CBRE Arranges $67.4 Million Financing for Advanced Manufacturing Campus in San Jose

CBRE announced it arranged $67.4 million in financing for Forge North First, a mixed-phase industrial/R&D campus and advanced manufacturing development in San Jose's Golden Triangle submarket.

Mike Walker, Brad Zampa, and Andy Gross of CBRE's Debt & Structured Finance team in San Francisco arranged the five-year bridge loan with floating-rate, non-recourse financing from an institutional lender on behalf of Four Corners Properties and a West Coast-based institutional investor.

According to CBRE Research, North San Jose's industrial and R&D market continues to gain momentum, with vacancy declining to 4.1% amid nearly 14 million square feet of active tenant demand across Silicon Valley, the highest level since 2019. Demand is being fueled largely by growth in artificial intelligence and advanced technology sectors. The submarket's advanced manufacturing segment is even more constrained, with just 563,000 square feet of specialized manufacturing space in inventory, all of which is currently occupied.

"The combination of surging occupier demand and extremely limited supply positions Four Corners to create significant value at Forge North First," said Zampa, Executive Vice President at CBRE.

Four Corners Properties, an established local investor and developer founded in 2005, has invested in 50 buildings totaling 7.2 million square feet. In January 2026, Four Corners Properties and its institutional partner acquired the existing 205,800-square-foot, five-building campus from Boston Properties.

The mixed-phase program includes comprehensive modernization of the existing campus and development of two advanced manufacturing buildings totaling approximately 239,000 square feet.

Located in the Golden Triangle between Interstates 880, 237 and 101, Forge North First is minutes from the Orchard VTA Station with immediate access to major highways. San José Mineta International Airport is 2.5 miles away.