Lift Partners acquires heavy industrial-zoned land parcel in Silicon Valley for $25.75M

SAN FRANCISCO, July 1, 2026 – JLL Capital Markets announced today the $25.75 million sale of 651 Martin Avenue, a 7.17-acre infill industrial development site in Santa Clara, California.

JLL represented the seller in the transaction. Lift Partners acquired the asset.

The site currently features three individual structures including a 29,644-square-foot warehouse, a 44,162-square-foot warehouse and a 4,393-square-foot service center. The 312,325-square-foot parcel is zoned Heavy Industrial, a designation that permits a wide range of uses including warehouse and distribution, data centers, manufacturing and industrial outdoor storage facilities. The buyer is focused on the near-term lease up of the site while pursuing entitlements for industrial development. At 45% floor area ratio, the property can accommodate up to 148,635 square feet of new development.

Located in the Santa Clara submarket, the property benefits from immediate access to Silicon Valley's innovation ecosystem and affluent consumer base. Within a five-mile radius, the site reaches more than 608,000 residents across 227,000 households and provides connectivity to over 30,000 establishments. The location offers proximity to major technology headquarters and benefits from the region's highly educated workforce, with 56.3% of the surrounding population holding bachelor's or advanced degrees.

The JLL Capital Markets team was led by Senior Director Erik Hanson and Analysts Brendan Bury and Tasman Lynch.

"Parcels of this size with heavy industrial zoning rarely become available in Silicon Valley, and the competitive bidding process demonstrated strong investor appetite for infill development sites in core coastal markets," Hanson said. "The property's flexible zoning and strategic location position it to serve the region's growing advanced manufacturing sector."

JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of March 31, 2026. For over 200 years, clients have trusted JLL, a Fortune 500^® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

Founded in January 2015, Lift Partners is a full-service real estate investment company focused on the adaptive re-use and repositioning of industrial properties along the West Coast. Since inception, Lift has raised $750 million in discretionary capital via Lift Fund I, II, III, and IV and acquired 66 assets totaling $1.2 billion across 6.5 million square feet in the Bay Area, Seattle, and Southern California.