leased and/or sold over 3.5 million square feet a space with a total market value over $400 million.

 

Dennis holds a California Real Estate Brokers License and is a member of the Urban Land Institute, NAIOP and REIAC. He sits on the Board of Directors for the San Jose Downtown Association and is a founding member of the Downtown Committee for the Silicon Valley Chamber of Commerce. Dennis is also a member of numerous feedback and selection committees for both the City of San Jose and the San Jose Redevelopment Agency. Dennis graduated from the University of Southern California with a BA in Political Science.

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