May 23, 2017
An affiliate of New York-based Blackstone Real Estate Partners sold 2851 Junction Ave., a 155,613-square-foot office building in San Jose for $82 million. The asset had been held by the investor since November 2016, when it acquired it from Hines for $76 million.
The four-story building is located on a 6.3-acre site, and is fully occupied on a NNN lease through September 2029 to TSMC North America, a unit of Asian semiconductor titan Taiwan Semiconductor Manufacturing Co.
JLL’s Michel Seifer and Will Connors had the sales listing assignment on behalf of Blackstone affiliate BRE Junction Property Owner. The buyer was LL 2851 Junction LLC.
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