At a glance
- The three-building, 416,126-square-foot Class A office campus at 55 Almaden Blvd. in downtown San Jose is anchored by Zoom's global headquarters.
- KBS Real Estate Investment Trust III owned the property and paid $150 million for it in 2015, per Connect CRE.
- Office owners have mostly chosen capex and extensions over price discovery this year, as this publication has reported.
KBS has closed the sale of The Almaden to SFF Realty Partners, Connect CRE reported on Oct. 8. The three-building, 416,126-square-foot Class A office campus at 55 Almaden Blvd. in downtown San Jose is anchored by Zoom's global headquarters.
Connect CRE called it the largest multi-tenant San Jose office sale since the pandemic.
KBS Real Estate Investment Trust III owned the property and paid $150 million for it in 2015, per Connect CRE. The 2015 purchase price works out to roughly $360 per square foot across the 416,126-square-foot campus.
Office owners have mostly chosen capex and extensions over price discovery this year, as this publication has reported. A closed sale with a named buyer puts a fresh comparable into a market that has produced few of them.
Reported by the Deals desk from Connect CRE, PRED entity records — SFF Realty Partners and PRED archive — cre-owners-are-choosing-capex-over-price-discovery. Published . Corrections