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Saturday, July 24, 2021

Large tech and medical complex in Campbell land buyer

Campbell – A large tech and medical office park in Campbell has been purchased by a seasoned real estate company in a deal that indicates it sold for less than its former price.

Kennedy Wilson, a worldwide real estate investment company, has purchased Vasona Technology Park, a seven-building complex near the corner of Winchester Boulevard and East Hacienda Avenue in Campbell’s for a total of 314,300 square feet.

Beverly Hills-based Kennedy Wilson, acting through an associate, paid $103.4 million for Vasona Technology Park, according to public documents filed July 16 at the Santa Clara County Recorder’s office.

The seller was Santa Monica-based Vista Investment Group, which purchased the office complex in 2018 for $113.3 million, county records show.

This appears to be a rare case of declining property values ​​for a campus in Silicon Valley.

Despite the economic uncertainties that the coronavirus has created, Silicon Valley remains a hotspot for commercial real estate investors.

Vasona Technology Park has some high-profile tenants that appear to be an attraction for investors.


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