March 13, 2019
Tokyo-based developer and real estate investor Mori Trust affiliate, MT Silicon Valley One, is acquiring a three-building office campus in San Jose from Menlo Park-based Lane Partners for $429-million. The all-cash deal for the property, that’s fully leased to Micron Technology, would rank as Silicon Valley’s largest so far in 2019.
The complex at 110, 120 and 130 Holger Way encompasses 604,000 square feet, as well as a multi-level parking garage. Located near the interchange of State Route 237 and Zanker Road, the property was leased in its entirety by Boise, ID-based Micron Technology last year.
Cushman & Wakefield’s Eric Fox told the San Jose Mercury News, “At a high level, this deal shows the interest on the part of global investors in Silicon Valley, the world’s premier technology market.” It also reflects the growing strength of the north San Jose submarket that’s seen a number of properties trade hands recently.
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