October 15, 2020
An affiliate of New York-based Blackstone Group Inc. is acquiring two buildings in San Jose’s Coleman Highline office complex, reportedly for roughly $275 million. The properties are leased to Roku Ink., a digital content streaming device maker.
The deal with Blackstone’s nontraded REIT, BREIT, works out to about $770-per-square-foot for the assets. The Coleman Highline property is being developed by Hunter Storm and is near a Caltrain station and Major League Soccer’s Earthquakes Stadium.
It is the same 1.75-million-square-foot mixed-use office, retail, hotel, and restaurant complex at 1125 Coleman Ave. where Roku claimed 730,000 square feet of space at last year for its corporate headquarters. Verizon also leased 650,000 square feet at the eight-building project.
CBRE’s Mike Charters, Jeff Houston and Mike Benevento handle leasing for Coleman Highline.
*Photo courtesy of Hunter Properties
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