JLL Arranges $25.75M Sale of Heavy Industrial Site in Santa Clara to Lift Partners

JLL has arranged the $25.75 million sale of 651 Martin Avenue, a 7.17-acre infill industrial development site in Santa Clara, California, the firm announced July 1, 2026. Lift Partners acquired the asset in a transaction that JLL said demonstrated continued investor demand for heavy industrial-zoned land in Silicon Valley.

Property Details and Zoning

The 312,325-square-foot parcel currently contains three existing structures: a 29,644-square-foot warehouse, a 44,162-square-foot warehouse, and a 4,393-square-foot service center. The site carries a Heavy Industrial zoning designation, a classification that permits a broad range of uses including warehouse and distribution, data centers, manufacturing, and industrial outdoor storage facilities.

At a 45% floor area ratio, the property can accommodate up to 148,635 square feet of new development, according to JLL.

Lift Partners' Acquisition Strategy

Lift Partners, a West Coast-focused industrial real estate investment company founded in January 2015, acquired the site with a dual-track strategy. According to JLL, the buyer intends to focus on near-term lease-up of the existing structures while simultaneously pursuing entitlements for industrial development on the broader parcel.

Since its founding, Lift Partners has raised $750 million in discretionary capital across four funds — Lift Fund I, II, III, and IV — and has acquired 66 assets totaling $1.2 billion across 6.5 million square feet in the Bay Area, Seattle, and Southern California. The firm's stated focus is on the adaptive re-use and repositioning of industrial properties along the West Coast.

Market Context

The Santa Clara submarket, situated within Silicon Valley, offers the property access to a concentration of technology employers, a highly educated workforce, and a broad 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 commercial establishments. JLL noted that 56.3% of the surrounding population holds a bachelor's or advanced degree.

Senior Director Erik Hanson of JLL Capital Markets, who led the transaction team alongside analysts Brendan Bury and Tasman Lynch, commented on the scarcity of comparably sized heavy industrial parcels in the region. "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 represented the seller in the transaction. The identity of the seller was not disclosed in the announcement.

About the Brokers

JLL's Capital Markets group operates as a full-service global provider of capital solutions for real estate investors and occupiers, with more than 3,000 specialists worldwide and offices in nearly 50 countries. The group's services include investment sales and advisory, debt advisory, mergers and acquisitions, corporate finance, loan sales, equity and fund placement, net lease, derivative advisory, and energy and infrastructure advisory.

JLL (NYSE: JLL) reported annual revenue of $26.1 billion and operates in over 80 countries with a global workforce of more than 113,000 as of March 31, 2026.

Sources: JLL Newsroom, July 1, 2026