Cornish & Carey Commercial Newmark announced that Elo Touch Solutions, a premier global supplier of touch-enabled technology, and portfolio company of The Gores Group, will expand its operations at a new global headquarters and center for innovation in Milpitas, California. In March of 2013, Elo’s approximately 150 California employees are scheduled to occupy nearly 75,000 square feet at 1033 McCarthy Boulevard within the Murphy Crossing campus.
Mike Saign, Cornish & Carey Commercial Newmark vice president, represented Elo in the transaction.
“We pioneered the touchscreen over 40 years ago and are excited to be neighbors with the high tech innovators in Milpitas and the broader Silicon Valley community,” said Craig Witsoe, Elo chief executive officer. “The new facility will enable our more than 12,000 customers and partners in over 60 countries around the world to visit our quality and engineering labs where we are developing new touch solutions for communications, computing and commerce.”
“The Elo and Gores teams were exceptional to work with in the strategic planning and procurement process of their new headquarters,” said Saign. “Milpitas offered an ideal central location for Elo’s existing employees and for recruiting new top talent from around the Bay Area. Murphy Crossing had the perfect mix of modern architectural design, amenities and ample green space for Elo to create a culture and environment supporting long-term employee retention and success.”
Murphy Crossing, a five-building cutting-edge office campus, is located in the heart of Silicon Valley along the Highway 237 corridor. Murphy Crossing offers an array of amenities including a full-service cafeteria, outdoor green space and sport courts. Cisco Systems, Sandisk and KLA Tencor are a sample of the industry-leading Murphy Crossing neighbors.
Jeff Arrillaga, Kurt Heinrich and Chris Shaffer, senior vice presidents with Cornish & Carey Commercial Newmark, represented landlord Spear Street Capital.
About Elo Touch Solutions
Elo Touch Solutions is a leading global supplier of touch-enabled technology, products and industry solutions. The Elo portfolio encompasses the broadest selection of OEM touchscreen components, touchmonitors, and all-in-one touchcomputers for the demanding requirements of diverse markets, including gaming machines, hospitality systems, industrial automation, interactive kiosks, medical devices, office equipment, point-of-sale (POS) terminals, retail displays, and transportation applications. Since Elo founders pioneered the touchscreen over 40 years ago, the Elo touch experience has consistently stood for quality, reliability and innovation. For more information on Elo products and services, please call 800-ELO-TOUCH (800-356-8682), visit us on the web at www.elotouch.com or direct email inquiries to customerservice@elotouch.com.
About The Gores Group LLC
The Gores Group, LLC is an investment firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm’s operating experience and flexible capital base. The firm combines the operational expertise and detailed due diligence capabilities of a strategic buyer with the seasoned M&A team of a traditional financial buyer. The Gores Group, which was founded in 1987 by Alec E. Gores, has become a leading investor having demonstrated over time a reliable track record of creating value in its portfolio companies alongside management. Headquartered in Los Angeles, the Gores Group maintains offices in Boulder, CO, and London. For more information, please visit www.gores.com.
About Cornish & Carey Commercial Newmark
A dominant regional real estate force since 1935, Cornish & Carey Commercial Newmark has an expansive reach as part of one of the largest commercial real estate service firms in the U.S. Regionally, Cornish & Carey Commercial Newmark has more than 280 agents in 13 strategically located offices throughout Northern California, creating a powerful platform from which to deliver superior services locally, while upholding its core values of integrity and knowledge. For further information, visit www.ccareynkf.com.
About Newmark Grubb Knight Frank
A part of BGC Partners, Inc. (NASDAQ:BGCP), Newmark Grubb Knight Frank is one of the largest commercial real estate service firms in the U.S. It brings together the strategic consultative approach to creating value for clients and leading position in the New York market that are hallmarks of Newmark; the complementary strengths of Grubb & Ellis in leasing and management, investment sales, valuation and capital markets services; and BGC’s financial strength, proprietary technology, expertise in global capital markets and deep relationships with many of the world’s leading financial institutions.
Newmark Grubb Knight Frank, together with its affiliates and London-based partner Knight Frank, employs more than 11,000 professionals, operating from more than 300 offices in established and emerging property markets on five continents. This major force in real estate is meeting the local and global needs of tenants, owners, investors and developers worldwide.