Galvanize, the climate and real estate investment firm founded by billionaire Tom Steyer and former Hall Capital Partners executive Katie Hall, has made its first California acquisition: a four-building industrial campus in Milpitas.
The buildings, often referred to as the Cadillac Industrial Park, are located at 901, 1021, 1123 and 1151 Cadillac Court, along a low-rise commercial and industrial corridor and date back to the 1990s. Galvanize purchased them Thursday for just under $94 million, according to sources familiar with the deal.
That’s about 25% more than seller DRA Advisors paid for the campus in 2024. The pricing suggests that out-of-state investors are willing to pay a premium to buy into Silicon Valley’s industrial market…