June 30, 2020 Comments (0) Views: 429 Bay Area, California News

KBS Divests Pair of Office Buildings in San Jose for $95M

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Newport Beach-based KBS sold two additional buildings at District 237, a Class A office/R&D complex in San Jose. The properties, formerly known as Corporate Technology Centre, were purchased by Miami-based EXAN Group for $95.2 million.

The buildings were held by KBS Real Estate Investment Trust II. Located in the North San Jose submarket, the properties included 100 Headquarters Dr. and 200 Holger Way and totaled 142,710 square feet of space. Built in 1999 and 2001, the buildings were part of a larger 415,492-square-foot campus where KBS previously sold three of the eight buildings.

KBS’ Rodney Richerson says, “Tech tenants who like Silicon Valley and are seeking more competitive rates are drawn to this submarket, and discerning office investors like EXAN Group recognize how an institutional-grade property like District 237 adds value to their portfolio.”

CBRE’s Joe Moriarty, Scott Prosser, Jack DePuy, Russell Ingrum, Brad Zampa and Mike Walker brokered the sale.

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