Newmark Facilitates Off-Market Sale of Premier R&D Campus in San Jose

October 9, 2025 9:00 AM

Newmark announces the Company has arranged the off-market sale of The Orchards, a Class A office/R&D campus located at 3000 and 3030 Orchard Parkway in San Jose, California. The two-building property, totaling approximately 130,944 square feet, was sold for an undisclosed amount, plus proceeds to the landlord from existing tenant buyouts.

Newmark Vice Chairman Joe Kelly and Executive Managing Director Jon Mackey, in collaboration with Executive Vice Chairman Steve Golubchik and Vice Chairman Edmund Najera, represented the seller, Barings. The buyer was Rosendin Electric, represented by Mike Rosendin from Colliers.

”Orchard Parkway continues to be a tier one location for an array of R&D uses in North San Jose, as proven by consistent absorption over the last two to three years,” said Kelly. “Barings was pleased to identify Rosendin Electric as an owner-user who found tremendous value in the quality of this private and secure, two-building campus.”

The campus features modern steel frame construction with state-of-the-art amenities, including needlepoint bipolar ionization HVAC purification, touchless building entry, recently upgraded outdoor spaces and a 3.5/1,000 parking ratio. Rosendin Electric, a leading electrical contractor with a strong presence in the Bay Area, plans to utilize the campus to support its growing operations in the region.

“Sentiment for Silicon Valley product has surged to levels we haven’t seen in years,” said Golubchik. “Market confidence is robust and continues to accelerate.”

Strategically positioned in North San Jose with convenient access to US 101 and the 680/880 corridor, 3000 Orchard Parkway comprises two stories with prominent signage opportunities and high-clear-height spaces. 3030 Orchard Parkway is a three-story facility equipped for high-density operations, including fitness centers, training rooms and collaborative workspaces. The campus is located one block from a VTA light rail station.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended June 30, 2025, Newmark generated revenues of over $2.9 billion. As of June 30, 2025, Newmark and its business partners together operated from 165 offices with over 8,400 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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