Grosvenor Americas purchased a large tech campus consisting of three buildings in North San Jose.
The campus, located at the corner of Orchard Parkway and East Trimble Road, was bought in an all-cash deal for $108.5 million, the Mercury News reports. Gaw Capital purchased the campus for $93.5 million in 2018.
The 218,600-square-foot complex, which includes research space along with the offices, is currently leased to Toshiba America Electronic Components, who moved into the building in 2016.
This latest purchase reflects a high demand for Silicon Valley office properties.
ASML just opened a new research-and-development campus in North San Jose; Boston Properties is moving forward with plans to turn a downtown San Jose parking lot into a two-building office complex; and Intuitive Surgical recently received approval from the Sunnyvale Planning Commission to move forward with its new campus on Kifer Road.
Read more
Commercial
San Francisco
Invesco digs deeper into life science sector in Bay Area
[Mercury News] — Victoria Pruitt