Pending
Fremont · 10,010 SF
Bay Area Industrial · South Bay · I-880
Milpitas Industrial Real Estate
Industrial sales and leasing in Milpitas and the south end of I-880, from Jeffrey Ida and Brendan Gallagher, Founding Principals of The Ida Group at Lee & Associates – San Francisco. Private-owner industrial sales and leasing across the Bay Area. Most of our assignments are 2,000–75,000 SF buildings and $1M–$20M sales: warehouses, yard and industrial outdoor storage (IOS) sites, owner-user buildings, small-bay multi-tenant properties and sale-leasebacks.
Milpitas warehouse inventory
5.0M SF
Warehouse direct vacancy
7.1%
Warehouse asking rent /SF/mo
$1.62
Industrial direct vacancy
1.2%
01 — Milpitas
Industrial brokers for Milpitas owners
Milpitas sits between I-880 and I-680 at the north end of San Jose, with about 9 million SF of warehouse and industrial space. Its buildings serve Silicon Valley manufacturers, distributors and contractors, and its vacancy is well below the East Bay’s.
We cover Milpitas as part of our South Bay and I-880 practice. Nearby we have closed 15 transactions in San Jose, Santa Clara, Sunnyvale and Fremont: 15 sales totaling $121,400,000, including 1800 Dobbin Dr, San Jose ($20,550,000) and 750 Story Rd, San Jose ($15,750,000, a 3.9-acre yard).
02 — Track record
Our nearest deals: San Jose, Santa Clara, Sunnyvale and Fremont
| Year | Property | City | Deal | Building | Sale Price |
|---|---|---|---|---|---|
| 2024 | 1631 S 10th StreetOwner-user | San Jose | Industrial Sale | 30,000 SF | $6,900,000 |
| 2023 | 1588 Meridian | San Jose | Sale | — | $3,900,000 |
| 2023 | 1591 Hamilton | San Jose | Sale | — | — |
| 2022 | 750 Story Road | San Jose | Sale | 9,732 SF | $15,750,000 |
| 2022 | 5145-5155 Stevens Creek Blvd | Santa Clara | Sale | 14,667 SF | $6,800,000 |
| 2022 | 1820 Stone AvenueOwner-user | San Jose | Sale | 2,936 SF | $1,100,000 |
| 2021 | 1130 Ringwood Court, | San Jose | Sale | 58,760 SF | $16,550,000 |
| 2021 | 2751 Aiello StreetOwner-user | San Jose | Sale | 9,837 SF | $3,250,000 |
| 2021 | 36527 Fremont BlvdOwner-user | Fremont | Industrial Sale | 3,012 SF | $1,525,000 |
| 2021 | 1130-1132 McKendrie StreetOwner-user | San Jose | Office Sale | 2,416 SF | $1,150,000 |
| 2020 | 1800 Dobbin Drive | San Jose | Industrial Sale | 81,475 SF | $20,550,000 |
| 2020 | 660 N King Road | San Jose | Industrial Sale | 40,200 SF | $9,250,000 |
| 2017 | 769 North Mathilda Avenue | Sunnyvale | Land Sale | 12,748 SF | $21,000,000 |
| 2017 | 357 East Taylor Street | San Jose | Industrial Sale | 129,646 SF | $10,500,000 |
| 2013 | 2060 Aborn RoadOwner-user | San Jose | Office Sale | 12,390 SF | $3,175,000 |
Source: The Ida Group closed-transaction ledger, 2007–2026. Sale prices are recorded closing prices; lease terms are confidential. Owner-user = sold to a buyer who occupies the building. Transactions before 2023 closed while the team was at its prior firm; the team joined Lee & Associates – San Francisco in 2023.
04 — Market snapshot
Milpitas industrial, Q2 2026
| Milpitas, Q2 2026 | Inventory | Direct vacancy | Availability | Asking rent /SF/mo NNN | YTD net absorption |
|---|---|---|---|---|---|
| Warehouse | 5.0M SF | 7.1% | 11.7% | $1.62 | −120,495 SF |
| Industrial (other) | 4.0M SF | 1.2% | 8.4% | $1.86 | +27,812 SF |
| Silicon Valley industrial overall | 58.7M SF | 4.4% | 4.7% | $1.84 | +370,583 SF |
Milpitas’ non-warehouse industrial space is nearly full (1.2% direct vacancy), and 294,000 SF is under construction. Warehouse space is looser at 7.1%. Silicon Valley overall remains the tightest industrial market in the Bay Area.
Source: Kidder Mathews, Silicon Valley Industrial Market Report, Q2 2026.
How we sell
What an owner gets from us
A number built from closed sales
We price from recorded sales, not asking prices, and show you the addresses, prices, building SF, land SF and $/SF behind it. On yard and low-coverage sites we value the land separately.
The principals do the work
Jeffrey Ida and Brendan Gallagher price the property, run every tour and negotiate every offer. You get a written update every week.
The right buyer pool
Buildings under about $20M mostly sell to owner-users and private investors, not institutions. We market on CoStar, LoopNet and Crexi and go direct to our private-buyer list, backed by the national Lee & Associates platform.
The Team
The Ida Group · Lee & Associates – San Francisco
The Ida Group is part of the Lee & Associates – San Francisco office at 242 California St. Founding Principals Jeffrey Ida and Brendan Gallagher lead every assignment.
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San Leandro · Oakland · Hayward · I-880 Corridor · Fremont · East Bay · South Bay · San Francisco · All Bay Area Industrial
Own industrial property in Milpitas?
The Ida Group · Lee & Associates — San Francisco
242 California St, San Francisco, CA 94111
242 California St, San Francisco, CA 94111
© 2026 The Ida Group at Lee & Associates. All rights reserved.