CHICAGO – June 17, 2026 – Stotan Industrial announced the closing of 876 Yosemite Drive in Milpitas, California, in partnership with Clarion Partners. The transaction marks Stotan’s first development project in California and a significant milestone for its growing West Coast platform.
Located within Silicon Valley’s advanced manufacturing corridor, the 7.41-acre site offers access to I-880, I-680, SR-237, Montague Expressway, and U.S. Route 101. Stotan plans to redevelop the existing property into a Class A industrial facility totaling approximately 148,500 square feet.
The project is designed to serve a broad range of advanced industrial users, including companies in the semiconductor, robotics, electric vehicle, AI hardware, advanced manufacturing, and logistics sectors. Planned building features include 36-foot clear height, ESFR sprinklers, enhanced power capacity, integrated office space, efficient truck courts, and ample employee parking.
“876 Yosemite represents exactly the type of opportunity Stotan was built to pursue: complex infill development in a market where relationships, creativity, and disciplined execution matter,” said Will McPhee, Vice President and West Coast Market Officer at Stotan Industrial. “Silicon Valley continues to attract users that need modern, flexible industrial space close to talent, infrastructure, and the region’s advanced manufacturing base.”
Industrial land in Santa Clara County remains limited, with less than 8% of the county’s land zoned for industrial use. Silicon Valley industrial vacancy remains below 5%, while much of the existing inventory consists of older product. Together with significant barriers to new development, these market fundamentals position 876 Yosemite to deliver modern, institutional-quality space in one of the country’s most competitive industrial markets.
“This closing is an important milestone for Stotan as our first development project in California,” said Dan Fogarty, Chief Investment Officer of Stotan Industrial. “The transaction required a buyer that could move quickly, navigate a complex structure, and provide certainty through diligence. Our team was able to do that, and we are excited to partner with Clarion Partners as we move into the development phase.”
Clarion Partners Vice President Kevin Salata said, “With 876 Yosemite, Clarion will expand its existing 25-building industrial portfolio in the Bay Area with this high-quality asset in a supply-constrained submarket with strong leasing fundamentals. We look forward to partnering with the Stotan Industrial team on the project.”
Construction is anticipated to begin in Q3 2027, with delivery expected in Q3 2028.
About Stotan
Founded in 2021, Stotan Industrial is a national industrial real estate development and acquisition firm headquartered in Chicago, with regional offices in Charlotte, NC, and El Segundo, CA. The firm targets high-conviction industrial markets across the U.S., drawing on relationship-driven access, market insight, technical expertise, and disciplined execution to navigate complex opportunities and deliver industrial assets in markets supported by durable demand drivers. For more information, please visit stotanindustrial.com.
About Clarion
Clarion Partners, an SEC-registered investment adviser with FCA-authorized and FINRA member affiliates, has been a leading U.S. real estate investment manager for more than 40 years. Headquartered in New York, the firm maintains strategically located offices across the United States and Europe. With over $72 billion in total real estate and debt assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to institutional investors across the globe. Clarion is scaled in all major property types and was an early entrant into the U.S. industrial sector. The Firm’s global industrial team manages a 940+ property portfolio in the U.S. and Europe consisting of almost 250 million square feet. Clarion Partners is a partially owned subsidiary of Franklin Templeton. For more information visit www.clarionpartners.com and follow us on LinkedIn and YouTube.
