SAN JOSE – A large office building in the north of San Jose was bought by a local real estate company, a sign that investors are maintaining a healthy appetite for select properties in the Bay Area’s tech hubs.
The building, located near the State Route 237 and Zanker Road junction in San Jose, was purchased by a subsidiary of Menlo Equities, a veteran Bay Area real estate company.
Holger Technology Partners, a subsidiary of Menlo Equities, paid $ 35 million for the building, which is located at 300 Holger Way, according to filings filed Nov.24 with the Santa Clara County Registrar.
KBS Capital Markets Group sold the 99,600 square feet building. The building is part of the District 237 technology campus on Holger Way, near State Route 237.
At one point, KBS owned all eight buildings in the office town – a complex that the real estate firm bought in 2013 for $ 239 million.
As a result of the latest deal, KBS sold all eight buildings that were originally purchased.
Commercial real estate company CBRE arranged the purchase of the 300 Holger Way building. Cushman & Wakefield commercial real estate brokers Eric Hallgrimson, Steve Horton and Kelly Yoder searched for tenants for the building and provided market expertise for the deal.